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EMERGENCY LOAN FUND

The LGS Emergency Loan Fund is designed to assist students in addressing unexpected financial crises, such as illness, job loss in the family, and delays in other types of funding. The maximum loan amount is $1,000. A student who receives an emergency loan must sign a promissory note agreeing to repay the loan within 89 days of issue. Emergency loans are interest-free for 89 days. 

Section 3.1: Eligibility 

A loan applicant must be a full-time student in a degree program and be enrolled in at least nine credit hours in the term they wish to receive the loan. 

A loan applicant must have no outstanding debt due to a previous loan from the LGS Emergency Loan Fund or the university. 

A loan applicant must demonstrate an emergency financial need. Students in non-degree/special standing are not eligible to receive emergency loans. 

Section 3.2: Procedure 

Emergency Loan Fund application forms are available in the LGS office and on the LGS website. Applicants must complete the application form and email it to the administrator listed on the emergency loan website. The student is also required to state on the application how the loan will be repaid. 

New students are eligible to apply for emergency loans once the following conditions are met: 

  • The student is enrolled full-time in the current term; and 

  • The student’s financial aid has been posted or is pending (students should consult their OPUS account for their financial aid status) 

Finally, new students must have their DGS, PD, or program administrator sign the emergency loan application. 

LGS must approve all loans. Requests are usually processed in 1-2 days. 

After the loan request is approved, the student will be emailed a promissory note and direct deposit form to be filled out and returned by email. The loan is usually direct deposited within 1-3 days of receipt. 

Loans must be repaid in full within 89 days of issue. The loan amount and payment due date will be posted to the student’s account when the loan is issued. When the emergency loan is due for repayment, this amount will become a current charge and appear on the student’s bill during the next billing cycle. 

Past-due emergency loans are subject to interest charges. Additionally, student borrowers who do not repay loans according to schedule shall be responsible for paying any costs associated with the loan collection, including attorneys' fees. Nonpayment can result in the student not being allowed to register, receive a transcript, or graduate.