• Emergency Loan Information

    Purpose

    - The emergency loan program is designed to assist students who find themselves faced with unexpected financial emergencies that affect their ability to function as a student.
    - The emergency loan program is carried out as a partnership between the Student Accounts Office and the deans of the various schools.

    Eligibility

    Hamline Students who meet the following criteria:
    - Enrolled in a licensure or degree-seeking program at Hamline University.
    - Registered for the current term and the term in which the loan is due, if applicable.
    - Demonstrated need for an emergency loan.
    - No past-due balance on their student account.
    - No outstanding payments due on an installment plan. (Emergency loans will not be granted for students to make payments toward their installment plan.)
    - No other outstanding emergency loans.

    Guidelines

    - Employees of Hamline University are not eligible for an emergency loan.
    - No emergency loans will be issued to pay Hamline University sponsored program deposits.
    - Students can apply for up to $500 at a time.
    -The cumulative loan amount per academic year is $1000. (Can not have more then a cumulative amount of $1000 due June 1 through May 31) 
    -Only one emergency loan per semester
    -No emergency loans will be issued more than ten days before the start of the term.

    Application Process


    - The student will fill out the Emergency Loan Request Form
    - A representative from the appropriate Dean's office will review the application and, if approved, send to the Student Accounts office for approval.
    - A representative from the Student Accounts office will notify the student within 24 hours if the application has been approved or denied.
    - Upon approval, the funds will be processed as either a direct deposit refund or by check, depending on what the student is currently signed up for. If signed up for direct deposit, it can be issued within 2-3 business days. Bank checks will be processed the following Monday or Thursday and ready the following Wednesday or Monday, respectively.

    Where to get an Application

    Please fill out the Emergency Loan Request form and then contact your program's Dean of Students office to notify them of your application and have it reviewed.


    College of Liberal Arts
    Dean of Students Office
    West Hall, Suite 106
    651-523-2421

    School of Education
    Dean's Office
    West Hall  
    651-523-2600

    School of Business
    Dean's Office
    East Hall, Room 229E
    651-523-2284

    Creative Writing Programs
    CWP House, 1500 Englewood Ave
    651-523-2476

     MSL 
    Drew Science #308
    651-523-2582 

     

    Repayment

    - The loan will be charged directly to the student's account.
    - The loan must be repaid within sixty days, three weeks prior to the student's graduation date, or by the end of the academic year (May 31), whichever comes first.
    - Financial Aid credited to a student's account will first repay all tuition and fees and then repay an outstanding emergency loan, even if the loan is not yet due.
    - If the loan is not paid by the due date, the student will be on hold for registration, grades, transcripts and diplomas.
    - When repaying, the student must indicate to the cashier that the payment is to be applied to the emergency loan.
    - If necessary, Hamline University will institute all necessary collection procedures to collect on a past due loan, and the student will be responsible and charged for all collection costs, including attorney's fees.
    - If a student leaves Hamline University and has an emergency loan that is not yet due, the loan will be accelerated and due immediately.
    - Interest will accrue at a rate of .67% per month (8 percent APR) on any past due loan.