Short Term Loans | Financial Aid Office | SIU

The Short Term Loan program provides temporary funds to students for books and supplies, living expenses, medical expenses, unexpected emergencies, and other expenses. In addition, Short Term Loans may be provided to students who are experiencing delays in receiving their financial aid funds. A Short Term Loan cannot be used to pay University charges.

If the eligibility criteria are met, one Short Term Loan will be approved per semester, unless there are extenuating circumstances. Students do not have to apply for or be receiving financial aid to apply for a Short Term Loan. Students will not be approved for a Short Term Loan if they have a credit balance on their University Account.  

Loans must be repaid within 30 days or subject to late fees.

Eligibility Criteria

• Undergraduate students must be registered for six (6) or more credit hours (Fall, Spring or Summer);
• Graduate/professional students must be registered for six (6) or more credit hours during Fall and Spring semesters and three (3) or more credit hours during the Summer term.
• Students must not have a delinquent balance on a prior Short Term Loan.
• Must be making Satisfactory Academic Progress.
• Must have financial aid that would cover the amount of current university charges and the Short Term Loan.
• Students who do not repay Short Term Loans by the due date indicated on the application/promissory note may lose eligibility to receive future Short Term Loans.

Students with extenuating circumstances may be approved for higher loan limits or additional Short Term Loans during a semester if the student provides sufficient reason(s) and the request is approved by a Financial Aid Office staff member. The Director and Associate Director may also make professional judgment exceptions to the eligibility criteria (listed above). International students should contact The Center for International Education for additional information about short term loans.