Emergency Loan Program
The Ohio State University Emergency Loan Fund for new faculty is available upon request to assist newly appointed regular faculty during their first quarter on campus in meeting expenses associated with their relocation to Columbus. These expenses include, but are not limited to, moving expenses and expenses incurred in establishing their Columbus residence. Although these resources are limited, the University attempts to make emergency loans readily available to ease the financial burden of relocating until first paychecks are received and local credit can be established. Each new faculty member is eligible to borrow up to $1,500.
The program is administered through the Student Loan Services. This revolving fund is available on a first come, first serve basis. New loans are awarded as previous recipients repay their loan. The loan is interest free.
Because this is a revolving fund, individuals are required to repay the loan in five monthly payments of $300.00. The first repayment is due February 25 and the last June 25. Individuals will receive a billing statement each month with multiple options for repayment including credit card, direct withdrawal from their bank account or mail. Individuals may pay off the loan earlier if they like so that others may borrow from the fund.
The applicant must complete an application and obtain the appropriate signatures in their college. Once these signatures are obtained, the application should be forwarded to Bobbie Houser in OAA, 203 Bricker Hall, 190 North Oval Mall. She will secure the signatures in OAA and forward the application to Student Loan Services.
Normal processing of the application should result in the check being available in 3 - 5 days upon receipt of the completed application in OAA. When the check is ready the new faculty member will be notified and given instructions on where to pick up the check. At that time, the individual will be required to provide photo identification and will sign for the check.
Emergency Loan Fund Form