Crisis Loan

Please utilize the Office of Student Financial Aid for financial questions during this time.
The Office of Student Financial Aid has a team of people ready to help connect you to the financial and other resources you may need.  Students should submit a request through the Student Center (Financial Aid tile > Request Action) or email finaid@finaid.wisc.edu and indicate “Covid-19” in the subject. Funds are available for all students, regardless of FAFSA eligibility.

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.

UPDATE per COVID-19

The Bursar Office will be closed to the public beginning March 16th, 2020 until further notice. The Short Term Loan process is temporarily moving to on-line and we are estimating that it will take approximately 3 business days to process a Short Term Loan.

  • Your Short Term Loan (STL) application should be emailed  to dean@studentlife.wisc.edu
  • The STL Promissory note will be emailed to the student to sign.  The student will be responsible for emailing the signed document back to the stuloans@bussvc.wisc.edu email address.
  • The following two options will be available for Short Term Loans however, the ACH Refund is the preferred method.
    • ACH Refund to Student
      • Dean of Students Staff will work with student to make sure e-refund is set up in their student center
      • It will take approximately 3 business days from the day the student signs and returns the promissory note to receive the funds.
    • A paper check is still an option if e-refund can’t be set up;  these will only be processed twice a week and will require an appointment with the Bursars Office to pick up the check

 

To Apply for a Short Term Loan:

  1. Print and fill out a copy of the application form.
  2. Call the Dean of Students Office at 608-263-5700 to make a 30-minutes phone appointment to meet with a staff member
  3. Meet with a Dean of Students Office staff member via phone to discuss your application

Contact Information (Students will receive responses in 24 hours and can request assistance in four ways)

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

Pre-Requisites/Requirements

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.