We understand there are times when you may need help covering college expenses, particularly at the start of the semester. Two options available to you, depending on your circumstances: an aid advance or an Ebsary loan.
An aid advance is an advance on anticipated financial aid. In other words, if you are expecting a credit balance on your account when your financial aid comes in and all expenses are covered, we may be able to provide an advance on that credit to help you cover some expenses.
To apply for an advance, apply directly through Homerconnect and select the Request Refund from Student Account option. You may request an advance beginning ten days prior to the start of the semester. You may choose to direct deposit the refund or have a check mailed to a local or permanent address.
The maximum amount you may request depends on the anticipated credit you will receive, but cannot exceed $2000. You can receive up to two aid advances every 60 days in a semester.
No advance will be approved until you have resources to cover your bill (anticipated monthly tuition plan payments are not considered).
If you receive an advance and the College for any reason does not receive a source of financial aid, it is your responsibility to pay to the College any balance due.
An Ebsary loan is an interest free loan granted for unusual emergencies (a credit card payment due, for instance, would not qualify).
To qualify for an Ebsary loan, you should not have received an Ebsary loan that semester.
Ebsary loans are not dependent on anticipated aid showing on your account and must be repaid by a designated due date.