Short term loans may be sought by students when an unexpected life event or circumstance takes place that causes financial hardship. These loans are generally under $500. They may not be used for paying tuition/fees or any fines. Dollars for this fund are from generous gifts from private donors and from the proceeds of fundraising efforts by student organizations. Short term loans should be paid back within 3 months and are interest-free during this time period. If a loan becomes past-due, then 8% interest is charged and a $10.00 per month late fee. You can apply for an extension if you need one during the allocated time.
To Apply for a Short Term Loan:
- Print and fill out a copy of the application form.
- Call the Dean of Students Office at 608-263-5700 (or go to 70 Bascom Hall) to make a 30-minutes appointment to meet with a staff member. Turn in the application when you make the appointment
- Meet with a Dean of Students Office staff member to discuss your application
- If your loan is approved, it will be available for pick up the following business day after 1pm in the Bursar’s office
Directors in the following offices are also able to meet with students and approve Short Term Loan applications:
- Lesbian, Gay, Bisexual, and Transgender Campus Center
- Multicultural Student Center
Common Uses for a Short Term Loan:
- Unexpected medical expenses
- Car repair
- Travel expenses for family emergency
- Replacement of items lost to theft/fire damage
Persons applying for short term loan funds must be enrolled at the time of application. If applying between semesters, you must have been enrolled during the previous term and be enrolled for the following term. If a student has an outstanding short term loan, they are not eligible for further loans until the previous loan is paid. In order to obtain a Short Term Loan during the summer, you must be enrolled in summer classes.
Exceptions to this policy can be made on a case-by-case basis, and will be determined during your meeting with a Dean of Students Office staff member.