Regarding Loans

Colleges and Universities A-Z Ohio State University
1

<p>All of my scholarships are sent directly to the university, so that covers the essentials-- tuition, room, and board.</p>

<p>However, I have a small gap for books, supplies, and what Ohio State considers “Miscellaneous/Personal” . I am a poor fella (what college student isn’t?), so I cannot do that out-of-pocket. If I take out loans, even private ones, does that money usually go to the university (in which case, how do I get that money?) or directly to me?</p>

<p>Likewise, if the amount of money needed for books and such differs, with no definite prediction, how does the loan-giver know how much to give to me? or are there just caps, them not caring how much I take-out under those caps?</p>

<p>Too, if it’s not asking too much for those Buckeyes who’ve already taken out loans, which companies/organizations/etc. offer the best rates?</p>

<p>Thanks in advance!</p>

2

<p>Have you looked into OSU’s bridge loan?</p>

3

<p>Probably best to meet with the financial aid office. When it comes to loans, there are many ins and outs. My son is no longer at OSU but is continuing his education elsewhere with Stafford Loans which are taken in a lump sum then split evenly over the terms he attends and disbursed to his school which then refunds him any money over their fees. However, if he wants to borrow uneven amounts for each term, there are work arounds that he has to do with the financial aid office. Really, I would talk to them first to see how things work with the loans you are offerred and see what they suggest to cover additional costs. Also I should mention that campus and off-campus jobs are plentiful for students.</p>