Short Term Loans
The Dean of Students Office offers Short Term Loans for emergency situations, should students meet the following loan 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.
- 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 firstname.lastname@example.org.
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.