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Emergency Loan Program FAQ

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The Emergency Loan Program (ELP) is authorized by Section 56.051 of the Education Code which authorizes emergency loans to students to assist them in paying tuition and fees. Loans are offered on a first come, first serve basis as funds are available.

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  • Eligibility criteria are:

    • Registered for classes
    • Unable to make minimum down payment
    • No holds
    • Valid SSN
    • Have a minimum GPA of 2.0 (continuing students)

    If you need to discuss the eligibility criteria with SBS, please call the Collections office at 512-245-2721.

     

  • The loan is an online application and can be found here:
    https://tim.txstate.edu/emergencytuitionloan/Home.aspx

     

  • The application is opened following the first financial aid disbursement date of the semester
    which is typically 10 days before the first day of classes.

     

  • Emergency Loans have an origination fee of 1.25% of your loan amount. This charge is added to your account at the time you receive the loan. If the loan is not paid in full by the due date, a late charge of $25 per months (for up to six months) will be added until paid in full.

     

  • Once your loan is approved, funds are put on your student account. For off-campus students,     
    this amount is equal to your required down payment for a payment plan. If you are on-campus     
    or have a meal plan, the amount will be up to 100% of your total tuition and fees in an effort to at least cover your minimum due. When you sign up for your payment plan, the loan will show up as a payment on your account. You MUST either sign up for a payment plan, or pay your remaining charges in full. Simply applying for and receiving this loan will not complete your payment process. To sign up for a payment plan, click the link below:

    http://www.sbs.txstate.edu/

     

  • There could be several reasons for the payment plan enrollment to ask for money such as having multiple browsers open or adding classes after you receive the loan. Before proceeding any further and risk making a payment you did not intend to, please call Collections at 512-245-2721 to discuss the process with our staff.

     

  • Loans are due the same semester they are issued and typically on the final installment due date for the term. For example, fall loans are usually due in November.

     

  • The Emergency Loan is applied to your account but a short-term loan where a student can borrow up to $550 can be applied for once you have completed your payment process. To apply for a short-term loan, click the link below:

     https://tim.txstate.edu/shorttermloan/Home

     

  • Your financial aid disbursements will automatically pay the loan for the current term. If you wish to make partial payments on your loan, you can do so on our payment site below by selecting pay by item. Payments are locked during the registration payment period but once unlocked, you can select the amount to pay: http://www.sbs.txstate.edu/

     

  • If the loan is not paid in full by the due date, a financial hold will be placed on your account and you will not be able to register or request an official transcript until it is paid in full. Late charges of $25/month are assessed (up to six months) until the loan is paid. Defaulted loans are subject to being referred to an outside collection agency and credit reporting and you will be responsible for any additional fees that are added by the agency.