Why apply for a short term loan?
Royal Holloway can provide short term interest free loans of up to £500 to students for a variety of reasons including
- in emergency financial situations
- to assist with cash flow problems caused by funding delays
- other reasonable requests where a loan would be suitable
Please note that short-term loans can take up to 5 working days to be paid to your bank account. If you require more immediate support then please contact the Financial Wellbeing Team.
How and when to repay the loan?
The loan can repaid on an agreed upon date in line with the circumstances for which the loan was initially granted. For example, if the loan was given as a a result of a funding delay, we are likely to ask you to repay the full amount when your funding becomes available.
For students applying due to an emergency financial situation, we may use the loan as a short term support measure while we assess you for an award as part of the Student Support Grant. In these instances, we are likely to use any award from the Study Support Grant to clear the loan.
Eligbility and terms and conditions of the loan
Please note the following carefully before apply for a short-term loan
- Failure to repay the loan on the agreed repayment date will render you (the student) a debtor under the terms of the University's regulations
- You must have no outstanding college debts in order to be eligible for the loan
- Submission of an application for a short-term loan does not guarantee payment. The Financial Wellbeing team reserve the right to request supporting information/documentation in order to process your application
- Funds can take up to 5 working days to be credited to your bank account
- An email will be sent to you confirming the date the loan will be paid and the agreed repayment date
- Students must ensure that their bank details are up to date on Campus Connect
How to apply?
- Please read all the information above before submitting your application
- Complete the Loan Application Form