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EIU Office of Financial Aid and Scholarships

EIU Short Term Loans

Short Term Loans (or "emergency" loans) are available to currently enrolled students through the Office of Financial Aid and Scholarships. The purpose of Short Term Loans is for school-related emergencies and expenses.


Please read all terms and conditions below before applying. Apply for Short Term Loans online here. (Note: If you are applyling from off campus, you must first connect at  Please contact the Help Desk at 217-581-4357 for login help if you experience any issues.)

Application & Processing Information

  • Applications will be processed on Mondays and Thursdays with exception to holiday weeks. During the summer term, short term loan applications will only be processed on Mondays. If your application is received before noon, your check will be available for pickup in our office after 2:00 P.M. the following day. If your application is received after noon, it will not be processed until the following Short Term Loan day.
  • Short Term Loans WILL NOT BE ACCEPTED/PROCESSED when school is not in session ~OR~ during the first two weeks of each semester and the week of finals.
  • When you apply online, do not leave any item blank. Once you submit your application, you may view the progress (received, approved, denied, ready for pickup). You may view your loan history, payment history, etc., at this same site.
  • You will receive an e-mail to your Panthermail account when your check is ready for pickup. Remember to bring your original, signed Promissory Note and a photo ID to receive your check. If using a co-signer, a copy of their photo ID is required along with their original signature on the Promissory Note.
  • Direct deposit is not available.  Paper checks are issued upon receipt of the promissory note.
  • If an interview is required, students will be notified via Panthermail. For example, a loan interview may be required due to prior late repayment of Short Term Loan(s).

Cosigner Information

  • All Short Term Loans exceeding $200 require a co-signer. Co-signers must be employed and CANNOT be an EIU student or EIU employee.
  • Co-signer does not need to be present to receive check. The Promissory Note will be emailed to them, they must sign it and return the ORIGINAL to us along with a copy of their photo ID. If mailing the Promissory Note, UPS and FedEx are two options to expedite receipt of your Short Term Loan check.

Active Loans & Repayment Information

  • Active loans must be repaid before another application will be processed. Limitations will be considered.
  • Loans may not be approved if the student has received a financial aid refund in the past 60 days.
  • Payments must be made, in person or by mail, to the Student Accounts Office. You must specify that the payment is for your Short Term Loan.
  • If a Loan is not paid within 90 days, a hold will be placed on your account. It is the student's responsibility to remember the due date. If the due date falls on a holiday or weekend, payment is expected the business day prior. A due date may be placed earlier than 90 days due to the expected graduation date.
  • If the student is anticipating a financial aid refund, Student Accounts will apply payment to the Short Term Loan BEFORE issuing the refund. It is the student's responsibility to ensure that the total payment was received by the due date.

Request Limitations

First semester at EIU $100 ----
Freshman $200 $300
Sophomore $200 $500
Junior $200 $700
Senior $200 $900
Graduate $200 $1000

*Additional criteria and limitations such as GPA, cumulative hours, enrolled hours, Grade Class, etc. may apply for some Short Term Emergency Loan Funds.

Related Pages

Contact Information

Office of Financial Aid & Scholarships

Student Services Building East Wing
600 Lincoln Avenue
Charleston, IL 61920
(217) 581-6405
Fax: (217) 581-6422

Office Hours

9 a.m. – 4:30 p.m. M-F

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