Short Term Loans

Students who

• have submitted a FAFSA application at least six weeks prior to the start of an academic term,
• have been awarded financial aid, and
• have completed all steps required for funds to be disbursed

may be eligible to receive a short-term loan to assist with emergency cash resource needs, if they are not expected to receive their overage balance on the next scheduled financial aid disbursement date.

The financial aid funds to be disbursed must exceed the student’s account balance by at least $300.

The standard limit on short-term loans is $300.

Short-term loans are issued no earlier than the first class day of an academic term.

Short-term loans may be issued as a check to be picked up at the Campus Hub, or directly deposited to the student’s bank account.

Short-term loans issued will be reflected as a charge on the student’s account and are to be repaid when the financial aid funds are disbursed.

Short-term loans are not approved for students who are eligible to charge textbook purchases at the Barnes & Noble Bookstore @ MSU at the beginning of fall or spring semester.

A student may request a short-term loan for the purchase of textbooks only after the first financial aid disbursement date of the term, provided all other eligibility requirements are met.

Applications for short-term loans are available at the Campus Hub.