Emergency Loans

The Personal Emergency Loan is designed to assist deserving students with emergency funds in response to unforeseen circumstances. Emergency is defined as an unforeseen situation that could not be prevented or planned for. Loans will be administered only as long as funds are available in the program.  Emergency Loans cannot be used to pay an AU bill.  To be eligible for this loan, you must meet ALL of the following criteria:

• Cannot have financial or judicial holds on records. 
• Must be currently enrolled as a full- or part-time student. If the loan is requested within three calendar weeks of the end of the semester, student must be enrolled for the following semester.
• Any prior Personal Emergency Loan must have been paid in full.
• The student must be able to demonstrate a plan for repayment.

Applications are available from the Office of Student Affairs (Carnegie Hall), or click here to print one. Once the student has furnished all required information on the application, the student must personally deliver the application to the Office of Student Affairs for approval. Applicants will be required to meet with the dean of students or designee prior to loan approval. Students are welcome to call in advance for appointments (2132).

The maximum amount allowed to be borrowed is $300 unless the Student Accounts Office advises us that there are funds still to be moved from Financial Aid to your student account that would cover the requested amount.

The loan must be repaid at a maturity date to be set by the Office of Student Affairs.  An extension would be considered if it is an extreme and unusual circumstance and the student contacts the office prior to the maturity date. Otherwise, a late fee of $35/month will be assessed the student.

Repayment of the Personal Emergency Loan is due on the maturity date as specified in the application, UNLESS the student is receiving financial aid in any form. If the student receives financial aid, the proceeds of the aid received will first be used to settle any University obligations regardless of the due date of any personal loan debt owed to the University. If the financial aid received is less than the debt owed, then the full amount of the aid received will be applied to the debt owed and the student will be liable for the remainder. 

Personal Emergency Loans are available all semester, beginning with the first day of classes.   Loans are not granted during the last three weeks in the semester unless the student has enrolled and prepaid his/her fee for the following semester.  No emergency loans will be made between semesters. 

Once a determination for a loan is made and appropriate documentation is completed, the funds should be issued to the student within 1 working day.

All repayments are to be made to the Student Accounts Office (Seidlin Hall) or paid on-line through the CASHNet system.  If you are paying by check, the check should be made payable to “Alfred University.”

Exceptions to these policies may be made in unique or unusual situations with the express permission of the Student Affairs staff member facilitating the loan application.