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5.01.004 - Tuition Loan Program

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Approved: 9/17/2013
Approved By: Board of Trustees
Section: 01 - FINANCE

It is the general policy of the Board of Trustees that tuition and applicable fee payments are due in full at the time of registration.  However, the Board realizes that in some cases students may require temporary financial assistance in order to complete their enrollment.

Therefore, the Board directs the President to develop procedures for implementation of a short-term tuition loan program.  The procedures to be developed are to ensure that there is access to the loan program for students with loan-justifiable circumstances and that there is a process for loan application, review, and approval.  An appropriate loan origination fee shall be charged in lieu of interest charges, and the procedures shall include penalties appropriate for nonpayment.  The financial impact of this policy is to be evaluated annually with results reported to the Board.