|
Short-Term Loan Program
Student Fiscal Services - Custer Hall 100
600 Park Street
Hays, KS 67601
Phone: 785 628-4253
Fax: 785 628-4074
E-mail: sfsmail@fhsu.edu
Short-Term Loan Program
One of the services provided by Student
Fiscal Services is the administration of an Endowment Loan
program featuring short-term, low interest bearing loans. Alumni
and friends of the University who
understood the need for alternative assistance established the
loan program through the FHSU
Endowment Association. Although a loan through the Student Fiscal
Services Endowment Loan
Program must be paid back, minimum qualifications allow many FHSU
students quick access to funding for financial relief.
Loans are subject to availability of funds.
Loan Terms
- The interest rate for the loan(s) will be 4%.
- Loan maximums per semester (only one loan per
semester).
- $--$500 or one-third of the outstanding tuition balance
after application of other available aid. This loan will
be automatically applied to tuition.
and/or
- $--$30 per credit hour for educational expenses up to
a maximum of $450. Loan funds for educational expenses will
be applied to the student's Tiger Card.
Criteria
- The borrower must have a minimum cumulative GPA
of 2.0 or greater and must be enrolled in at least 3 credit
hours at FHSU.
- Students are eligible for a loan the next semester
as long as the previous loan remains in current repayment status.
- Students are ineligible for a loan if any of
their institutional loan history includes sporadic payments,
delinquent status, involvement with a collection agency, or
was written off for any reason.
- Students who have been granted a deferment on
a previous loan are ineligible for a new loan until repayment
in full of the existing loan is complete.
- Students may be ineligible for a loan if they
have any delinquent accounts at Fort Hays State University.
- The loan requires a cosigner who must be
someone:
- at least 21 years of age
- not currently enrolled as a student
- not the borrower's spouse
- who does not have an outstanding loan balance
with the FHSU Institutional Loan Program
- who has not cosigned for more than $3,000
in institutional loans for any borrower
- who is a United States citizen with a U.S.
address.
- The borrower and cosigner signatures must be
witnessed by a notary public.
- Both the borrower and the cosigner must
provide accurate and adequate addresses and references.
Processing and Disbursement
- Loans will be issued as per schedule determined
by FHSU Student Fiscal Services. No loan funds
will be disbursed before official enrollment.
- No loans are granted after midterm of any semester.
- Loan funds that are awarded for tuition and fees
will be directly applied first to current FHSU tuition and fees
and a receipt will be sent to the permanent address.
- Loan funds intended for educational expenses
will be deposited to the student's Tiger card (exceptions may
be made for students who do not have on-campus classes by notifying
Student Fiscal Services in writing at the time the loan application
is completed).
Loan Repayment
- Interest accrues at the rate of 4% per annum
on the unpaid principal balance.
- Payments for principal and interest will begin
approximately 30-45 days after the loan has been awarded. Monthly
payments are established so the loan account is paid off within
a year (payments will not be less than $40 a month). A 10% late
fee will be charged on delinquent accounts.
- A student may prepay the loan without penalty
at any time.
- If an account becomes 30 days or more overdue,
the borrower and the cosigner may not be allowed to enroll at
FHSU. Academic transcripts may also be withheld.
- Delinquent accounts may be turned over to collection
agencies, an attorney, or taken to small claims court with the
borrower paying all collection and/or litigation costs. The
same collection procedures may be used with the cosigner.
- An appeal committee will review written documentation
for loan exceptions, repayment extension or extenuating circumstances.
The decision of the appeal committee is final.
TigerTracks| Registrar
| Financial Aid | Residential Life | Virtual
College |