UNIVERSITY OF CONNECICUT
Center for Academic Programs
368 Fairfield Way U-4170
Storrs, CT 06269-4170
(Phone) 860.486.4040 (Fax) 860.486.4024
IRIS KINNARD EMERGENCY LOAN FUND
PURPOSE
The Iris Kinnard Emergency Loan Fund (IKELF) was established as a short term, stop gap resource to meet Student Support Services (SSS) students’ emergency financial needs that may jeopardize academic progress. First year students have priority status. Purchase of books and course materials are priority uses of the IKELF.
GUIDELINES AND ELIGIBILTY
· Eligible students must be enrolled as undergraduate students at the University of Connecticut and be participating members of the SSS Program.
· Eligible students must demonstrate a financial need for the IKELF loan.
· Eligible students must demonstrate ability to repay the IKELF loan within eight (8) weeks.
All IKELF requests will be reviewed on a first come, first served basis. Financial need will be the main determining factor in fulfilling loan requests. No interest will be charged on the IKELF loan but a $25.00 penalty will be imposed on loans not repaid by the due date. Students who have not repaid the IKELF by due date (nor have made extension arrangements) will be placed in delinquent status. Delinquent status may restrict future enrollment, access to student benefits, and ability to obtain academic transcripts from the University.
The strength of the IKELF is SSS students’ ability to access up to $300.00 quickly through the University’s Bursar’s Office. IKELF success, however, depends on the students’ repayment of the loan within eight (8) weeks, thus making IKELF funds available for ongoing and subsequent emergency needs. When necessary, a request for extension of repayment may be submitted in writing to the IKELF committee prior to the due date. Approval of extension will depend on current status of loan applications and IKELF available resources.
APPLICATION PROCESS
· SSS student meets with staff member to review IKELF guidelines.
· Student and staff member(s) complete designated application sections.
· Application is forward to IKELF committee for approval.
· Student will receive notification of loan status within two working days.
· If approved, student delivers loan application to Bursar’s Office for processing.
REPAYMENT OF IKELF LOAN
Payments on the IKELF loans are made directly to the Bursar’s Office at the University of Connecticut. Payments are made in installments or in full. Write checks to The University of Connecticut IKELF.
IKELF COMMITTEE
The IKELF committee is comprised of Center for Academic Programs staff members from the Storrs and regional campuses. The committee meets in person or by phone as applications are received. Committee members rotate annually. The IKELF committee reviews the loan application annually, makes recommendation for revisions as needed.
UNIVERSITY OF CONNECTICUT
Center for Academic Programs
368 Fairfield Way U-4170, Storrs CT 06269-4170
(Phone) 860.486.4030 (Fax) 860.486.4024
THE IRIS KINNARD EMERGENCY LOAN FUND
SHORT TERM PROMISSORY NOTE
Please type your responses or use legible handwriting, print, sign and date, and either fax or hand directly to a CAP staff member. If faxing, please use a cover sheet.
SSS Student ______
Last First M.I.
Local Address ______
______
Local Phone ______Cell #______
Home Phone ______E-mail______
Home Address ______
______
Peoplesoft # ______Semester standing______
Amount requested ______
Maximum $300.00
Briefly describe emergency ______
Source of loan repayment (financial aid, parents, job, etc) ______
______
To be completed by CAP staff
Student is currently registered for ______at the ______campus.
# credits Storrs/regional
In your opinion, does student have emergency need for IKELF? YES NO
Student has reviewed the guidelines for IKELF. YES NO
______
Signature of CAP staff Date
To be completed by IKELF Committee
IKELF Committee _____approved _____denied loan
$______(dollars and 00/100’s).
______
Signature of Committee Member Date
To be completed by student and CAP staff
I promise to repay to “The University of Connecticut Iris Kinnard Emergency Loan Fund” the amount of $______by ______.
Loan amount month/day/year
I understand that if the full amount is not repaid by, or duly extended beyond the specified date, I will be placed in delinquent status which could restrict my future enrollment, student benefits, and the ability to obtain academic transcripts from the University. Further, I agree to pay an additional late penalty charge of $25.00 (twenty five dollars) if my delinquency in repayment is reported to the Bursar’s office for collection.
______
Student’s signature Date
______Loan Number______
Signature of Program Director/ Date
Original: Bursar’s Office
CC: IKELF Committee
Student