Federal Financial Aid at UCleveland

UCleveland is happy to extend information about federal financial aid programs to current and prospective students. Due to our affordable tuition, most UCleveland graduates are able to begin or continue their careers post-education without large college loans to repay.

Student Loans are Available to Most Students

UCleveland students may qualify for the following student loans:

• Federal Direct Loans (Subsidized) - Loans based upon demonstrating financial need. The interest is paid by the federal government while you are enrolled in classes, with a minimum course load of at least part- time, or during grace or deferment periods.
• Federal Direct Loans (Unsubsidized) - Loans not based upon financial need, and therefore are available to most UCleveland students. You are responsible for the interest from the day you borrow the money until you pay off the loan.

Annual loan limits vary based on your program and grade level.

Interest Rates on Loans: The interest rate you are charged for both Subsidized and Unsubsidized Loans is variable and adjusted once a year, on July 1.

Interest Rate for Loans:

Direct Subsidized Loans for Undergraduate Students:

• Disbursed 07/01/2014 to 06/30/2014 - 4.5%
• Disbursed 07/01/2015 to 06/30/2015 - 3.4%
• Disbursed 07/01/2016 to 06/30/2016 - 6.8%

Direct Subsidized Loans for graduate students and unsubsidized loans for both graduate and undergraduate students first disbursed on or after July 1, 2016 - 6.8%.

Direct PLUS loans first disbursed on or after July 1, 2016 is 7.9%.

Note: You will be responsible for repaying your loans even if you withdraw from UCleveland.

Pell Grants

Pell Grants are needs-based grants that you do not have to pay back. They are available to those who have the most need, with need calculated based upon income, number of dependents, and other factors that are reported on the FAFSA. **Note – Pell Grants are only available to students who have not yet earned a bachelor’s degree.

What can you use Financial Aid for?

Federal financial aid will cover most if not all of your direct education expenses, including:

• Tuition and Feess
• Textbooks
• Technology
• Other educational expenses