Financing Options
B-W PLUS Loan
Baldwin-Wallace College is one of a handful of schools in the country -and the only school in Ohio - that offers an interest-free parent loan. Based on the Federal PLUS Program, the B-W PLUS Loan gives families the opportunity to make affordable monthly payments to assist with the cost of education. We pay the interest that accrues on the loan on a loan maximum of $12,000 for each year the undergraduate student is enrolled and repayment does not begin until the second semester of the student's freshman year.
Federal Subsidized and Unsubsidized Stafford Loans
- This low interest loan program is federally-sponsored.
- The current interest rate is 6.8% (fixed).
- Interest and principal payment begins six months after leaving college or graduate school.
How do I apply for a Stafford Loan?
Federal Perkins Loan
- This low interest loan program is federally-sponsored.
- The interest rate is five percent.
- Interest and principal payment begins nine months after leaving college or graduate school.
United Methodist Loan
- This loan is available to undergraduate and graduate students registered at least ˝ time and maintaining satisfactory academic progress.
- Student must be an active, full member of a United Methodist Church for at least one year prior to applications.
- Applications may be obtained through the Office of Financial Aid or the United Methodist Church Office of Loans and Scholarships (615-340-7345).
- For more information, please visit the United Methodist General Board Web Site.
Alternative Loans
- These loans are private (consumer) loans offered by lending institutions to offset the cost of education.
- FAFSA filing is not required.
- Applications are generally available online and must be filed each year.
- In most cases, the interest rates are variable, the fees vary and the repayment begins 6 months after graduation or leaving school.
NOTE: Alternative loans are more expensive than federal loans and should only be used when all other options have been exhausted.
