Short-term loans

Short-term loans are available on a limited basis for books at the beginning of each term, or for emergency situations throughout the term (considered on an individual basis). To apply for a short term loan, please see a student services representative at Bronco Express in the Bernhard Center.

Eligibility Criteria

• Registered for classes for the term
• Not available for WMU employees
• No past due charges on billing account
• WMU account is not and has never been in collection
• No outstanding "non-sufficient funds" (NSF) checks
• No history of three or more NSF checks
• Not in default on a federal loan
• No monetary registration hold
• The loan must be for books or related educational expenses (see Books/Emergency below.)
• If "current balance due" is not zero, financial aid for the current term is pending and the student meets the criteria listed below:
  • Financial aid pending for current term must be sufficient to cover current balance due
  • All requested financial aid documents have been submitted
  • If receiving a federal direct student loan - need signed master promissory note and entrance counseling completed
  • If receiving a federal perkins loan need signed master promissory note
  • If receiving a federal direct parent loan - need signed master promissory note, approved credit check and authorization by the parent that short-term loan may be paid by the PLUS
  • Meet the enrollment requirements for programs awarded.
  • Meet the satisfactory academic progress requirements for financial aid purposes

Books/ Emergency

Books

• Up to $400 credit if:
  • current term tuition and room and board balance paid in full, or
  • if current term's financial aid is pending and it is sufficient to cover balance owed.

Emergency

• Up to $500 if
  • account balance is paid in full or
  • if current term's financial aid is pending and it is sufficient to cover balance owed.
• Individual circumstances considered if you still owe a balance for current term
• Need documentation of bills owed (eviction notice, shut-off notice, etc.)
• Funds requested are for education-related expenses (rent eviction notice, medical, utilities shut-off notice, transportation repairs, food or child care)
• Loans are not approved for credit card bills, long distance telephone charges or cable television
• Checks are issued to the vendor and the student; available in 24 hours at Bronco Express in the Bernhard Center
• For extenuating circumstances only. Not intended for repeated use.

Repayment

• Loans are generally due in 30 days but no later than the last day of your enrollment for the academic year.
• If not paid by the due date, will incur a service charge at 1.5 percent a month on the unpaid balance.
• Delinquency in the repayment of a short-term loan will prevent future registration or release of transcripts