PSU Short-term Loans

Short term loans are issued to students that are registered for at least one credit for the current term and meet the eligibility requirements. 

Program Eligibility

Students must meet the following criteria:

  • Must be enrolled in current term courses for credit (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.

Requirements

  • A limit of two short term loans per term is 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 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 repayment history with the University.

Available Amounts

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

Availability Date Range

Term Availability
Fall 2020 9/21/2020 - 11/25/2020
Winter 2021 12/28/2020 - 2/26/2021
Spring 2021 3/22/2021 - 5/28/2021
Summer 2021 6/14/2021 - 8/27/2021