Howard University Emergency Student Loans
The Howard University Emergency Student Loan (Institutional
Loans) Program is designed to provide low-interest
rate loans to students who are experiencing a temporary
cash flow problem. There are various loan funds and
only two types of loans:
- Short-term Emergency Student Loan - loans that are
due by the end of the semester.
- Long-term Emergency Student Loan - loans that are
due after the loan borrower separates from the University.
Any loan borrower with this type of emergency loan
must have an Entrance and Exit Interview. No late
fees are charged. The only deferment provision is
a student deferment for borrowers who attend school
on at least a halftime basis. The loan is reported
to the (3)three major credit bureaus (upon disbursement).
This type of loan is not eligible for consolidation.
The specific term of the loans are stated in the promissory
note and are indicated in the individual fund regulations.
Federal regulations do not apply to the Emergency Student
Loan Program because the loans are Howard University
money not Federal Aid.