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Memorial Loan FAQ

At the beginning of each semester you can apply for a Memorial Loan online or by using one of the computers inside the Student Money Management Center, Chestnut Hall, Suite 313. If you need to apply for a loan when the online application window is closed you must schedule an appointment with a Student Money Management Center's Loan Officer.

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

No. Please contact the Student Affairs Office (972-780-3632) on the Dallas campus student to inquire about financial resources available to Dallas students.

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What other services does the Student Money Management Center offer?

In addition to the loan programs, the Student Money Management Center provides students with 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.

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What is a Memorial Loan?

The Memorial Loan Program was created as a last resort for students facing unanticipated or emergency-related expenses threatening their immediate enrollment. The program was not designed to serve as an alternative loan program between disbursements of financial aid refunds. The Memorial Loan Program is designed to issue one loan per student per semester, but occasionally the Student Money Management Center director can consider approving an additional loan for a student during the same semester under exceptional circumstances. Any loan request that does not follow the general guidelines of the Memorial Loan Program will be considered. See Money Management Loans for more information.

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How do I apply for a Memorial Loan?

At the beginning of each semester you can apply for a Memorial Loan online or by using one of the computers inside the Student Money Management Center, Chestnut Hall, Suite 313.

If you need to apply for a loan when the online application window is closed you must schedule an appointment with a Student Money Management Center's Loan Officer.

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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.

Note: If a student has been approved for a Memorial Loan, a signed promissory note must be on file for the disbursement process to begin. A Memorial Loan will not be disbursed without the signed promissory note.

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What is the maximum or minimum that I can request?

Apply for what you need, but keep in mind you must repay the loan and a 1% interest rate by the repayment date. Loan awards can be reduced at the discretion of the loan officers. In addition, the maximum level of support a student may apply for during the fall and spring semesters is $500, while the maximum level of support that will be considered for the summer semesters is $197.

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Is there a time when the Memorial Loan Program is closed?

Yes, there are times throughout a semester that the Memorial Loan Program is closed due to Administrative processing.

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What can I use a Memorial Loan for?

A Memorial Loan can be used to pay unanticipated expenses that are threatening your enrollment at UNT. However, a Memorial Loan cannot be used for current tuition and fees, current on campus housing, prior term balances, and study abroad program support.

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Is interest charged to a Memorial Loan?

A one-time 1% interest rate will be assessed to your loan. For example, if your loan is approved for $500 dollars, the interest is $5. You are responsible for repaying $505 by the due date as stated on your promissory note.

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What happens after I apply for a Memorial Loan?

Processing of loan applications require 5 – 7 business days during which time applications go through a comprehensive verification process to ensure an applicant meets all eligibility requirements and repayment ability is validated. The loan will either be approved or denied. Approved loans require applicant to submit a signed promissory note before the loan is released for final disbursement.

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When do I have to repay a Memorial Loan?

The repayment due date for a Memorial Loan is stated on the promissory note.

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When would I have to repay my Memorial 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 interest 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 thirty-one (31) 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 payment for a Memorial Loan?

Loans in late status will be assessed an additional $25 late penalty fee. In addition, should a loan become late (student failed to meet the repayment deadline as identified in the promissory note) the applicant is ineligible to apply for any of the SMMC loan programs for twelve months.

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What happens if I default on a Memorial Loan?

An account will be considered in default on the 31st day past the due date as stated in the promissory note. Upon reaching default status a $25 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 Memorial Loan is ineligible to apply for either a Memorial Loan or Green Loan 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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How can I check on the status of my Memorial Loan application?

Applicant will receive an automatic email notification of status of the loan request. Status updates on loans will not be provided over the phone.

In addition to receiving email notifications by the loan program, you can also login to MyUNT to check on the status of your application.

  • Login to MyUNT
  • Visit "My Account Summary"
  • Select the current semester
  • Select "View Account Detail"

Approved applicants will see the approved loan amount with "Memorial Loan Credit" below the summary posted to the account. In addition, students utilizing financial aid refund to repay a loan will see the repayment posted to the account.

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Why haven't I received any email notifications regarding my application?

The most common reason for an applicant not to receive any of our system-generated notification email messages is due to either a typo in the email address was listed on the application. If the email address is correct, then there is a possibility that the email our system sent to an applicant got filtered into their bulk/spam folder. Applicants are advised to always confirm the correct spelling of their email address on an application and to check their email system's bulk/spam/junk folder if they have not received notification on their loan application within 2–3 days after submitting an application.

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If approved, how do I receive a Memorial Loan?

After signing a promissory note, the Memorial Loan will be disbursed through your HigherOne Account.

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If I do not have a HigherOne Account set up, can I still receive a Memorial Loan?

Yes, if SAUCS confirms that you have not set up your HigherOne Account. The loan will be disbursed as an university-issued check.

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What if my Memorial Loan application is denied?

You can contact the Memorial Loan Program Office (940-369-7761).

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How do I repay a Memorial Loan?

If you are repaying your Memorial Loan with financial aid, repayment will automatically be deducted from any financial aid refund you may be receiving if the loan is posted to your account before your financial aid award is posted. If the loan is posted to your account after you have received your refund it is your responsibility to ensure loan repayment occurs by the repayment deadline stated in your signed promissory note.

If you are repaying your Memorial Loan with another source of income you must repay the loan by visiting Student Accounting, Eagle Student Services Center, Room 105.

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How many Memorial Loans can I receive?

A student may receive one (1) Memorial Loan per semester; however, under exceptional circumstances a student may be granted the opportunity to apply for one (1) additional loan per semester at the discretion and approval of the Center's director.

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Can I still apply for a Memorial Loan if I'm receiving Financial Aid?

Yes. You should check on the status of your financial aid prior to applying for a Memorial Loan as you may not have a need for a Memorial Loan. Disbursement of your financial aid may occur before the processing of your Memorial Loan application is complete.

You can check on the status of your financial aid by logging into MyUNT.

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

You can determine the source of your block by logging into MyUNT and viewing the details of your block. To clear a block you can go to the Student Accounting Office in Room 105 of the Eagle Student Services Center for assistance.

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Where can I get other financial assistance if I don't qualify for a Memorial Loan?

UNT's Student Financial Aid and Scholarship 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.

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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.

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 Memorial 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 Memorial 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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Will a Meningitis block prevent me from applying?

Yes. To clear RMR and RMN blocks go to your MyUNT account and view the details of the block. Contact the office identified in the details.

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