Short-Term Loan Program

The Dean of Students Office administers a small fund intended to assist students in unexpected, emergency situations. Funds for the Dean of Students Short-Term Loan Program have been donated to the University by parents, friends and alumni. Loans from these funds are short-term, interest-free, and limited in amount.

Loans

Emergency Loans - Can be issued the same day; if the student can demonstrate that a small amount of money ($125 or less) will make a significant difference in being able to handle an unexpected situation. Examples of situations in which students may seek an emergency loan are a lost wallet, transportation (i.e. bus transportation) for an unexpected need to travel, a need to book a hotel in an emergency, medical supplies for illness or injury, etc.

Living Expense Loans - Will only be issued after the student meets with a Dean in our office. These loans take 2 to 4 business days to process. Living Expense Loans are intended to help students buy necessary items until alternate funding (Financial Aid, G.I. Bill or other Military benefits, next paycheck, etc.) is available. These loans are typically $500 or less, but could be up to $1,000 in extreme situations.

Loan Requirements:

• Detailed completion of the Short-Term Loan application (PDF)
• Proof of enrollment at UMass Amherst
• Proper identification, UMass ID
• No outstanding loans with the Dean of Students Office
• No administrative withdrawals from the University for late payments/failure to pay
• No excess of outstanding debt at UMass Amherst
• Proof that the loan can make a significance difference in the current situation
• Proof that the current situation was unexpected
• Documentation of ability to repay the loan within a timely manner (employment verification or proof of incoming financial aid or other benefits)
• For Living Expense Loans, a meeting with a Dean in the Dean of Students Office
• The signing of a Waiver of Understanding (summary of loan terms), available in the Dean of Students Office.