Office of Student Financial Aid
Fifth Floor Lincoln Tower
1800 Cannon Drive, Columbus, Ohio
43210-1230
(614)-292-0300

This information summarizes the financial aid available for students at The Ohio State University. Refer to the Application Bulletin for a more complete description of financial aid programs and resources. Columbus campus freshman and transfer applicants who wish to be considered for most university-administered scholarships, grants, federal loans, and the Federal WorkStudy Program need to complete and submit the Application for Undergraduate Admission and the Free Application for Federal Student Aid (FAFSA) of the College Scholarship Service by February 15 for freshman applicants and by June 25 for transfer applicants. The deadline for regional campus freshmen is April 1. Currently enrolled applicants need to complete and submit the FAFSA by March 1. Freshmen should secure the applications from their high schools; transfer students should request applications from the Admissions Office, Third Floor Lincoln Tower, 1800 Cannon Drive, Columbus, Ohio 43210-1200; 614-292-3980; and currently enrolled students should go to the website at www.fafsa.ed.gov

Students wanting more information on financial aid options for optometry students are encouraged to contact the college's Office of Student Affairs at 614-292-2647 or E-mail Admissions.

Several financial aid programs exist to help students meet the cost of attending the College of Optometry. These programs are primarily federally subsidized loans, most of which have attractive deferment and repayment terms. The college also offers some scholarship awards each year, most of which are need based, but some of which are awarded on a combination of financial need and academic merit, or on merit only.

Special Scholarships

The College of Optometry administers several special scholarship funds. These are awarded annually to students on the basis of academic excellence, minority status, state residency, or other criteria, and vary from $1,000 to several thousand dollars per year.

Minority scholarships

Dr. and Mrs. H.E. Welton, of Cleveland have established an endowment to provide loans and scholarships for black and Hispanic students in the College of Optometry. Dr. Welton, in 1938, was the first African American person to receive a degree in optometry from Ohio State.

Military scholarships

The U. S. Armed Forces provide several scholarships yearly for qualified optometry students. These awards typically provide full funding for educational and living expenses for one or more years in exchange for one or more years of service as an Armed Forces optometrist after graduation.

University-administered scholarships

These scholarships do not need to be repaid and are mostly need based. The maximum is usually $1,200 per year for Ohio residents and $5,400 per year for non-residents.

Outside Scholarships

Download the College of Optometry outside scholarship resource booklet. (PDF)

Loan Information

Health Professions Student Loan (HPSL)

A need-based, federal loan administered by Ohio State, the HPSL requires that a parental contribution be considered even for independent students. This loan is at five percent interest, deferred while the student is in school, and has a 12-month grace period after graduation. The maximum award in 2005-2006 was $12,000. 

Federal Stafford Loan (Subsidized)

The Federal Stafford Loan is a need-based, federally subsidized loan program at a variable interest rate capped at 8.25%. Interest is subsidized and repayment is deferred while the student is in school, and there is a six-month grace period after graduation. Generally, the maximum award is $8,500 each year.

Federal Stafford Loan (Unsubsidized)

This is a non-need-based federal loan program. The variable interest rate is adjusted each July 1. Interest is not subsidized, but repayment of principal may be deferred; interest may be paid while the student is in school, or may be deferred and capitalized. Beginning July 1, 1994, a student can receive funds from both a subsidized and an unsubsidized Stafford Loan. The total amount for both programs cannot exceed $30,000.

Alternative Loan Programs

Students who need additional funds after borrowing the maximum from the previous programs should be able to meet their remaining needs either with the HEAL Loan (a federal bank loan), or with a PEP, TERI or similar, privately sponsored loan. These loans typically have high borrowing maximums (up to $20,000 per year), long repayment periods (20 to 25 years), and variable interest rates. Deferment of the principal can usually be arranged, but interest accrues from the time of disbursement.