The Ashbrook Center has partnered with various local school districts and local education agencies to receive grants from the U.S. Department of Education's Teaching American History Grant Program. Among other activities, these grants allow teachers from these districts to participate in Master's courses at no charge. The grants also cover the cost of books and offer a $500 stipend for each course taken. Teachers participating in the grant program are audit students in the course, and they may choose to take the course for credit at a discounted tuition rate of $440 for the two credit hour credits. Each year, there are openings not used by these school districts that are made available to other teachers across the country. You can apply on-line for these free summer courses. While teachers from the school districts we partner with may attend more than one course, those from other schools can attend only one of the free summer courses each year.
Two types of loans are available for students taking courses in the Master's program: Federal Stafford Loans and Private Education Loans.
Federal Stafford LoansAccording to federal regulations, Federal Stafford Loans are restricted to students enrolled at least half-time (3 credit hours) in a degree-granting program. To receive a federal loan this summer, you must be accepted into the Master of American History and Government (MAHG) degree program and enroll for at least two courses (since each session is 2 credit hours, and you need to be enrolled in at least 3 credit hours to be considered a half-time student). Students applying for a Federal Stafford Loan must complete the following:
- Summer Loan Application for the MAHG Program. (You do not need to complete the AU Graduate Loan Application or the Summer Loan Application on the AU Financial Aid web site. The only Ashland University form you need to complete is this Summer Loan Application for the MAHG Program.)
- 2007-08 Free Application for Federal Student Aid (if not already filed). Use the AU Title IV code – 003012 – to have your Student Aid Report sent electronically to Ashland University. Students filing the FAFSA after June 30, 2008, must submit the 2008-09 version. For detailed instructions, visit the AU Financial Aid web site.
- Entrance Loan Counseling, if you do not currently have outstanding Stafford Loans.
- Master Promissory Note. In order to provide additional benefits to our students, Ashland University has changed from the Federal Direct Stafford Loan Program to the Federal Family Education Loan Program. ALL 2008 MAHG Stafford Loan borrowers must complete a new FFELP Master Promissory Note for the 2008 Summer Session.
Ashland University in cooperation with Student Loan Xpress is the lender for Federal Stafford Loans for AU Graduate Degree-Seeking Students. The loans are guaranteed and processed through the Great Lakes Higher Education Loan Corporation. AU Federal Stafford Loans provide the following benefits:
- Zero Fees – Stafford borrowers who show need on the FAFSA do not pay the 2% federal origination fee on their loans.
- Principal Reduction – 5.00% reduction of the original principal balance after 33 consecutive, on-time payments.
- Rate Reduction – Stafford borrowers receive a .25% interest rate reduction for auto debit of their loan payments.
Federal Stafford Loans may be either subsidized or unsubsidized depending upon the student's need as determined by the FAFSA.
- Subsidized Federal Direct Stafford Loan. A need-based loan that provides up to $8,500 per academic year for students accepted into graduate degree-granting programs. The interest rate is fixed at 6.8% on loans guaranteed after June 30, 2006. Loans obtained prior to that date continue to have a variable interest rate that is capped at 8.25% and is 6.54% through June 30, 2007. The federal government pays the interest for the student while he/she is enrolled at least half-time. Repayment begins six months after the student ceases to be enrolled at least half-time. The borrower has several options to repay the loan. The standard plan provides up to 10 years for repayment. Further information regarding repayment options, loan deferment and loan forgiveness programs is available at www.studentaid.ed.gov.
- Unsubsidized Federal Direct Stafford Loan. A non-need-based loan that is similar to the terms of the Subsidized Federal Direct Stafford Loan except that the borrower is responsible for the interest while enrolled. Interest can be paid quarterly or capitalized and added to the loan principal until after the borrower ceases to be enrolled at least halftime. Eligibility for the Subsidized Stafford Loan must be determined through the FAFSA before a student can be certified as eligible for an Unsubsidized Stafford Loan.
Additional information about Federal Stafford Loans is available from the Ashland University Financial Aid office by calling 1-800-882-1548, ext. 5003.
Private Education LoansStudents who plan to enroll as non-degree students or students who do not plan to enroll in more than one course this summer may apply for a private education loan. Students applying for a private education loan must complete Ashland University Summer Loan Application for the MAHG Program in order for the AU Financial Aid Office to certify the private loan. After completing the Summer Loan Application, students should then apply for the private education loan directly to the lender. There are a number of private education loan programs available including:
- Access Group Graduate Access Loan (www.accessgroup.org)
- Chase Education Finance Campus One Loans (www.ChaseStudentLoans.com)
- KeyBank Graduate Alternative Loan (www.key.com/alternative)
- Key CareerLoan (www.key.com/career)
- Student Loan Xpress GradXpress Loan (www.gradxpressloan.com)
Additional information about private education loans is available from the Ashland University Financial Aid office by calling 1-800-882-1548, ext. 5003.