To Receive a Short Term ASUM Loan:
You must be a currently registered student taking 7 or more credits with a minimum cumulative GPA of 2.0. If you are on a deferred payment plan, you must have paid the ASUM Activity Fee of $61.35.
THIS LOAN CANNOT BE USED TO PAY FOR HOLDS ON YOUR ACCOUNT NOR CAN YOU RELY ON LOANS YOU EXPECT TO RECEIVE IN A FUTURE SEMESTER TO REPAY YOUR LOAN.
You must have been a registered student the previous semester (spring OR summer if the current semester is fall) and not be graduating at the end of the current semester. (These requirements are waived for Missoula College students.)
You may receive a maximum of $1,000 between July 1 and June 30 of the current academic year and a maximum of $500 at any one time.
All loans are picked up and repaid at the Treasury office on the second floor of the Lommasson Building.
No loans are processed when classes are not in session.
Although initial approval of your loan is given by ASUM, the final determination of your eligibility is made by Business Services.
Loans up to $500 at a time are available and must be repaid within 90 days. Interest is assessed at the rate of 7% per annum until maturity (90 days); after the due date, interest is 12% per annum until the loan is repaid in full.
No co-signor is required, but you do need to provide the names and contact information for 3 references (your parents plus 2 persons, other than students, who have known you for at least 3 years and who will know where to reach you at all times.)
Fill out and submit the loan application through your Cyberbear account. If your application is properly completed and approved, your loan will be ready for pick-up at the Lommasson Treasury office within two to three days after submission. Be sure to take your photo ID.
Once approved by ASUM, contact Joneal Szwedkowicz at 406-243-5593 in Business Services to follow up on the status of your loan.