If you owe a past balance to the institution that is preventing you from registering for current/future terms or is preventing you from receiving copies of your transcripts a Retroactive Alternative Loan may be something to consider. Some lenders allow loans to be certified up-to 365 calendar days from the last day of enrollment in order to pay past-due balances. To qualify for retroactive loans borrowers must meet all the following criteria:
- Have completed at least half-time hours in current grade level courses during the term for which the loan request is submitted.
- Have a past-due balance with the university originating from the term for which the loan request is submitted.
- Meet general loan requirements as established by specific lenders.
If a retroactive loan may be something you are considering, our Preferred Lender List is a great place to start researching your options! This list, as well as other useful information, can be found on the Financial Aid page HERE.
Keep in mind that we will only be able to certify loan requests if a student meets the eligibility criteria listed above. Additionally, loan funds can only be certified for the amount owed to the institution for the term in question. We will not certify requests greater than what is owed, with the intent of receiving refund monies for other living expenses.