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Money Management

Allan Saxe NT Green Loan FAQ

We've listed answers to the most commonly asked Green Loan program related questions below.

What is an Allan Saxe NT Green Loan?

A Green Loan is a needs-based $50 cash loan to help eligible students address unanticipated expenses. A one-time processing fee of $3.00 is applied to the loan. Only Denton-campus students are eligible to apply for this loan program.

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What is a promissory note?

A promissory note is a legal, binding contract detailing the terms and the responsibilities of the borrower (the student) to the lender (University of North Texas). The terms of a promissory note normally include the amount borrowed, the interest rate, and the loan repayment date. The promissory note will also detail the terms, conditions, and any applicable penalties should the borrower not repay the loan within the stated terms of the promissory note.

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What is the maximum or minimum amount I can request for a loan?

The loan amount is set at $50.

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Who is eligible to apply for a loan?

Denton campus students only who meet the eligibility requirements.

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What can I use a loan for?

A Green Loan can be used to address any unanticipated expense.

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How do I apply for a loan?

Eligible UNT-Denton campus students can apply for a Green Loan in the Student Money Management Center, Chestnut Hall, Suite 313, Monday - Friday, 9:00 a.m. - 4:00 p.m.

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How can I expedite the loan process?

You can check to see if you meet all of the eligibility requirements before applying for a loan.

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How can I check on the status of my loan application?

After applying for a loan at the Student Money Management Center you will be immediately approved or denied.

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If approved, how will I receive the loan?

You will receive cash-in-hand.

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What if my Green Loan application is denied?

You can discuss the denial of your application with the loan officer.

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What do I do if I have a block on my account?

Blocks on your account originate from one of many University of North Texas offices. You can determine the source of your block by logging into MyUNT and viewing the details of your block. To clear a block can visit the Student Accounting Office in Room 105 of the Eagle Student Services Center for assistance.

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Is there a processing charge assessed to a Green Loan?

A one-time $3 processing fee is assessed to each loan. For example, for an approved $50 loan, the processing fee is $3. You are responsible for repaying $53 in cash by the due date stated on your promissory note.

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How do I repay a Green Loan?

You must repay your Green Loan and fee in exact cash by the due date as stated in your promissory note. Repayment is accepted in the Student Money Management Center, Chestnut Hall, Suite 313, 9:00am–4:00pm Monday through Friday.

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When do I have to repay a Green Loan?

You must repay your Green Loan within 10 business days after receiving the loan. The loan's due date will be stated in your promissory note.

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When would I have to repay my Green Loan if I graduate before the repayment date stated on the promissory note?

If a student graduates from or leaves the university prior to the repayment date, the principal amount plus applicable processing fee will become due and payable immediately.

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What is the difference between "late" and "default"?

An account reaches late status when the loan is one (1) day past the repayment due date stated in the promissory note.

An account reaches default status when the loan is twenty-one (21) days past the repayment due date stated in the promissory note.

Penalty fees will be assessed to loans in late and default status.

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What is the penalty for late repayment for a loan?

Loans in late status will be assessed an additional $10 penalty fee.

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What happens if I default on a Green Loan?

An account will be considered in default on the 21st day past the due date as stated in the promissory note. Upon reaching default status a $10 default penalty is applied to the account and a $10 late fee is assessed with each subsequent billing cycle. The account will be forwarded to a collection agency by the university.

A student who defaults on a Green Loan is ineligible to apply for any of the SMMC loan programs for the next twelve months.

In addition, if a student reaches default status an academic block will appear on his/her student account. At this time the account is considered "frozen" and the student can be withdrawn from classes or have pre-registered classes dropped. The student will be responsible for repaying the account in full and to the satisfaction of the Student Accounting Office. Repayment of a default account will need to be arranged through the Student Accounting office, located in the Eagle Student Services Center, Room 105 or the assigned collection agency. After repayment of a default account is completed the university may require the student to be on a cash-only basis for the remainder of his/her college career.

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Can I repay a loan in multiple payments?

No. Green Loans must be repaid in full (loan amount and $3 processing fee) with cash.

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Can I repay a loan by check?

No. Green Loans must be repaid with exact cash.

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Who is responsible for repaying my loan?

Repayment of a loan and processing fee is a student's responsibility.

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How many Green Loans can I receive?

You may receive up to two (2) loans per semester.

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Can I still apply for a Green Loan if I'm receiving financial aid?

Yes.

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Can I still apply for a Green Loan if I am a Dallas-campus student?

No. The Green Loan program is only available to UNT-Denton campus students.

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Where can I get other financial assistance if I don't qualify for the loan?

UNT's Financial Aid & Scholarships lists alternative financial resources you may find of interest including scholarships, grants, and alternative loans.

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What other services does the Student Money Management Center offer?

In addition to the Memorial and Green Loan Programs, the Student Money Management Center provides personal consultations, workshops, seminars, clinics, and online resources. A portion of your student services fee allows us to provide these services at no additional charge to you. Visit www.unt.edu/moneymanagement for more information.

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What is the Student Code of Conduct?

The university attempts to provide for all students a campus environment that is conducive to academic endeavor and social and individual growth. To that end, rules, regulations and guidelines governing student behavior and the student's relationship with the university have been formulated into a student code of conduct and discipline. Enrollment at the University of North Texas is considered implicit acceptance of these and other policies applicable to students, all of which are educational in nature and designed to help students understand expectations and accept responsibility for their own actions.

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Where do I get a copy of the Student Code of Conduct?

The university's Student Code of Conduct can be downloaded from the Center for Student Rights and Responsibilities' (CSRR) website: http://conduct.unt.edu/student_conduct.

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How is the Green Loan Program associated with the Student Code of Conduct?

Failure to fulfill financial obligation(s) to the University is considered an act of dishonesty and a category of misconduct in the Code. As such, any student whose Green Loan goes into default status (failure to fulfill the financial obligation of repayment) will be sent to the Center for Student Rights and Responsibilities for disciplinary review.

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If I'm late just a few days repaying my loan back will I be sent to CSSR for a disciplinary review?

No. Students will only be sent to the Center for Student Rights and Responsibilities for disciplinary review if they default on their loan repayment obligation. Repayment during the loan's late period does not result in a CSRR referral; however, due to repaying the loan late the student will be penalized with a 12-month application restriction to all SMMC loan programs per the program's terms and conditions.

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What are the possible outcomes for the disciplinary review?

Any student found to have engaged in conduct in violation of the Student Code of Conduct may be subject to one or more sanctions including but not limited to: Warning, Educational Sanction, Loss of Privileges, Conduct Probation, Suspension, Expulsion, and University Withdrawal. Repeated misconduct may result in assignment of more serious sanctions, including but not limited to suspension or expulsion.

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