Emergency Loans awarded by GHSU

Emergency Loans are short-term loans made available by Georgia Health Sciences University.  The purpose of the loan is to assist currently enrolled students facing an emergency financial situation. 

 

EMERGENCY LOAN INFORMATION

The maximum loan amount is $500, and a $15 service charge is associated with each loan.  The full loan amount must be repaid within 60 days, and all students must sign a promissory note agreeing to repay the loan by the specified due date, a truth-in-lending statement, and complete an emergency loan application.  If a student defaults on an emergency loan, a $50 late fee will be assessed and the student loses their eligibility to receive any future emergency loans.

A student can choose to either have the funds applied to open tuition and fees or processed as a refund.  If the student has a past due balance on PULSE, the loan must be applied to all open charges prior to being refunded.  Emergency loan refunds will be directly deposited to a bank account for those signed up for eDeposit; all others will receive a mailed refund check at their most current mailing address on PULSE.

An AR hold will be placed on the student account after the emergency loan charge is posted, which will be removed once full payment is made.  The hold will keep a student from progressing to the next semester or graduating. 

 

APPLYING FOR THE LOAN

Emergency Loan Application forms must be completed and submitted to the Campus Business Office.  Submission of an application does not guarantee approval.  Please also note that loan funds are limited and we may not be able to accommodate all requests.  The Campus Business Office reserves the right to deny loan approval to any student based on past payment history.

 

• Main campus students must submit the original form in person at the Campus Business Office.  Once the loan is approved, the student must fill out a Promissory Note & Truth-in-Lending form (original signatures needed).  Loans will be awarded to the student’s account and applied / refunded within 3 business days.

 

• Satellite campus students must send completed application forms either by fax to the Campus Business Office at (706)434-6872 or by email to Campus Business Office .  Once the loan is approved, the student will be notified via email.  The email will contain the Promissory Note & Truth-in-Lending statements to be completed and faxed back to the Business Office.  When the faxed copies are received, the loan will be placed in ‘Memo’ status until the original documents are received.  Student must mail originals.  Once received, loan will be awarded and applied / refunded within 3 business days.  Loan will be cancelled if original forms are not received within 15 days.

REPAYMENT

All Emergency loans are due within 60 days of being awarded.  For upcoming graduates, the due date will be set for a reasonable date prior to the student’s graduation date if it is less than 60 days from the date of award.

Emergency loan charges (original loan amount plus service charge) can be repaid multiple ways.  The charges will show on PULSE, where the student can pay via WebCheck (free) or credit card (MasterCard, American Express, or Discover at a 2.75% convenience fee rate.)  Payment can also be made in the Campus Business Office with cash, check, or money order.  A check can also be mailed to our address. (See left margin for address)  All charges must be repaid in full by the repayment date listed on the Promissory Note.

Failure to repay an emergency loan by the due date will result in a $50 late fee.  A student will not be allowed to progress to the next semester or graduate with an emergency loan balance.  Collection efforts commensurate with Board of Regents policy will be followed until exhausted, at which point the student account will be submitted to our collection agency, and the student will be responsible for any and all collection costs associated with collection of the debt.