What Loans Am I Eligible For? Ivy Bridge’s Financial Aid Office Is Here To Help!

Many of our incoming students ask about student loan opportunities.  On this page, you’ll find a variety of options for which you might be eligible.  The Financial Aid Office can help you every step of the way to find real resources to make your Ivy Bridge education possible. 

First, what is a student loan?

Loans – This is financial aid that is borrowed and must be repaid under the terms and conditions of the loan program. Loans are available to assist in educational expenses. Some loans may be deferred until after you graduate from school or fall below a half-time enrollment. A student loan is a form of financial aid that must be repaid (self-help aid), with interest. (Scholarships and grants do not have to be repaid.)

Your primary loan options include:

Federal Stafford Loan

Federal Parent Loan for Undergraduate Students (PLUS)

Private Alternative Loans 

Federal Stafford Loans - The student is the borrower of this loan.  It is awarded by the financial aid office based on the results of the FAFSA.  The loan can be subsidized or unsubsidized.  Subsidized loans are awarded based on financial need.  Subsidized loans have their interest paid by the federal government while the student is in school.  The interest rate for subsidized Stafford loans is 6%.Unsubsidized Stafford loans accrue interest to the student from the time the loan is disbursed to the students account.  The interest rate on unsubsidized loans is 6.8%.  In both cases, payments can be deferred for as long as the student is enrolled at least half-time (6 credits as an undergraduate).  These loans are available both for undergraduate and graduate education. Ivy Bridge College of Tiffin University has selected three lenders as possible Federal Stafford loan lenders.  To view our recommended lender list please click here.  Lenders were selected based on their exceptional quality service and their visibility in the student loan industry.

Important Note about Stafford Student Loans:

All first-time students at Ivy Bridge College of Tiffin University borrowing from the Stafford Student Loan Program must complete an online ENTRANCE counseling session. 

Current students who will be graduating, withdrawing, or dropping below half-time enrollment status must complete an online EXIT counseling session. 

Federal Parent Loan for Undergraduate Students (PLUS)  - The parent of the dependent undergraduate student is the borrower of this loan.  The loan can be made available after the student has completed the FAFSAand has been awarded other forms of financial aid.  The parent may borrow up to the cost of education, minus other forms of aid, for each academic year.  Interest accrues from the time the loan is disbursed, but parents may elect to have their payments deferred while you are in school. The interest rate for PLUS loans is 8.5%.  To review our recommended lender list for the PLUS loan, please click here and click on the Parent PLUS tab.

Private Alternative Loans – Realizing that Federal loans may not be enough to cover a student’s educational costs, there are lenders who offer private alternative loan options to help bridge the education cost gap.  To review our list of private alternative loan lenders please click here and click on the private loan tab.

What is the Ivy Bridge College of Tiffin University Payment Plan?

We encourage you to combine the loans with the Tiffin University Payment Plan.  This plan allows you to spread payments over 10 months with no interest.  There is a $60 application fee, but no additional fees or interest charged.  For information on the payment plan, please contact the Bursar at (419) 448-3409.