Emergency Short-Term Loans & Book Loans

Emergency Short-Term Loans for Tuition and Fees

Stephen F. Austin State University sets aside funds each semester for students who have a temporary need for money to take care of tuition & fees. Short-Term Loans will be for the first installment of your tuition & fees. Please make sure that if you need to add classes that you do so before applying for the Short-Term Loan. Short-Term Loans are only available during registration. Short-Term loans are billed through the student's account for tuition & fees. A service fee of 1.25% will be charged to your student account. Any payments crediting your student account after the Short-term loan is disbursed will be used to repay this loan only after all other student account charges have been paid. If the aid does not pay the loan in full, then repayment is due within 60 days of the 1st class day for Fall/Spring semesters.

Summer Short-Term Loans

No installment is required for Summer Short-Term Loans. The short-term loan will be for the full amount of the tuition and fees. If aid does not pay the loan in full, then repayment is due within 20 days of the 1st class day of the summer term in which you received the loan.

Student Requirements

  1. You cannot owe a prior balance.
  2. You must be currently enrolled for at least half-time (6hrs); minimum of 3 hours for a summer term.
  3. Your GPA must be 1.6 for Undergraduates and 3.0 for Graduates.
  4. You must provide a demonstrated means of repayment by the due date.  This means you are responsible for the Short-Term loan whether you receive financial aid or not.  Because your financial aid could be delayed or you may become ineligible for aid, you must list a means of repayment OTHER than financial aid on your application.  (Examples:  Parents, job, credit card, etc.)
  5. You must have a complete Installment Contract prior to receiving a Short-Term Loan. NO installment is required for Summer Short-Term Loans

 

How to Apply

  1. Login to mySFA
  2. Click on Self-Service Banner.
  3. Click on Student Tab.
  4. Click on Registration.
  5. Scroll down to find Short-term loan link.
  6. The system will check to see if you are eligible.  If you meet all the requirements, you will be instructed to fill out the General Application for Short Term Loans.  If you do not meet the requirements, you will receive a message explaining why and what you need to do.

 

Once you have completed the application and hit the submit button, you will receive an approval page confirming the payment will be made.   

Please Note: Failure to complete all steps will result in your classes being dropped. Please check your student account online to make sure your bill is paid by the drop date.

Failure to repay this loan as scheduled may result in the following:

  1. Registration will be blocked at Stephen F. Austin State University.
  2. Copies of Official transcripts and your diploma will be held.
  3. Your loan can be assigned to a collection agency.
  4. If you have not repaid your loan as agreed, we reserve the right to deny you any additional loans.

 

Service Fees

Service Fees are added to the short term loan amount. The service fee is 1.25% of the total amount borrowed.

(Example: $1087.00 tuition & fees = service charge of $13.59. The amount due is $1087.00 + $13.59 = $1100.59)

 

Book Loans

Stephen F. Austin State University sets aside funds each semester for students who have a temporary need for money to take care of expenses (i.e. tuition/fees and books). Book Loans are only available during registration. The amounts of the Book Loans are $500 Fall and Spring and $600 for the Summer. A service fee of 1.25% will be charged to your student account. Any payments crediting your student account after the Book Loan is disbursed will be used to repay this loan only after all other student account charges have been paid. If the aid does not pay the loan in full, then repayment is due within 60 days of the 1st class day for Fall/Spring semesters.

Beginning Fall 2014 all book loan funds will be sent to your HigherOne card. You will no longer be able to pick up your book loan funds in person. Book loan funds will be processed overnight. The following day a list of students who have been approved will be sent to the Business Office for processing via HigherOne. The selection you have made with HigherOne determines how quickly you will receive the proceeds from your book loan. In most cases, the proceeds will be available on your HigherOne card or in your bank account within a few days. However, if you have not made your selection with your HigherOne card or you have a state hold, it may delay your book loan proceeds. Please contact the Business Office if you have questions about your state hold. They will process your book loan proceeds as soon as they are notified that your hold has been cleared.

Summer Book Loans

Book Loans are only available during registration. The book loan for summer will be $300 for EACH summer term. If the aid does not pay the loan in full, then repayment is due within 20 days of the 1st class day of each summer term.

Student Requirements

  1. You must be currently enrolled at least half-time (6 hrs.); minimum of 3 hours for a summer term.
  2. You cannot owe a prior balance.
  3. Your GPA must be 1.6 for undergraduates and 3.0 for graduates.
  4. You must provide a demonstrated means of repayment by the due date. (Example: Job or Parents. Financial Assistance is not a means of repayment.)
  5. Your current semester tuition and fees must be paid in full or one-third of the current semester tuition and fees must be paid, and you must have a completed Installment Contract with the Business Office.

 

How to Apply

  • Go to mySFA
  • Click on Self-Service Banner.
  • Click on Student tab.
  • Click on Registration link.
  • Scroll down to find Book Loan link.
  • System will check to see if you are eligible. If you meet all the requirements you will be instructed to fill out a Book Loan Application. If you do not meet the requirements you will receive a message explaining why and what you need to do.
  • Once you are approved you will receive a confirmation webpage that will indicate you have been approved. Please keep in mind that book loans are processed overnight. A list of all approved students will be sent to the Business Office the following morning. The Business Office will now process the payment to you through your HigherOne card.

 

Failure to repay this loan as scheduled may result in the following:

  1. Registration will be blocked at Stephen F. Austin State University.
  2. Copies of Official transcripts and your diploma will be held.
  3. Your loan can be assigned to a collection agency.
  4. If you have not repaid your loan as agreed, we reserve the right to deny you any additional loans.

 

Service Fees

Service Fees are added to each book loan amount. The service fee is 1.25% of the loan amount.

(Example: $500.00 book loan = $6.25. The amount due is $500.00 + $6.25 = $506.25)

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