The maximum amount of federal or private loan funding a student can take out during a school year cannot exceed the cost of attendance. However, our cost of attendance can not include expenses associated with residency interview travel during a student's 4th year or the expenses associated with relocating to a residency program after graduation.
Students who need additional loan funding to cover these expenses will need to consider a "residency and relocation loan" offered by a private bank.
These loans are similar to private education loans in that most lenders will allow the student to postpone payment until after their residency program. However, unlike the private educational loans, the funding from this loan will be sent directly to the student instead of the school.
A few of the lenders listed at finaid.org
offer these loans. When using this site please review those loans that mention "Residency" or "Relocation" in their loan titles or in the description of the loan
. Please note that it is very likely that this website does not contain all residency and relocation loan opportunities. To learn about other loan comparison sites that might offer additional lenders, you can visit finaid's "student loan comparison sites
" webpage. Please note that the OSU College of Medicine is not endorsing any particular lender(s) on finaid.org.
If a student applies for a private bank loan that is not a residency or relocation loan and the student is already at their cost of attendance, the loan will be denied. Therefore, please make sure that you are applying for a residency travel or relocation private bank loan.