Student Financial Services
Emergency Short-Term Loans
The UCM Emergency Short-Term Loan program assists students who need financial help fairly quickly for non-UCM expenses such as rent, food, car repairs, etc. An otherwise eligible student is normally permitted to borrow up to $1000 in Short-Term Loan funds for a specific semester.
To qualify to receive a UCM Emergency Short-Term Loan, you must be enrolled at least half-time for the semester during which you'll receive the loan funds. In addition, you must have forthcoming financial aid with which the loan can be repaid. A loan cannot be approved against employment or other outside sources of assistance. A Short-Term Loan can be approved only if you have no outstanding unpaid or past due UCM charges, nor any record of check(s) returned to UCM due to insufficient funds.
If you are approved a Emergency Short-Term Loan, you will be required to participate in on-line Financial Awareness Counseling through the U.S. Department of Educations's Student Loans website (www.studentloans.gov)before your loan assistance can be paid. (This counseling is separate from the Stafford Loan Entrance Counseling you may have completed.)
To apply for a Short-Term Loan, complete and submit to the Office of Student Financial Services the Short-Term Loan Application. Be sure to carefully read the information and policies, and be aware of the disbursement schedule. It can take several days from the date you apply for a Short-Term Loan for you to actually receive your loan check.
