Emergency Tuition Loan (TPEG)
Rules, Regulations and Criteria

Purpose:

Emergency loans in varying amounts are available to deserving students who have maintained a satisfactory academic record. A moderate service charge is assessed, and the loan must be repaid prior to the end of the semester during which it is borrowed. These funds have been made available through the following sources:

The Emergency Tuition and Fees Loan Program was authorized by HB 1147, 69th Legislature, for the purpose of providing emergency loans to deserving students who are experiencing temporary financial difficulties and who are unable to obtain funds from financial sources outside the University. Borrowers will have a maximum repayment period of 90 days from the date of execution on the promissory note. The interest rate on money loaned is computed at an annual rate not to exceed five percent(5%).

To Apply:

Ask Accounting staff for a Emergency Tuition Loan at time of payment for Tuition and Fees due for a semester.

The Process:

Accounting staff will apply balance of Tuition and Fees due to a promissory note at time of payment.  Student will sign promissory note and receive a copy of the note along with a Truth-In-Lending Disclosure as required by law.

Eligibility for loans:

To be eligible for this loan, you must meet ALL of the following criteria:

1. Have no student holds(bars)
2. Have no previous outstanding obligation

Maximum amount of loan: Tuition and fee balance

Maximum length of loan:

1. Maximum length of this loan is 90 days by state law.
2. No extension of the maturity date of the loan can be considered.

Payment of loan:

Payment of this loan is due on the maturity date as specified in the promissory note

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 obligations owed the University, REGARDLESS of the due date of any debt owed the University.  Any funds remaining after the settlement of debt owed will be available to the student. 

If the financial aid received is less than the debt owed, than the full amount of the aid received  will be applied to the debt owed and the student will be liable for the remainder.  HOWEVER, the student must come by the University Cashier to apply these funds to the debt owed.