Institutional Loans

Institutional Student Loans

Denison University has need-based institutional loans available up to a maximum of $5,000 annually, that can be requested to help cover gaps in financing.

Denison Scholar Loan

  • You can reach out to the Office of Financial Aid to request a Denison Scholar Loan and a counselor will work with you to determine eligibility.
  • Denison Scholar Loan is a low interest student loan that does not accrue interest while you are in school.
  • Before the Denison Scholar Loan can be disbursed to your account, you must actively accept your loan.
  • In addition to actively accepting your Denison Scholar Loan, you must complete two loan requirements:
    • Promissory Note: This is your agreement to repay your loan.
    • Loan Certification: This is your certification of the Cost of Attendance, your total financial aid (not including the amount of the Denison Scholar Loan for which this is being completed), and the remaining amount of unmet need (Cost of Attendance – Financial Aid).
    • The Student Accounts Office will contact you via email with a link and instructions for completing the two loan requirements. These requirements must be completed each time you accept a Denison Scholar Loan and if there is an increase in the amount of your already accepted Denison Scholar Loan.
  • Repayment begins 9 months after graduation or after you are no longer enrolled at least halftime (6 credit hours) at Denison University, at which time a 6% fixed interest rate will begin to accrue during the life of the standard, 10 year repayment period.

Schell Loan

  • The Office of Financial Aid will determine which students are eligible for the Schell Loan. Once this determination is made eligible students are notified via email.
  • Schell Loan is a no interest student loan that does not accrue interest during the life of the loan.
  • Before the Schell Loan can be disbursed to your account, you must actively accept your loan.
  • In addition to actively accepting your Schell Loan, you must complete two loan requirements:
    • Promissory Note: This is your agreement to repay your loan.
    • Loan Certification: This is your certification of the Cost of Attendance, your total financial aid (not including the amount of the Schell Loan for which this is being completed), and the remaining amount of unmet need (Cost of Attendance – Financial Aid).
    • The Student Accounts Office will contact you via email with a link and instructions for completing the two loan requirements. These requirements must be completed each time you accept a Schell Loan and if there is an increase in the amount of your already accepted Schell Loan.
  • Repayment begins 9 months after graduation or after you are no longer enrolled at least halftime at Denison University.

To accept, reduce, or decline a Denison Scholar Loan or Schell Loan:

  1. Login to MyDenison using your Big Red ID credentials
  2. Click on MyApps and My Financial Aid
  3. Agree to the Terms & Conditions presented the first time you login
  4. Select/confirm the appropriate aid year is displayed, top right of page
  5. Navigate to Accept/Decline Awards under the Menu, top left of page

*Students are required to take action on any awards in Pending status before any financial aid will disburse. You must either accept or decline offered student loans. You can accept the full amount of the offered loans or you can accept a reduced amount of the loan by typing in the amount you wish to accept in the box next to the offered amount.

*If you wish to reinstate a loan you have already declined or to modify a loan you have already accepted, please contact the Office of Financial Aid. All requests for loan adjustments must be made in writing via email from your student email address.

Processing, Disbursement, and Loan Adjustments

  • Once accepted, please allow 1-2 weeks to receive an email from Student Accounts with information on completing the two institutional loan requirements (loan certification and promissory note), along with a link to the website where these requirements can be completed.
  • The two loan requirements must be completed again if the loan amount is increased after the original loan certification and promissory note are completed.
  • Funds will disburse once they have been accepted and the two loan requirements are completed.
  • Please contact the Office of Financial Aid via email to request a reduction or cancellation of your parent plus loan.

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