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Most private student loans are sent directly to the student. There are many out there. The best thing to do is compare the different private lenders out there, which can be done at finaid.org. Most of the rates are very similar but do a little research and pick one that you think is best. I would suggest Think Financial. The application process is very quick and easy, and the check is sent directly to you so you can use the money for whatever you want. The limits are much higher with private student loans, up to $40,000 per year. You can find out more information about a Think loan at thinkfinancial.com. Good Luck.
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None that I know of - mine always got sent directly to the school and any overage got paid to me by the school. I don't think it's done any other way since the loan company wants to make sure the money is spent on your education. Lots of students wouldn't use it properly and this procedure is a safe guard for the student and the loan company.
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