<p>I do not currently owe my academic institution any overdue funds. Is it ok to take out a financial loan? If so, where will the funds go? (Please Clarify)</p>
<p>
Private Student Loans? NO!
Direct Unsubsidized Loans? Maybe, only if you need money to buy books, etc.
Direct Subsidized Loans? Sure.</p>
<p>The loan money will go to school first, and then the school would refund any money to you if no balance due.</p>