Emergency Loan Advances
Emergency loan advances are written requests for funds to use in emergency situations. An emergency situation is defined as an unexpected, immediate situation. Emergency loan advances are not available to compensate for cash-flow problems: you are expected to budget your finances throughout the calendar year and handle your personal expenses accordingly.
The following rules apply:
- All advances are initiated in the Office of Financial Aid and must be reviewed by the Bursar's office and the Faculty Student Association.
- Eligible students are those who have submitted a completed FASFA,
SUNY DMC Financial Aid Application and the Federal Tax Return or
an Affidavit of Income Form). You must have enough financial aid
remaining, after institutional charges are deducted, to cover the
amount of the advance - the Bursar will determine this.
- Eligible students are those who are registered for classes for the current semester.
- Emergency loan advances are available during normal semester enrollment periods. Applications for the advance for any semester are accepted no earlier than the beginning of the week before the student's first day of classes.
- Awards can not exceed $1,000 per semester.
- Approved emergency loan advances are available at the Faculty
Student Association on Friday. The deadline for applications to be
received in the Office of Financial Aid is Tuesday by
11 AM. Late applications will be processed the following week.
- Emergency loan advances are made available through the Faculty Student Association. Therefore, there is a $1 processing charge per $50 by the FSA of the amount borrowed. Unfortunately, the processing fee cannot be waived.
The application form is located in the Forms section of the site.
