Student Emergency Loan

Download Emergency Loan Application

The Student Emergency Loan ensures students attending Menlo College have access to emergency aid when needed. The Business Office will maintain Petty Cash for this program.

Emergency Loan Requirement

Available to students who have completed at least 12 credit hours at Menlo College. Provided by Menlo College, the maximum amount is $200.00 to cover emergency expenses only. An emergency loan must be repaid by the end of the term in which it is made. A $10.00 service charge is added to the amount borrowed.

Loan Criteria (Subject to Change)

The Emergency Loan is specifically earmarked to cover such emergencies as (a) transportation to and from school, i.e., bus or cab fare, (b) school supplies, and (c) food (d) medical insurance co-pay for doctor visits and medicine, etc.

The student must provide documented proof (when possible) of need.
The usual maximum amount of the loan is $200.00. Exceptions maybe made only by the Dean of Student Affairs or designee.
The student must be currently enrolled as a full-time undergraduate.
No additional loans will be made if the student has a previous unpaid emergency loan(s).
The student must provide documentation of a re-payment plan within thirty (30) days of the loan.
The repayment of the loan should not exceed thirty (30) days. However, the student may request one thirty (30) day extension, if necessary.
Loans will be granted during the Fall and Spring semesters only.
The student may not receive grades or transcripts with an outstanding balance.

Application Process

An Emergency Loan Request and Re-Payment form may be picked up from the Dean of Student Affairs office or downloaded from the college website.>
Student completes and signs the Emergency Loan Request and attaches supporting documentation as needed.
Student will schedule an interview with the Dean of Student Affairs or designee.
Information that is provided will be verified as deemed necessary, including the repayment schedule
Decision to approve or disapprove loans is made by the Dean of Student Affairs or designee.

Check Preparation/Disbursement

If the student is approved for the loan, the Emergency Loan Request is completed and signed by the Dean of Student Affairs or designee.
The original Emergency Loan Request form is forwarded to the Business Office/Accounts Receivable for payment.
Checks will be issued normally within five working days after submission of completed documentation to the Business Office.
In extreme emergency cases, payment will be made from the Petty Cash. In this case, the student will sign the receipt of cash in person at the Business Office.

Repayment Process

Payments on student emergency loans will be received by the Business Office on or before the specified due date.

Process for Collecting Loans in Default

Students are considered to be in default if the loan has not been repaid by the date specified on the Emergency Loan Request and an extension has not been granted.

Students in default will be informed by letter within ten (10) days of original due date. The notification letter will restate penalties that are imposed. The student has ten (10) days from receipt of letter to respond.

Penalties imposed are as follows

A hold will be placed on scholarships or college work study checks.
A hold will be placed on transcripts or any official information related to academics.
Student will not be allowed to graduate, transfer, officially withdraw, or be readmitted to Menlo College.
Failure of student to respond within the deadline period may result in the account being turned over to a collection agency.

Reporting and Accountability Requirement

The Business Office will submit a written report of outstanding emergency loans to the Dean of Student Affairs on a quarterly basis.

The Business Office shall maintain all student loan files.

Download Emergency Loan Application