Short Term Loans
Please read the following information before beginning your application:
Receiving a Short Term Loan may impact your ability to register for classes depending on the part of the term, your past due balance, and other factors. Please evaluate the short and long-term impact of a Short Term Loan prior to applying, and ask us for assistance if you are still uncertain.
• 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 $800.00, the Service Charge is $56.00.
- Students may 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 Loan funds are disbursed via direct deposit from the Bursar's Office unless direct deposit information is not available. Students who do not have current direct deposit information may receive a check in the mail approximately 2 weeks after loan approval
- Short Term Loans and the associated 7% service charge must be repaid within a minimum of 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
- Sources of Financial Aid that do not specify the type of charges that will be covered may automatically pay back your short term loan when applied to your Bursar's account
- Short Term Loans may not be used to pay back the University (including the Bursar’s Office, 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
- Loan processing closes at 2:30 PM, Monday thru Friday. Students who apply for a loan after 2:30 PM will have to wait till the next business day for the loan to be processed
Please contact the Dean of Students Office at email@example.com or (505) 277-3361 if you have accessibility needs or cannot complete the online application form.
*During summer school a student must be either enrolled in a minimum of 3 credit hours for the summer semester or six hours for the upcoming fall semester.
*During the intersession a student must be enrolled for the upcoming semester.