Loans for Disadvantaged Students

Financial Services > Overview of Loans > Loans for Disadvantaged Students

Loans For Disadvantaged Students (LDS) provides long-term, low-interest rate loans (5%) to full-time, financially needy students from disadvantaged backgrounds.

The College of Medicine is responsible for selecting loan recipients, making reasonable determinations of need and providing loans which do not exceed the cost of attendance.

The grace period for this loan is one year, during which repayment of principal is not required and interest does not accrue. The grace period immediately follows completion or termination of full-time student status and cannot be postponed to follow any deferments for which the borrower may be eligible.

Repayment terms are generally 10-25 years which is at the discretion of Ohio State. The borrower may prepay all or any part of the principal and accrued interest at any time without penalty.

Deferment and forbearance options are also available. For more information please contact The Ohio State University Office of Student Loan Services 1-800-635-8944

A deferment period on an LDS means that interest does not accrue and the borrower does not have to make payments on the loan. LDS deferments are not automatic. Borrowers must request deferments at least 30 days before the beginning of:

• an activity that makes the borrower eligible for deferment; or
• the repayment period (i.e., the due date of the first payment) if the borrower is beginning the activity during the grace period.

Borrowers then must file deferment forms annually for each additional year of deferment.

For more detailed information about Loans for Disadvantaged Students please visit Bureau of Health Professions Loans .