Self-Service Short-Term Loans are zero-interest loans available to enrolled students during the fall, winter, spring, and summer sessions. Loans are due at the end of the session in which they are received.

Available loan amounts are $200, $350, or $500. The maximum loan amount is $500 per session.

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 your U-Bill and excess funds will be refunded by direct deposit or check
    • If you don't have direct deposit set up, you can do so in MyUI
  • A loan not paid by the due date (defaulted) will incur ten percent annual interest on the unpaid balance 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

    • You are not registered for the current term
    • You have a previous unpaid or defaulted institutional loan
    • You recently paid a past-due U-Bill with a personal check (you must wait five business days for the check to clear before applying for a Self-Service Short-Term Loan)