Short-Term Loans

The Short-term Loan Program is funded by the Texas A&M University Association of Former Students, the Texas A&M University Class of 1926, University departments, as well as colleges and friends of Texas A&M University.

Short-term loan funds help students who experience temporary financial difficulty related to educational or educationally related expenses other than tuition and required fees.

→ Use short-term loans to pay for school-related expenses when you have money from home, a paycheck, or other sources, but it won't arrive in time to pay your tuition bill or buy books.
→ Interest rates are usually lower than commercial loans.
→ Remember, these loans are for relatively short periods, one to twelve months, and must be repaid in full on the due date.

Short-term loans are available to assist students who experience financial difficulty. Short-term loans cannot be used to pay tuition and required fees, but can be used for optional fees and these other expenses. The application for Short-term loans is available online at sfaid.tamu.edu/stlapp.

Eligibility

Interest Rate and Processing

Right to Cancel

According to the Truth in Lending Act (TILA) of 2009, Scholarships & Financial Aid must account for a three day disclosure period. Therefore, after the signed promissory note and self-certification forms are submitted, three business days must pass before funds are released to your student account. This will create a delay in your ability to receive short-term loan funds.

Please plan accordingly, knowing that Short-term Loan funds cannot be released for three business days after you have submitted a signed promissory note and self-certification form.

Repayment

This loan must be repaid (with interest) within the repayment period set for your loan. You may request the length of your repayment period on the loan application, as the repayment period can be anywhere between one and twelve months long. However, the financial aid advisor will determine if you are eligible for that repayment period based on the loan amount approved and your classification.

If the loan is not paid in full by the due date, registration will be blocked until the loan is paid in full. Past due loans are subject to collection fees, attorney fees, higher interest rates, as well as negative credit reports to national credit bureaus.

Information on where to repay your loan will be included on your promissory note.

If you have direct deposit (ACH) set up before applying for a Short-term loan it will take 3-5 business days from the end of the Right to Cancel period for your money to be deposited to your bank account. You may authorize direct deposit of short-term loan funds and financial aid refunds through the Howdy Portal via the My Finances tab. You may contact the Aggie One Stop for questions about your short-term loan repayment.

For more information, review the Short-Term Loans FAQs below and the repaying your student loans page.

Short-Term Loans FAQ

How do I apply for a Short-Term Loan?

The application for Short-Term Loans is available online at sfaid.tamu.edu/stlapp.

Note: Once approved, students receive instructions via their official Texas A&M University email address to sign a promissory note and self-certification form before funds release. Eligible students can use Adobe Sign for identity authentication to electronically sign the promissory note. Students who are not eligible to authenticate using an electronic signature receive instructions on completing the promissory note and self-certification with a wet signature (Pen to paper) via email.

Can I pay my tuition and fees with a Short-Term Loan?

What is the interest rate on my Short-Term Loan?

How long is the repayment period for a Short-Term Loan?

What is the penalty for default on my Short-Term Loan?

What are the eligibility requirements for my Short-Term Loan due date?

Can I get an extension on my Short-Term Loan?

Will my financial aid refund automatically pay off my Short-Term Loan?

No, your financial aid refund will not pay your Short-Term Loan balance. It is your responsibility to make payments to Student Business Services. You can pay online at myaggieloans.tamu.edu or through the Howdy Portal at howdy.tamu.edu. If you go to the Howdy portal, click on the My Finances tab, and at the bottom in the Institutional Loans section, click on Pay/View MyAggieLoans.

Do I have to come in and sign a Promissory Note every time I request a Short-Term Loan?

You must sign a new Promissory Note and self-certification form each time you borrow via Adobe Sign if eligible, or via email. All short-term loans have a required three-business day right to cancel period before funds pay to your student bill. Requests for Short-Term Loans vary in amounts and length of repayment. Each Short-Term Loan requires a new promissory note and self-certification form for every loan requested.

How much money can I borrow through a Short-Term Loan?

How quickly can I receive my Short-Term Loan?

The Short-Term Loans review process happens within 1-2 business days. Once approved, you will need to sign your Promissory Note and self-certification form electronically through Adobe Sign, or sign and email the completed forms to stl@tamu.edu. After the promissory note and self-certification form signatures, your loan will enter a three-business day Right to Cancel period. After the three business days, your loan pays to your student billing account. If the loan is for something other than optional fees, funds refund to you within 2-3 business days after it pays to your billing account. Please make sure you have your direct deposit set up to receive any refunds from the university.

Short-Term Loan Acceptable Expenses

Acceptable Expenses

Books and Supplies Loan – This loan can be used for books and supplies. You must be enrolled in courses at Texas A&M University in the current semester. Maximum loan amount is $800.00

Housing and Food Loan – This loan can be used for dorm, meal plan, off-campus rent, food, electricity, phone, and other living expenses.

Field Trips/Study Abroad Loan – This loan can be used for study abroad or field trip expenses. These expenses can be on the billing account and expenses not on the billing account. Funds are available for academically required Texas A&M University programs only. Maximum repayment period is at the end of the study abroad trip.

Aggie Ring Loan – Qualified students may borrow money to help them in purchasing a basic 10K Aggie Senior Ring. You must have completed 90 credit hours when you apply to be eligible. You may only be approved for one Aggie Ring Loan during your academic career. Visit Aggie Network website to see current ring prices.

Senior Cadet Loan – This loan is available to help buy articles for a Senior Cadet uniform. You must have completed at least 60 credit hours to be eligible for this loan. Maximum loan amount is $500.00. Maximum repayment period is six months.

Graduating Student Loan – This loan is to help with State Board and/or Graduate Record Exam (GRE) fees, Texas Bar Examination fees, and the purchase of graduation regalia or printed invitations.

Optional Fees Loan – This loan is for students who show a balance of optional fees on their billing account. (i.e., parking, residence hall rent, meal plan, sports pass)

Graduation Relocation Loan – Graduating students who are degree candidates during the current semester can use this loan. You must have applied for graduation and the diploma fee must appear on the billing account. These loans can pay out no sooner than one month prior to graduation. The maximum loan amount is $500.00. The maximum repayment period is six months. If you have already graduated, you are not eligible for this loan.

Interview Loan – You may purchase suits, plane tickets or anything related to an interview to apply for this loan. The maximum loan amount is $500.00

Emergency Medical Loan – This loan is available for expenses related to medical charges.

Co-op Loan – You must provide verification of co-op enrollment. Maximum repayment period is four months.

Car Repair Loan – This loan is used for expenses related to car repairs.

Daycare Loan – This loan is available for daycare expenses.

Computer Loan – You can use this loan to buy a computer or to help pay for computer repairs.

Car Payments and/or Insurance – This loan is to help you pay your car payments and insurance while in school.

Short-Term Loans are not approved for past due loans, credit card payments or paying someone else for money that was borrowed for any of these acceptable reasons.

Additionally, your prior institutional loan history, academic records, financial aid eligibility and Title IV debt status are reviewed before approval of all Short-Term Loans.

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