Part of a student‘s financial aid package from Heidelberg includes the Federal Direct Loan Program. Payments begin after the student graduates or falls below half-time status. Direct loans are guaranteed, low interest loans for students. The lender is the Department of Education.
There are two types of Direct Loans: subsidized and unsubsidized. A Direct subsidized loan is need-based. No interest is charged while the student is enrolled at least half-time. A Direct unsubsidized loan is not based on financial need and interest is charged during the enrollment period. The interest rate is determined each July 1st. The rate for 2025-2026 is 6.39%. *This rate may change as of July 1, 2025.
Need based on FAFSA analysis. Must be at least half-time. Up to $5,500 for first-year students, with no more than $3,500 being subsidized, $6,500 for second-year students, with no more than $4,500 being subsidized, and $7,500 for third and fourth-year students, with no more than $5,500 being subsidized. The interest on a Direct Subsidized Loan will be paid by the federal government while the student is enrolled at least half-time. In the Direct Unsubsidized Loan program, financial need is not required. Interest is paid by the student while attending school or can be deferred.
The Direct PLUS Loan allows parents with no adverse credit to borrow up to the difference of our total costs minus the student's financial aid. The interest rate for 25-26 is 8.94%. Interest begins with loan disbursement and repayment begins 60 days after the loan is fully disbursed with a 10-25 year repayment period (deferred payment options are available on the application.)
Eligibility Requirements:
- Must be biological or adoptive parent
- Student must be a dependent enrolled at least half-time
- Must be US Citizens or eligible noncitizen
- Endorser (co-signer) may be added or may be reconsidered if adverse credit history is indicated
- PLUS loan counseling required for adverse credit history
The determination of Adverse Credit History has changed. A credit check will be performed during the application process. If you are determined to have an adverse credit history, you may still receive a Direct PLUS Loan by obtaining an endorser who does not have an adverse credit history or by documenting to the U.S. Department of Education's satisfaction extenuating circumstances relating to your adverse credit history. You will be required to complete PLUS Loan Counseling also.
Education Loans help bridge the gap between the actual cost of education and the limited amount the government allows you to borrow in its programs. Private loans are offered by private lenders and there are no federal forms to complete. Eligibility for private student loans often depends on your credit score.
Students are encouraged to apply for a private loan with a cosigner even if you could qualify for a loan on your own. Just applying with a cosigner usually results in a slightly lower rate, as such loans are not as risky for the lender. Moreover, the interest rates and fees are usually based on the higher of the two credit scores. So if your cosigner has a much better credit score than you, it could result in a much lower interest rate.
Please know that you have the right to borrow through the lender of your choice and you are not limited to those included through the Private Education Loan Selection Tools.
Heidelberg University participates in the Ohio Nurse Education Assistance Loan Program (NEALP), offering special loans for nursing students. The NEALP purpose is to assist the state in meeting nursing shortages by providing financial assistance to Ohio students enrolled for at least half-time study (or accepted for enrollment) in approved Ohio pre-licensure nurse education programs who intend to serve as nurses after graduation. This applies to the 1-2-1 students in the nursing program.
NEALP Loan
The Nurse Education Assistance Loan Program (NEALP) is funded by the State of Ohio. Students who qualify can receive loans up to $1,800 (2024-25) that can be cancelled if the student works full-time as a registered nurse in Ohio. You must complete the FAFSA before you can submit the NEALP application. THe NEALP application period runs from January 1st to July 15th.
Annual award for the 2024-2025 academic year was $1,002/year for LPN.
Annual award for the 2024-2025 academic year was $1,800/year for DRN, ARN, BRN/BSN, & GDN.
Awards based on EFC.
Recipients must serve as a full-time nurse in Ohio for five years to qualify for 100 percent loan cancellation.
Our school code is 003048
For more information on the NEALP Loan, visit the Ohio Department of Higher Education website.