Emergency loans provide a temporary financial bridge for students who have exhausted other financial means and whose ability to be successful at Madison College is in jeopardy. These loans are secured against the student’s impending financial aid award for the current academic term.
Emergency loans may be available to assist continuing Madison College students meet small emergencies, to a maximum of $300. Loans are interest free and are generally payable by the tuition deadline for the academic term in which they are assumed. Failure to repay may result in debt collection. Outstanding loan amounts will be deducted from a student’s financial aid award prior to disbursement of any balance.
To be eligible, the student must:
- Not have any holds on student account.
- Be enrolled in a financial aid eligible Academic Program for six or more credits during the semester of application.
- Meet the application deadlines for Program Admissions and Financial Aid (July 31 for the Fall Semester and December 15 for the Spring Semester) with all required documents submitted to the appropriate offices.
- Not receive Financial Aid disbursement for the current semester.
- Provide written documentation of the emergency expenses.
- Must not demonstrate a pattern of receiving loans in the past. Students may not be awarded more than one emergency loan throughout their engagement at Madison College.
For Emergency Loans, begin the application process by meeting with a counselor to discuss specific situations and possible referrals to alternative resources. To make an appointment, call the Student Development Center at (608) 246-6076 or the Financial Aid Office at (608) 246-6170.