Loan Programs

Private Loans

Before you apply for a private loan, we recommend filing a FAFSA to exhaust your eligibility for federal aid (grants, Subsidized and Unsubsidized Stafford loans, Grad PLUS and Parent PLUS). The Student Service Center can provide information such as eligibility requirements on these federal programs to students and their families.

The Ohio State University does not endorse any private educational loan lender or lending program. Borrowers may choose ANY eligible, participating lender regardless of whether it appears on our lender list. To make the process of comparing lender information easier, we recommend using FASTChoice: a loan comparison tool that assists borrowers in deciding on a private loan that is best suited for their needs. Please review lender information carefully and check with the lender if you have questions or concerns. You may see our lender list at FASTChoice.

The Ohio State University selected these lenders to be on the FASTChoice lender list for the following reasons:

• History of good customer service for borrowers and staff of the university
• Longevity and stability in private loan lending
• Easy online application process
• Funds are sent electronically via EFT (Electronic Funds Transfer)
• Competitive rates and terms

We reserve the right to add or remove any lending agency from the list at any time. Our lender list will be reviewed periodically and feedback from students will be taken into consideration when reviewing this list.

Processing Information

• We highly recommend applying for a private loan over all semester of enrollment rather than each individual semester.
• Please allow 6-7 weeks for processing, certification, and receipt of funds. Please plan accordingly!!
• If you are attending semester non-consecutively, you will need to apply for a loan EACH SEMESTER.
• Once you accept your private loan on your Student Center page, only reductions and cancellations can be made. Be sure the loan is for the correct amount and split over the semester you wish to receive funds BEFORE you accept it. If you want to make a change, please email SfaAlternativeLoans@esue.ohio-state.edu.

How to Cancel Your Private Loan

• Students who want to cancel a disbursement of a private loan or cancel the loan entirely MUST submit a written request to the Student Service Center
• Funds will be returned to the lender per this written request in about three to 4 weeks
• It is also the responsibility of the borrower to notify BOTH the lender and the school of the intent to cancel funds. .

Application Process

• Compare different loan types, rates, and terms from different lenders, then apply with the lender of your choice.
• Lenders now send three separate disclosures to borrowers during the process. The borrower is responsible for returning any and all required documents to the LENDER (not Ohio State) including a Self-Certification form. Ohio State recommends using the self-certification form given by your lender. Lenders cannot release funds until they have received this form from the borrower. Do not turn in the form to the Student Service Center. Information for this form can be found in the Student Center via Buckeye Link . Under "Finances", click on "View Financial Aid" and select the appropriate Award Year. There will be a link for "Financial Aid Award Guide" and from here you can view your estimated cost of attendance by clicking on the "Budgets" tab.

Miscellaneous Reminders

• Disbursement dates are determined by each lender in conjunction with the university's disbursement plan. You can always check with your lender to determine when your private loan will be disbursed if you have any questions.
• If you are selected for federal verification, you must complete that process prior to your loan certification is process. Otherwise, you will need to provide a written statement to the Student Service Center that you will not be completing the verification process and would like to move forward with private loan option.