Office of Financial Aid
(440) 826-2108
(877) 826-1600 (toll-free)
(440) 826-8048 (fax)

BW's Federal ID Code: 003014


Federal Direct Subsidized and Unsubsidized Loan

  • This low interest loan program is federally-sponsored.
  • The current interest rate is 4.6 percent (fixed) for Subsidized and 4.6 percent (fixed) for Unsubsidized.
  • Interest and principal repayment begins six months after leaving school or dropping below half-time status for longer than six months.
  • Information from the U.S. Department of Education.

Federal Perkins Loan

  • This low interest loan program is federally-sponsored.
  • The interest rate is five percent.
  • Interest and principal repayment begins nine months after leaving school.
  • Information from the U.S. Department of Education.

Federal PLUS Loan

Graduate/Professional PLUS Loan

United Methodist Loan

  • This loan is available to undergraduate and graduate students registered at least half 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 applying.
  • Applications are available through the Office of Financial Aid or the United Methodist Church Office of Loans and Scholarships, (615) 340-7345.
  • Information from the United Methodist Church.

Private Education 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 and fees are variable.

Consolidation Loans


The best resource for information on repayment plans, loan forgiveness programs and other debt management options is the Federal Student Aid website.

Income-based Repayment Calculator – The federal government enables student loan borrowers to cap their monthly bill at 15 percent of their discretionary income.

Solutions for Borrowers Who Are Having Trouble Repaying Education Loans

National Student Loan Data System (NSLDS) – This is the U.S. Department of Education's student aid database. To access this system, you will need your username and FSA ID.

Online Exit Counseling

Information About Public Service Loan Forgiveness

The Office of the Ombudsman – The U.S. Department of Education's Ombudsman helps resolve disputes and solve other problems with federal student loans. If you have done all you can to resolve an issue and haven't been able to reach a solution, the Ombudsman is there to assist you.

Baldwin Wallace University Office of Financial Aid Code of Conduct Policy

The Higher Education Opportunity Act sets conditions for educational institutions to participate in Title IV programs and requires the development of and compliance with a code of conduct prohibiting conflicts of interest for its financial aid personnel [HEOA - 487(a)(25)]. Baldwin Wallace University's officers, employees and agents are required to comply with this code of conduct.


  1. I am obligated to repay my loan(s), including all accrued interest and deducted fees, even if I do not complete the program, cannot find employment or am dissatisfied with the program of study.
  2. I have a maximum of ten years to repay my loan(s) (unless I choose to consolidate my loans).
  3. I may repay all or part of my loan(s) without penalty.
  4. The minimum monthly payment is $50. The payment may be larger depending on the amount borrowed. I will begin to repay my loan(s) after a six-month grace period.
  5. The interest rate of my loan(s) is specified in the Notice of Loan Disclosure and Guarantee Statement that will be sent after the loan application is processed. Most current loans have a variable rate with an 8.25 percent cap.
  6. I must notify my lender or holder of my loan(s) within 10 days if I:
    • change my name
    • change my address/phone number
    • change my graduation date
    • transfer to another college/university
    • enroll for less than or drop below half time
    • withdraw from school
  7. I will be notified in writing if my loan(s) is transferred to a new holder. I must direct all correspondence to the new holder.
  8. If I qualify for a deferment, I will contact my lender or holder of the loan(s) to apply.
  9. If I do not qualify for a deferment but am unable to make monthly payments, I will contact my lender or holder of the loan(s) and request forbearance.
  10. If I do not repay my loan(s), I will be considered in DEFAULT and the following may result:
    • It will be reported to a National Credit Bureau and have a negative effect on my credit rating.
    • The entire unpaid balance plus interest will become due immediately.
    • I will be ineligible to receive any additional federal aid.
    • My wages and federal and state income tax returns will be garnished.