A repayable Emergency Loan from University funds may be able to help you when you cannot get financial help from any other source.
What is an Emergency Loan?
A repayable Emergency Loan from University funds may be able to help you when you cannot get financial help from any other source. Emergency Loans are normally only given to cover basic food costs and will not usually be given to cover bills, rent or general cash flow problems.
Emergency Loans are not a solution to cash flow problems and in most instances a minimum amount only will be issued to cover food costs.
Who is eligible to apply for an Emergency Loan?
You are unlikely to be issued an Emergency Loan unless the following criteria apply to you:
· You are up to your overdraft limit.
· You have asked the bank for an extension of your overdraft limit and been refused.
· You have exhausted all other sources of financial help e.g your parents.
· If you have previously taken an Emergency Loan, you repaid it on time.
· You must be a full-time student or if part-time pursuing at least 50% of a full time course.
· You must be fully registered on your course.
Emergency Loans can only be issued in exceptional circumstances to:
· Students on a leave of absence,
· Postgraduates who are writing up,
· Students subject to exclusion warnings
· Those who have not repaid a previous Emergency Loan on time
How can I apply for an Emergency Loan?
To enquire about an Emergency Loan, call into the Advice and Guidance Service at the Student Support Centre in either the Cathays Park or Heath Park site. You need to bring an up-to-date bank statement or cashpoint statement showing your balance. You will be interviewed by an adviser who will discuss your emergency situation, help you look for alternative sources of funding to ensure you are accessing everything you are entitled to, and look at budgeting with you.
- You must bring a bank statement or bank balance showing your up-to-date balance.
The adviser will assess your eligibility for an Emergency Loan during the interview. Please be prepared to show the means you have taken to try to secure alternative funding. If you do qualify for an Emergency Loan the cash can be released immediately. You will need to collect the money from the Cash Office at 30-36 Newport Road, so please leave time for this. The Cash Office closes at 4pm daily.
When do I repay my Emergency Loan?
You will agree a repayment date with the adviser who interviews you. A repayment date will be set in line with the arrival of your next funding, and will be expected to be within a few weeks. You can pay in instalments as long as the loan is cleared by the agreed repayment date. You need to repay via the Cash Office at 30-36 Newport Road. You can either go to the Cash Office in person, pay over the phone (029 2087 9262) or pay using Sims online: https://sims.cf.ac.uk/
Sometimes a repayment date can be set in line with a payment from the Financial Contingency Fund. Please note that it is your responsibility to check that the loan has been repaid, and make a payment yourself in the case of any problems. We will send you a text message to remind you when your Emergency Loan is due.
What happens if I do not repay my Emergency Loan?
If for any reason you think that you will be unable to repay your Emergency Loan by the agreed repayment date, it is very important that you contact an adviser at the Advice and Guidance Service immediately.
· Emergency Loans which are unpaid by the repayment date will be pursued by the University Finance Office, who will contact you and may pass your debt on to external debt collectors.
· Emergency Loans which are unpaid or repaid late will affect your eligibility to any future Emergency Loan which you might need. We may have to refuse your future Emergency Loan application, and we would only be able to issue a further loan in exceptional circumstances.