Explore short-term student loans
What is a short-term loan?
The Office of the Bursar offers short-term loans of up to $750. These loans are interest free and due in 30 days.
Before you decide to apply for a loan, make sure you explore all grants and scholarships that are available. The less you repay, the easier you’ll find life after college.
How do I know if I’m eligible for a short-term loan?
To qualify for a short-term loan, you must meet these eligibility criteria:
- Be enrolled at least half time (6 hours undergraduate or 4 hours graduate)
- Have no past due charges and no outstanding short-term loan balances
- Be in good financial standing with the university
- Have an active direct deposit account
- Sign a Title IV authorization
How much can I borrow?
You can borrow up to $750.
When do I have to start repaying my short-term loan?
You’ll have approximately 30 days from the date the loan is processed to repay it. If you fail to pay the loan balance in full by the due date, you’ll be subject to late payment fees and denied access to services such as registration.
How do I apply for a short-term loan?
To receive a short term loan between semesters, you must be enrolled for the upcoming semester and meet the other eligibility criteria.
When will I know if I’m selected?
After we review your application, we’ll send a decision to your university email address. If your loan is approved, you can expect to receive the funds within 3-5 business days.
If you have a history of late payments or returned checks, we may deny your loan request.
Short-term loan application form
IU Indianapolis
Office of Financial Aid and Scholarships
420 University Blvd
Indianapolis, IN 46202
USA