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Short Term Loans

 

Program Eligibility

Students must meet the following criteria:

  • Must be enrolled in current term courses (this includes Summer).
  • Must have their account balance paid in full, or be current on the PSU Payment Plan.
  • Have no previous term outstanding balances.
  • Have no other short term loans outstanding.
  • Cannot be employed by PSU at .5 FTE or higher, excluding student employees.


Program Outline

  • A limit of two short term loans per term if enforced - no exceptions.
  • If a previous short term loan was paid off by Financial Aid, students will not be eligible for a new short term loan until after census date.
  • Photo ID must be presented at the time of application.
  • A service fee is associated with this loan, based on the amount of the short term loan issued, is required.

 

Approved Short Term Loan funds are sent to Higher One and distributed via the student's chosen refund preference the day after the loan is approved.

Short Term Loan funds are subject to the payment plan schedule for the current term and will be automatically included in the plan's installment amounts. For example: a $300 loan borrowed before the first payment plan due date will increase the first installment by $105, including the $15 fee.

Short Term Loan Requests may be denied if the student does not have a good credit history with the University.

 

 

Available Amounts

Loan Fee
$50 - $100 $5
$101 - $250 $10
$251 - $400 $15
$401 - $600 $20

 

Availability Date Range

Term
Availability
Summer 2016
6/13/2016 - 7/29/2016
Fall 2016
9/19/2016 - 11/25/2016
Winter 2017
1/2/2017 - 3/10/2017
Spring 2017
3/27/2017 - 6/2/2017
Summer 2017
6/12/2017 - 7/28/2017