Emergency Loans
Emergency Loans
The Emergency Tuition and Fees Loan Program is a short-term loan in which students are attesting to financial need and are loaned money to pay 50% down payment toward their Tuition & Fees. Therefore, this loan must be repaid.
Processing Period
Students may apply for loans until funds are no longer available. Emergency loans are not available before or after the processing period.
- Starting July 26, 2007
- Ending September 15, 2007
Applications
Applications are available at the Financial Aid Office.
Repayment Due Date
The repayment due date for emergency loans is November 1, 2007
- If outstanding balance is not paid in full by due date, a $30.00 late payment fee will be assessed.
- If payment is not received by the loan’s due date the debt will be sent to an external collection agency and reported to the credit bureau. The student will be responsible for collection costs plus the loan amount.
Qualifications
- Be at least 18 years of age.
- Be currently enrolled in at least three (3) credit hours.
- Not have an outstanding balance owed to STC.
- Not be in default with any student loans.
- Provide three (3) references.
- Name
- Address
- Telephone Number
- Be able to demonstrate ability to repay loan.
- Proof of upcoming Financial Aid disbursement.
- Employer information.
- Other payment source information. (i.e., parents, spouse, etc.).
Emergency Loan Process
- Register for the current semester.
- Report to the Financial Aid Office to complete an emergency loan application.
- Report to Cashiers to complete the installment agreement and Pay $30.00 installment processing fee at Cashier’s Office. Note: This step does not complete the loan process.
- Report back to the Financial Aid Office to complete a promissory note for loan processing.
- Verify your Account Statement (receipt) to ensure loan award has been applied