The Graduate School at Michigan Tech is dedicated to helping all students achieve their educational goals regardless of financial circumstances. With this in mind, the Graduate School, the Alumni Board of Directors, and the Graduate Student Government established the Graduate School Emergency Loan Program (GSELP) to financially assist graduate students with emergencies or financial hardships outside of their control.
Graduate School Emergency Loan Program
Graduate students who experience emergencies or financial hardships outside of their control can apply for small, short-term, non-interest University loans. Emergency loans are currently limited to a maximum of $500.
Who Qualifies?
In the semester the student is seeking financial assistance, the following eligibility conditions apply:
- Must be enrolled in at least one graduate credit hour
- Must be in good academic and conduct standing
- Must not have an outstanding unpaid balance on a previous GSELP loan
Qualifying Reasons
Students who are experiencing emergencies or unexpected financial hardships may request financial assistance from the GSELP. Examples of emergencies or hardships could include but are not limited to:
- Family reasons
- Academic reasons (books and fees)
- Medical emergencies
- Accidents
- Emergency travel
Loan Amounts and Frequency
Loans can range from a minimum of $250 to a maximum of $500 with the amount determined by the student. Qualifying students can request one Emergency loan per academic year.
Repayment
Emergency loans are required to be repaid within one calendar year from the receipt of the funds or before the end of the student’s last semester. If students do not repay the emergency loan within these time frames, they may receive registration or transcript holds on their accounts.
How to Apply
Students may request emergency loans by filling out an application. Requests will be reviewed by a committee composed of members of the Graduate School, Graduate Student Government, Alumni Board of Directors, and Student Financial Services Center. All discussions and decisions of this committee will be strictly confidential and selection decisions will be made within approximately seven business days from the receipt of the request.