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Emergency loans are short term loans of up to $350.00. Only one emergency loan of any amount is allowed each term, and prior emergency loans have to be repaid before a new one will be issued. To be eligible to receive an emergency loan students must be enrolled at least half-time, be degree-seeking, and not have any active financial holds. Emergency loans are intended to assist students, therefore if your primary affiliation with OSU is as an employee, you are not eligible for emergency loans.
Emergency loans are posted to the student’s OSU account and are assessed interest charges accordingly. The interest rate for all outstanding student account balances is 12% APR (1% per month).
Please note that emergency loans are not automatically paid by federal financial aid funds, although a student can choose that option. Non-federal scholarships and grants pay off any kind of account charges including emergency loans. This means that a student may still owe on an emergency loan even if they receive a federal financial aid refund check. It’s good practice for students to regularly check their student account activity and balance in Student Online Services.
Applications for emergency loans are available outside of the Cashier's Office in the Kerr Administration building. Students will need two forms of photo ID to receive emergency loan funds. Distance and E-Campus Students, please call the Cashier’s Office at 541-737-2597.