Little-Known Loans

It’s no secret that many college students are hurting for cash, but before you go plodding down the street to hawk your last Prince and the New Power Generation album, check out these little-known loan sources available to most Portland State students.


The Short-Term Loan

Student expecting financial aid can take out a short-term loan of up to $400 through Accounts Receivable. The loan must be paid back within 60 days or is paid automatically when financial aid disburses. To get this loan, fill out a short form at the Accounts Receivable window in Neuberger Hall.


The Computer Loan

While this is not technically a loan, it does allow students to raise their estimated cost of attendance – the figure that caps how much money a student can borrow annually – to allow for $1000 toward a computer. Students can then find an alternative loan or use any remaining Stafford Loans to fund their computer. The student must provide proof of the cost of the computer by providing a receipt or printing out the specifications and prices from the web.


Ron Ronacher Student Parent Loan Program

This is a $50 emergency loan available to any students with children who are enrolled in at least six credits at PSU. The repayment period is four months and will be automatically paid when financial aid disburses at the beginning of a term. However, the program, intended to help student parents pay past due bills or purchase necessities such as formula and diapers, is funded completely through donations from faculty, staff and students and is currently in deficit, according to Lola Lawson, the director of Student Parents Services. Lawson said that she hopes the program will soon get back on track, and students interested in the loan should contact her in Student Parent Services on the first floor of the Smith Center.


Case-by-Case Financial Aid

According to Kenneth McGhee, director of financial aid, additional help is available for students facing unexpected expenses such as childcare and income loss due to layoff or divorce. Cases are reviewed individually, and McGhee recommends speaking to the financial aid office or to a financial aid counselor when issues surrounding income changes arise.

“We try to do what we can to assist people in those situations,” McGhee said.