5.52 Emergency Funds

Students in need of an emergency funds advance should contact the Office of Student Affairs. The Dean has a small fund of money to loan in cases of emergency. If students fail to repay the advance, other students are unable to borrow money from this fund, as it is replenished only be repayments. Students who are consistently late in repayment or fail to repay will be denied subsequent requests.

An amount not to exceed $50.00 may be advanced to the student. Advances are payable on or before the due date stated on the advance form (within 30 days) with no interest charged. A charge for the amount of the advance is posted to the student’s Macalester billing account upon receipt of the funds. Standard finance charges of 8% per annum and special late fees may apply in the case of delinquent payment. Until the advance is repaid, a hold may be placed on the student’s grades, transcripts, registration, etc.