Section 800: Financial Affairs

Effective: April 2021
Revised: August 2023
Last Review: August 2023
Next Review: August 2025
Responsible Party: Controller

Policy:

A Short-Term Loan is intended to helps student in an emergency when they have exhausted all other financial resources. This is the result of an unforeseen emergency situation. Please note that a Short-Term Loan is NOT financial aid and cannot be used to pay student account charges from this institution or any other institution. The Short-Term Application must be completed. Please visit the Financial Aid Office or Business Services for the application.

Loan Terms:

  • The loan may not exceed $500.00.
  • If approved, a $25 non-refundable processing and service fee is assessed to your MSUN account.
  • Only one short-term loan may be borrowed each semester.
  • Loans will not be processed the same week as refunds..

Eligibility Requirements:

  • Must have submitted all required financial aid documents. 
  • Student cannot be on appeal with financial aid.
  • Must have enough financial aid availability to cover the short-term loan.
  • Must be enrolled at least half-time for the current semester.
  • Must have a minimum cumulative GPA of 2.00.
  • Must complete the Student Confirmation & Payment Agreement Form for the current semester.
  • Must be in good financial standing with Business Services.