Short-Term Loans
The primary purpose of a short term loan is to assist students with special circumstances with the payment of their Tuition or Books. Some short term loan funds may be approved for other emergency purposes during an academic term as funds permit. The maximum loan cannot exceed 100% of In-district Tuition and Fees. Loan approval for books cannot exceed the actual cost of books. Due to the limited availability of funds, students are highly encouraged to check with their Campus Financial Aid Office if they can qualify for both Tuition and Book Loan.
Eligibility Requirements
Student must meet the Satisfactory Academic Progress as set by DCCCD. Student must be enrolled and certified in at least 6 hours (half time).
Student must have an active Program of Study on file.
Student must not have any pending financial aid for Tuition (for Tuition Loan only).
Student must not have any outstanding Tuition balance (for Textbook Loan only).
Student must not be in default of any Federal or Institutional student loan.
Student must not have any prior Institutional balance or other blocks.
Student cannot use payment plan in conjunction with a Tuition loan.
Loan Approval
Applications that meet all the requirements will be approved on a first-come, first-serve basis until all funds are fully committed. Incomplete or unsigned applications will be denied. Loans that are approved, but not used at the close of regular registration will be voided and the funds will be made available to other applicants.
Payment Due Date
Tuition Loans may be approved for repayment deadlines of any length up to 60 days for Fall and Spring semesters and up to 20 days for Summer semesters. Textbook Loans are due a week after the official end of the semester.
Loans that are not repaid by the original due date will be subjected to late fees. If your loan becomes delinquent, a collection fee equaling one half of the total amount may be added to the balance due.
Repayment
Students may repay any portion of their loan prior to the deadline without penalty. Students unable to repay the loan in full by the due date may request an extension through the Financial Aid office prior to the due date. Students are reminded that late fees will be collected for any repayment that occurs after the original date due. If you have appealed for an extension of time in which to repay your loan, the late fee will still be collected regardless of the reason for the late payment.
For students expecting to receive financial aid, the loan must be paid as soon as the student receives his/her financial aid disbursement. Students who fail to comply with this repayment rule will not be eligible for future short term loans.
Students are required to repay loans in full, including late charge, before requesting another loan.
How To Apply
Fill out the application and bring to the Richland College Financial Aid Office in Thunderduck Hall T-130. To submit the application you will need to bring a valid picture I.D. Applications not submitted in person will be denied.