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Short Term Loan Program

A limited amount of money is set aside by the University for short-term loans to students who have a temporary need for money to take care of expenses related to being a student at Radford.  The maximum amount of these loans is $250, and the usual length of a loan period is 30 days.  If after reading the following information, you believe you qualify for a loan, you must complete an application form and promissory note which are available in the Financial Aid Office.  The application requires that you be specific with the requested information, especially the reason for requesting the loan and how it will be repaid.

In order for a student to be considered for a short-term loan they must meet the following criteria:

  • Be currently enrolled at least half time at Radford University
  • Be in good academic standing with the university
  • Have paid off any previous short-term loans in a timely manner
  • Have no outstanding short term loans
  • Have a definitive method to repay the loan by the due date

Students interested in applying should also be aware that -

  • Students who were late repaying a previous short term loan are no longer eligible to participate in the program
  • If you do not complete the entire application it will delay receipt of the loan funds
  • Short term loans will be made only when classes are in session
  • Short term loans will not be available any longer 30 days prior to the end of the semester
  • Students may borrow a short term loan no more than twice during a standard semester and once during a summer session
  • Loan repayment is required during the semester the loan is borrowed
  • If the loan is not repaid by the due date the student's academic records will be blocked until the loan is paid in full
  • If repayment is more than 10 days beyond established due date a late fee will be charged

If your short term loan application is approved -

  • Checks can be picked up at the student accounts office three business days after the loan is approved and the promisorry note is completed.
  • Loans are to be paid back at the student accounts office by 4:30 p.m. on the due date