Part of a student’s financial aid package from Heidelberg University includes the Federal Direct Loan Program. These are federal student loans that provide a reliable way to help pay for college with competitive interest rates and flexible repayment options. Repayment of these loans begins after the student graduates, withdraws, or falls below half-time enrollment status.
Here's a breakdown of the two main types of Direct Loans:
- Direct Subsidized Loans: For undergraduate students with financial need based on their FAFSA. Interest is covered by the federal government while the student is enrolled at least half-time, as well as during their grace period, and approved deferments.
- The 2025-2026 interest rate for Direct Loans for Undergraduate students is a fixed 6.39%.
- Direct Unsubsidized Loans: Available to all undergraduate and graduate students, regardless of financial need. Interest starts accruing immediately.
- The 2025-2026 interest rate for Direct Loans for Undergraduate students is a fixed 6.39%.
- The 2025-2026 interest rate for Direct Loans for Graduate and Professional students is a fixed 7.94%.
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.
*When searching for Heidelberg, choose the BRN program in the dropdown menu. Important: You must complete the entire BSN program to avoid issues with your loans, which will not be canceled if you only obtain the RN certificate.