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Emergency loans are available to students who experience an emergency and have a temporary need for funds. An emergency is defined as an unexpected need that could not have been reasonably foreseen. Poor planning is not an emergency. The Business Office is always willing to counsel students experiencing financial difficulty, but will not grant an emergency loan in the absence of a genuine emergency. Although emergency loans may have been granted in the past as an "advance" on Federal financial aid, changes in Federal law no longer permit this to be done. Students taking an emergency loan must be able to repay the loan from personal funds.

An Emergency Loan must be applied for in person at the Business Office, subject to the guidelines below:

1. The student must state purpose of the loan. Should a student have misrepresented the purpose of the loan, the student will not be eligible to receive loans in the future. The Business Office reserves the right to require documentation substantiating the nature of the emergency.
2. Emergency loans are due and payable in full within thirty days of the date granted. Emergency loans not fully repaid by the due date will result in a $25 late fee and a hold being placed on the student account; and the student will lose eligibility for future emergency loans.
3. Only one emergency loan will be extended to a student per academic term.
4. If a check used to repay an emergency loan is returned for insufficient funds, the student will be liable for a NSF fee of $30. In addition, a late fee of $25 and a hold will be placed on the student account. Further, the student will lose eligibility for future emergency loans.
5. If a student defaults on the repayment of an emergency loan, s/he will not be eligible to receive any future emergency loans.
6. Emergency loans are available ONLY when classes are in session. They are not available between terms.