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Short Term Loan Program Information and Policies Spring Semester Office of Student Financial Services 1100 Ward Edwards Bldg

Short Term Loan Program Information and Policies Spring Semester Office of Student Financial Services 1100 Ward Edwards Bldg

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Overview of the Short Term Loan Program

The Short Term Loan Program offered by the Office of Student Financial Services is designed to provide financial assistance to students who need immediate funding for educational expenses. This program is essential for addressing short-term financial gaps that may arise during the spring semester. The loans are typically intended to cover costs such as tuition, books, and other related fees. Understanding the policies and eligibility criteria is crucial for students considering this option.

Eligibility Criteria for the Program

To qualify for the Short Term Loan Program, students must meet specific eligibility requirements. These generally include being enrolled at the institution, maintaining satisfactory academic progress, and demonstrating a financial need. Students may be required to provide documentation to support their application, such as proof of enrollment and a detailed budget outlining their financial situation.

Application Process for the Short Term Loan

The application process for the Short Term Loan Program involves several steps. Students typically need to complete a loan application form, which can be obtained from the Office of Student Financial Services. It is important to fill out the form accurately and provide all necessary documentation. Once submitted, the application will be reviewed, and students will be notified of their loan approval status. The turnaround time for approval may vary, so early application is recommended.

Key Policies and Terms of the Program

The Short Term Loan Program has specific policies that students should be aware of. These policies include the loan amount limits, interest rates, repayment terms, and any associated fees. Students are encouraged to review these policies thoroughly to understand their obligations. Repayment typically begins shortly after the loan is disbursed, and failure to repay on time may result in penalties.

Steps to Complete the Loan Application

Completing the loan application requires careful attention to detail. The steps generally include:

  • Gather necessary documents, such as proof of enrollment and financial information.
  • Fill out the loan application form accurately.
  • Submit the application to the Office of Student Financial Services.
  • Await notification regarding the approval status.
  • Review and understand the loan terms upon approval.

Important Dates and Deadlines

Students should be aware of key deadlines associated with the Short Term Loan Program. These may include the application submission deadline, the disbursement date, and repayment start dates. Staying informed about these dates is essential to ensure timely processing and compliance with the program's requirements.

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