Illinois State University has a Short Term Emergency Loan program. A student that has an emergency need for funds goes to the Financial Aid Office to request a loan. The Financial Aid Office will have the student fill out a loan request stating the reason for the loan. They will work with the student to determine if the loan is needed, if the amount requested is necessary, and also the method of repayment. A due date is then agreed upon if the student is approved for a loan. Any questions regarding this procedure need to be directed to the Financial Aid Office at 309-438-2231.
After the Financial Aid Office approves the loan, the student signs a promissory note agreeing to repay the loan. The Financial Aid Office fills out a voucher, which is taken to the Cashiers' Office with the promissory note. A cashier then issues cash for the amount of the loan.
In certain instances, Student Accounts, Graduate School, and the Comptroller's Office may authorize a short-term loan. These offices approve the loan, require the student to sign a promissory note and issue a voucher to be taken to the Cashiers' Office.
Policy Owner: Vice President for Finance and Planning
Contact: Student Accounts (309-438-5643)
Revised on: 04/2013
