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We’ve listed answers to the most commonly asked Green Loan program related questions below. Thank you!
What is a NT Green Loan?
What is a promissory note?
What is the maximum or minimum amount I can request for a NT Green Loan?
Who is eligible to apply for a NT Green Loan?
What can I use a NT Green Loan for?
How do I apply for a NT Green Loan?
How can I expedite the loan process?
How can I check on the status of my NT Green Loan application?
If approved, how will I receive a NT Green Loan?
What if my NT Green Loan application has been denied?
What do I do if I have a block on my account?
Is there a charge to receive for a NT Green Loan?
How long do I have to repay a NT Green Loan?
What is the difference between “late” and “default”?
What is the penalty for late repayment for a NT Green Loan?
What happens if I default on a NT Green Loan?
Can I repay a NT Green Loan in multiple payments?
How do I repay a NT Green Loan?
Can I repay a NT Green Loan by check?
Who is responsible for repaying my loan?
How many NT Green Loans can I receive?
Can I still apply for a NT Green Loan if I’m receiving financial aid?
Can I still apply for a NT Green Loan if I attend the Dallas Campus?
Where can I get other financial assistance if I don’t qualify for the NT Green Loan?
What other services does the Student Money Management Center offer?
What is a Allan Saxe NT Green Loan?
An Green Loan is a 10-day, cash loan disbursed in increments of $20.00 with a maximum amount of $100.00 to address unanticipated, emergency expenses. Only Denton campus students are eligible to apply for this loan program. A one-time processing fee of $3.00 is applied to each loan. Repayment of a loan and processing fee is the responsibility of the student and will be required by the student to repay within 10 business days from the loan disbursement date. Students are limited to 2 loans per semester.
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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?
You can request a minimum of $20.00, and a maximum of $100.00.
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Who is eligible to apply for a loan?
Denton campus students only.
Loan applicants must meet the following criteria to apply for a NT Green Loan:
- Must be a minimum of 18 years of age
- Must be a Denton campus student
- Must be clear of all blocks on their university account
- Must be enrolled in the current semester
- Must be in good standing with the loan programs
- Must show the ability to repay the loan and processing fee
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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?
You must apply for an 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 have any blocks on your MyUNT account. You will not be able to apply for an Allan Saxe NT Green Loan if you have any blocks on your account.
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How can I check on the status of my loan application?
After applying for the 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 at the Student Money Management Center, Chestnut Hall, Suite 313.
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What if my loan application has been denied?
You can discuss the denial of your application with the Student Money Management Center’s 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 you will need to go to the Student Accounting Office in Room 105 of the Eagle Student Services Center for assistance.
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Is there a charge to receive for a Loan?
A one-time $3.00 processing fee is assessed to each loan. For example, if your loan is approved for $100 dollars, the processing fee is $3.00. You are responsible for repaying $103.00 by the due date stated on your promissory note.
Additional penalty fees of up to $20 will apply if you have not repaid your loan by the due date stated in your signed promissory note.
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How long do I have to repay the loan?
You must repay your Green Loan the 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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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 his/her 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 NT 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.
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 with cash.
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How do I repay a loan?
You must repay your loan at the Student Money Management Center, Chestnut Hall, Suite 313.
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Can I repay a loan by check?
No. Green Loans must be repaid with 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 loans can I receive?
You may receive up to two (2) loans per semester.
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Can I still apply for a loan if I’m receiving financial aid?
Yes.
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Can I still apply for a loan if I attend the Dallas Campus?
No. Unfortunately, the Green Loan program is only available to students attending the Denton Campus.
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Where can I get other financial assistance if I don’t qualify for the loan?
You can visit UNT Financial Aid & Scholarships page for alternative lender information:
http://essc.unt.edu/finaid/loans_alternative.htm
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What other services does the Student Money Management Center offer?
In addition to emergency loan services, the Student Money Management Center provides online resources, money management workshops, and personal consultation services to students. A portion of your student services fee allows us to provide these services at no additional charge to you.
At the Student Money Management Center, you can:
- Talk to trained professionals about your personal finances
- Learn how to establish and manage credit
- Create a financial survival plan for college
- Understand your credit report and credit score
- Plan for tuition and fee payments
- Research housing options
- Planning for expenses during or after college
- Compare future employer benefits packages
- Graduate with a plan for repaying your debt
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