Emergency Loan Guidelines

1. Applicant must be a Clark State student and must be enrolled for at least six (6) credit hours during the quarter for which they are requesting funds. Students enrolled in Clark State's Continuing Education classes and Truck Driver Training Institute are not eligible. Students must have a 2.0 grade point average to be eligible to borrow from the fund.
   
   
2. Applicant may request a minimum of $20 to a maximum of $150, not to exceed $300 per year.
   
   
3. Applicant is eligible for four (4) loans per year with a maximum of two (2) in any given quarter. A second request for a loan may not occur until fourteen (14) calendar days after the payment of the previous loan.
   
   
4. Applicant must not have any outstanding financial obligations to the College such as a Mumma Loan or a Delayed Payment Plan.
   
   
5. The Emergency Loan Fund process will be completed within a maximum of two (2) working days.
   
   
6. Loans are not available between academic quarters.
   
   
7. Loan repayment conditions must be met by the recipient within the 30-day time frame.
   
   
   1. Failure to repay the loan within 30 calendar days will forfeit applicant's right to receive another Emergency Student Loan for one academic year.
      
      
   2. A hold will be placed on the applicant's file until the loan is repaid. Applicant will not be allowed to register for upcoming classes, receive grades at the end of the quarter or request the release of any school records such as transcripts, financial aid papers, etc., until the loan has been repaid.
      
      
   3. Any refund(s) to which the applicant is entitled (i.e. Pell, OIG, SEOG and Student Loan) will be used to settle any outstanding balance.
      
      
   4. After the 30-day repayment period has passed and the account is in arrears, the account will be turned over to Clark State's collection agency.