Our Randolph Gilbert Student Emergency Loan Fund offers short-term loans to students experiencing temporary financial difficulty.
A loan from this fund can make it possible for you to register on time when one of your student loan checks is delayed for reasons beyond your control. This is not a long-term financing program, and the loan must be repaid on or before the due date. Loans are normally due by the end of the semester in which the loan is made. An extension may be requested for mitigating circumstances.
The loan limit is $8,000. Interest is charged on the unpaid principal balance at an annual percent rate of 8%. Failure to repay the principal and interest when due may result in a $25 late fee and other penalties at the discretion of the College. A creditworthy cosigner other than a spouse may be required in some cases, and always for a first-year, first-semester student. Emergency loans are not made to students on probation.
Emergency loan checks are disbursed on Friday mornings, for applications received by noon on Wednesdays.