Bridge Loan Application Form (fillable PDF)
Washburn University makes bridge loans available for students with approved Subsidized, Unsubsidized, and Graduate Plus Loans that the Financial Aid Office will release to the student account in two parts. The purpose of the bridge loan is to “bridge the gap” between the first release of financial aid and the second disbursement, which takes place at approximately mid-semester.
First time freshmen and first time borrowers may also experience a delay of 30 days before receiving their first financial aid disbursement. These students may qualify for a bridge loan prior to the first disbursement, but not before the initial financial aid disbursement date for the semester.
Bridge loans can be issued for up to the amount of the refund expected to be received after the second financial aid disbursement. The amount of the bridge loan is added to the student’s balance and is paid in full when the second financial aid disbursement occurs. NOTE: A reduction in term credit hours may result in a reduction of expected financial aid. If this happens, a bridge loan may not be fully repaid from financial aid and cause holds to be applied that prevent release of transcripts or future enrollment.
Bridge loan applications are available online and can be submitted in person to the Business Office (Morgan 103) or can be scanned and sent to email@example.com, subject to the guidelines below:
Bridge loan applications must be approved by the Bursar for all undergraduate, graduate, and law students. Bridge loan checks are printed twice a week and cannot be direct deposited to the student’s bank account. Students who receive a bridge loan must pick up their check at the Cashier window in Morgan 103-O.
If the amount of the second financial aid disbursement is not sufficient to pay the student's outstanding balance (including the bridge loan), the remaining balance is immediately payable to Washburn. If the remaining balance is not paid within 5 business days, a late payment fee of $25 will be charged.