Student Short-Term Loans are zero-interest loans available to students during the fall, winter, spring, and summer sessions. Loans are due at the end of the session in which they are received. You must be enrolled for the session in which you are applying for the loan.

Available loan amounts are $200, $350, or $500. The maximum loan amount is $500 per session. The loan funds will be credited to the your University account and will be applied to any unpaid charges. If this creates a credit on your account (the current charges are less than the loan amount requested), you may request a refund for the excess funds. To request a refund, mark the appropriate box on the application.

Applications are available in 2400 University Capitol Centre when the building is open (7:00 a.m. until 4:30 p.m., Monday through Friday).

Terms of the Loan

  • No co-signer is required
  • No interest will accrue if the loan is repaid on time
  • The loan funds will be applied directly to the student's University account as a payment and will be applied to any unpaid charges
  • A loan in default will draw ten percent annual interest on the unpaid principal and interest until the loan is paid in full

Repayment and Due Dates

You will be billed for the loan repayment by Educational Computer Systems, Inc. (ECSI), a company partnered with the University of Iowa to collect loan payments. ECSI bills are issued the first day of the month and are usually due on the 22nd of the month; however, check your ECSI bill to verify the due date.

  • A loan taken out during the Summer sessions will be billed on an August ECSI bill.
      • If the loan is taken out after July 15, the loan will be billed on a September ECSI bill.
         
    • A loan taken out during the Fall semester will be billed on a November ECSI bill.
      • If the loan is taken out after October 15, the loan will be billed on a December ESCI bill.
      • If the loan is taken out after December 1, the loan will be billed on a January ECSI bill.
         
    • A loan taken out during the Winter session will be billed on a February ECSI bill.
      • If the loan is taken out after January 15, the loan will be billed on a March ECSI bill.
    • A loan taken out during the Spring semester will be billed on an April ECSI bill.
      • If the loan is taken out after March 15, the loan will be billed on a May ECSI bill.
      • If the loan is taken out after April 15, the loan will be billed on a June ECSI bill.

    Possible Reasons for Loan Disapproval

    • Application is incomplete or illegible
    • You are not registered for the current term
    • You have a previous unpaid Student Short-Term Loan
    • You are in loan default or owes a refund to the University
    • You recently paid a past-due University bill with a personal check (you must wait five business days for the check to clear before applying for a Student Short-Term Loan)