Emergency loans help out needy
Campus Times
October 31, 1997
For some time, the University of La Verne's Office of Student Affairs
has utilized an emergency loan program to assist ULV full-time undergraduates
financially.
Apart from the traditional Stafford Loan, ULV Loan or outside financial
loans, the emergency loan program is utilized to provide funds for students
who have unexpected financial problems.
"The purpose is because we understand that students may encounter
last-minute financial needs. For example, sometimes loan checks don't come
in on time, and students need that little bit to get by until the loan check
comes through," said Dr. Loretta Rahmani, dean of student affairs.
In order to receive an emergency loan, a student must fulfill several
requirements.
First, a student must be enrolled full time at the University's central
campus.
Part-time undergraduates and graduate students may also be considered
for the loan, depending on the total amount of funds available at the time.
However, because full-time undergraduates are the primary recipients of
this service, the needs of any part-time students or graduates will be considered
after those of full-time students are met.
The emergency loan program also allows qualifying students to borrow
up to $75 per loan received.
This money can be used for unexpected or last-minute expenses such as
to buy books, to purchase a meal ticket, to cover the cost of a physical
exam or to compensate for other purposes.
"Sometimes I'm short on money for bills, so I go and take a loan
out to pay the monthly dues," said sophomore Fabiola Ochoa.
Each loan is made available to students as prior users of the fund pay
off their loans. Therefore, students who borrow funds are asked to request
a lower loan amount if the maximum loan amount is not necessary.
In addition, students are required to pay back the loan upon receiving
the next paycheck, or within 30 days.
Throughout the school year, a student may borrow a total of three emergency
loans, but the required limit per student is two loans per semester.
If a previous loan has not been paid back, an additional loan may not
be borrowed until the previous loan is repaid in full. If a student fails
to pay back the loan within the designated time, an additional $15 is added
to the repayment amount.
Though the guidelines to qualify for a loan are simple, the process
to receive the borrowed amount is easier.
Initially, a student must go to the Student Resource Center and ask
for a loan application.
The loan application can be completed within several minutes, and is
then taken to Dr. Rahmani to be approved. If Dr. Rahmani is not available,
Shelley Larsen, administrative secretary, may also approve the loan.
In regards to loan approval, Dr. Rahmani said that, to her knowledge,
"there have not been any instances in which a student is denied for
a loan."
Continuing the application process, a student is then directed to Woody
Hall's Student Accounts Department, where Judy Politte, accounting clerk,
takes the last step.
After reviewing the student's application, Politte requires that the
student complete a loan contract. At this point, Politte processes the loan
check for the amount requested.
In a total of about 10-15 minutes, a student receives funds for his
or her last-minute needs.
Said Dr. Rahmani, "The process is quick, but it also depends on
a student's own actions. Generally, the program is a good service to students
to help [them] in time of need."
