Loans are a major source of financial aid for many students. All loans, including student loans, represent debts that must be repaid; however, most student loans do not go in to repayment until after you graduate or cease half-time enrollment. In addition to delayed repayment, most student loans have relatively low interest rates, several repayment options from which to choose, circumstances under which you can postpone repayment, and other favorable terms and conditions. Student loans can be thought of as an investment in your future as long as you are prepared to meet your repayment responsibilities. Failure to repay your student loans will have serious adverse consequences.

Please refer to links to the left for more detailed information about the different types of loans that may be available to you.

It is true that most students would prefer not to borrow; but, because student loans represent the largest source of financial aid, many students will choose to borrow. When borrowing, it is important to carefully plan your budget so that you only borrow what you need, keep track of how much you are borrowing each year, and have some idea as to how you will pay your loans back when the time comes. Direct Loan Servicing Online provides information to students and parents who have Direct Loans already or who are thinking about borrowing. The Office of Career Services can provide you with information concerning entry level salaries in most fields.

In addition to the federal loan programs and alternative loans offered by private lenders, some states and schools have their own loan programs. Ohio University has both an institutional Short Term Loan and Long Term Loan Program. The Short Term Loan Program is designed to provide temporary cash for educational expenses for a brief period of time until other resources become available. You must meet certain eligibility requirements and have a guaranteed source of repayment in order to qualify for a Short Term Loan. The Long Term Loan Program is utilized at the recommendation of a financial aid counselor after all other options have been exhausted. Certain eligibility criteria must be met and funds must be available in order to receive a Long Term Loan.