VOLUME I: Policies Related to Student Financial
SUBJECT: Short Term Policy Loans
SOURCE: Bursar’s Office and Accounts Receivable
RATIONALE: To establish guidelines for short term emergency loans
POLICY: Short Term Emergency Loans
The University offers short term loans to students through various programs administered by the Dean of Students, Graduate Student Senate, Office of Financial Aid and the Center for Academic Programs. In general, short-term loans are given to students in cases where either financial aid has been awarded but not yet received or for cases of demonstrable financial hardship. The process includes mandatory counseling by the departments and in most cases loans will not exceed $500.00 with a maximum term of 90 days.
Short term loans are coordinated between the issuing departments, Office of the Bursar and the Accounts Receivable office. A minimum of three (3) business days is required to issue the loan check. Failure to repay a loan results in a Bursar Hold being placed on a student’s account.