Short-term loans are available to eligible students experiencing an
unexpected financial emergency. Loan applications are subject to
approval and may be denied where loan repayment is in question, the
circumstances do not appear urgent or emergency-related, or the
applicant appears to be over-reliant on the emergency loan program in
lieu of managing a budget. Loans are generally due in 30 days.
How to Apply
You must meet with an advisor in the Financial Aid Office to
complete the Short-term Loan Program Acknowledgement Statement and the
Short-term Loan Application and Promissory Note. The maximum loan amount
is $500. Exceptions must be approved by an Assistant Director or
higher.
You must provide an acceptable photo ID. The Bursar’s Office will
issue a check for the short-term loan amount, usually during the same
visit.
Dates of Availability
For continuing students, short-term loans are available no earlier than one week before classes start each semester.
For new students, short-term loans are available no earlier than the first day of classes during your first semester at the CU Denver Campus.
Eligibility Requirements
- Must be at least 18 years old
- Must be enrolled at least half-time in an eligible undergraduate,
graduate or professional degree or certificate program. Minimum
half-time is defined as six hours for undergraduates, three hours for graduates, and five hours for professional students
- One thesis or dissertation hour is considered full-time
- Must have submitted the Free Application for Federal Student Aid (FAFSA)
- Must be meeting Satisfactory Academic Progress (SAP) standards
- Must have tuition charges paid in full or have anticipated financial
assistance that will not be available for at least one week
- Must not have a history of delinquent short-term loans or other outstanding debt to the university
- Must not have borrowed a short-term loan for the same semester
- Must not be employed by the university (except work-study employees and student hourly employees)
- Must have a verifiable source of income through Veteran Benefit educational programs (if applicable)
Loan Terms
Garman Short-term Loans are interest free for 30 days. A late
payment service charge of 1.75% per month will be assessed on all loan
amounts not paid by the due date.
An administrative fee of $10 is assessed for each short-term loan.
This fee is automatically added to the loan balance and is repaid when
the loan is repaid.
The maximum loan amount is $500. Exceptions must be approved by an Assistant Director or higher.
Repayment Terms and Payment Options
The principal loan amount and administrative fee are billed
through your student account and are due 30 days from the application
date of the loan.
Financial aid awards, loans, or other credits to your student
account may result in the loan balance being paid before the due date.
Borrowers are responsible for repayment whether or not they receive a bill.
To grant the university permission to use your financial aid funds to pay charges other that tuition and fees, go to UCDAccess and click the following: Student Center > Account Inquiry > Account Services > Student Permission.
Default Policy
Failure to repay this loan when due may result in any or all of the following:
A late payment service charge of 1.75% per month will be assessed for all loan amounts not paid by the due date.
Disenrollment from the university, denial of registration,
scheduling, transcripts, and issuance of diploma; possible referral to a
collection agency; possible suit for payment.
Refunds of financial aid funds or other monies awarded or due you from the university may be used to repay the short-term loan.
In the event it becomes necessary to enforce the payment of this
note, or any part thereof, by action of law, or otherwise, you may be
liable for any costs of collections allowed by the Uniform Consumer Credit Code, including reasonable attorney fees.
