Student Loans for Ohio Students
Compare All Lender Options
Student Lending Works has been Ohio’s state-sanctioned student loan resource for a number of years now. SLW provides some of the most affordable education loans around, the purpose: to get more Ohio kids into college. State residents will find that Student Lending Works has specialized in consolidation loans, but have expanded their industry expertise to include the Federal Family Education Loan program as well with continued support from the state government.
About Student Lending Works
Student Lending Works offers to finance the federal student loans for any eligible students, but since the not-for-profit company is backed by Ohio, it is positioned to extend a special menu of FFEL loans specifically to state borrowers. Not-for-profit providers who receive the support of the state may receive tax-exempt bonds that have been put aside by the state government expressly for use in higher education. Because these monies are not subject to the typically heavily federal taxation, student loan companies like Student Lending Works can afford to offer the loans with interest reductions and other discounts.
FFEL through Student Loan Works
Student Loan Works finances affordable and low-cost federal loans, including the ever popular Stafford Loan and PLUS Loans.
- Stafford Loans, subsidized and unsubsidized are available to undergraduate and graduate borrowers that complete the FAFSA. The amount for which you may be approved varies with degree level and your financial situation. Repayment does not kick-in for 6-months past graduation or when you drop below half-time enrollment. Unsubsidized Stafford borrowers may defer interest payments while in school.
- The Parent PLUS Loan for Ohio borrowers is a credit-based student loan. Borrowers with dependent college students may be approved for the full cost of tuition once other aid has been calculated. Repayment commences once the entire loan has been disbursed to the college.
- Same thing for the Grad PLUS Loan for Ohio graduate students.
Consolidation Loans
Student Loan Works started out in the business of student consolidation loans and subsequently expanded their offerings to cover the menu of federal student loans. However, due to new federal fees required for consolidation loans, fewer and fewer lenders can financially afford to extend them. SLW has scaled back its consolidation loan products and instead offers detailed advising for students in debt trouble.
In lieu of consolidation loans, many lenders have added an Extended repayment option to student loan deals. With the extended program borrowers make lower monthly payments over a longer period of time, often up to 25 years.
