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Short Term Loans

The Dean of Students Office offers Short Term Loans for emergency situations, should students meet the following loan requirements.

 

Eligibility Requirements

  • A 2.0 or higher GPA
  • Current enrollment at UNM for at least 6 hours*
  • Past due balance in Bursar’s must be less than $200.00

 

A Service Charge of 7% is added to all loans when processed. If requesting the full $800, the Service Charge is $56. 

 

Please Note:

  • Students can receive up to two Short Term Loans per semester
  • Only one Short Term Loan may be taken out at a time, and loans must be repaid in full prior to any application for a second loan
  • Regular full or part-time UNM faculty or staff members earning benefits are not eligible for a Short Term Loan (student employees and work-study students are eligible)
  • The maximum loan amount is $800.00 (plus the 7% service charge)
  • Short Term Loans and the associated 7% service charge must be repaid within 45 days of the application date
  • Payment should be made to the Bursar’s Office. The Dean of Students Office cannot accept any form of payment for a Short Term Loan
  • Short Term Loans may not be used to pay back the University (including Bursar’s, the Bookstore, or Residence Life & Student Housing)
  • Loans are typically direct deposited within 24-72 hours. Weekend deposits may take an additional 24 hours depending on your bank

 

If you have any questions about these requirements, please contact us at (505) 277-3361 or doso@unm.edu.

Loan processing closes at 2:30 PM, Monday thru Friday. Students signing up for a loan after 2:30 PM will have to wait till the next business day for the loan to be processed. Please visit the Dean of Students Office to apply for a Short Term Loan.

 

 

*During summer school a student must be either enrolled for summer or be enrolled for at least six hours for the fall semester.
*During the intersession a student must be enrolled for the following semester.