Bailey Loan Program

Please Note: The Summer 2014 Bailey Loan Program is closed for the remainder of the summer. Fall 2014 loan programs will open on August 18, 2014.

Eligibility for Fall 2014 will require fall semester enrollment and a minimum 2.5 cumulative UNT GPA (exception for incoming freshmen and transfer students). Students may not have past due or prior semester balances, and have no financial blocks on their accounts. Fall Memorial Loans are set at a maximum of $500.

This is a closed application system. Students must contact the center at 940.369.7761 to discuss a potential application with the loan team to be granted an override to gain access to the online application system.

A Bailey Loan is a short-term, needs based loan that enables Denton-campus students to remain enrolled. Loan amounts vary reflecting the needs-based assistance requested by each applicant. Only Denton campus students are eligible to apply for a loan.

The maximum level of support a student may apply for is $1,000 during the Fall and Spring Semesters; $500 is the maximum level for Summer semesters. A $45 origination fee is applied to the loan. Repayment of a loan and fee is the responsibility of the student and is required by the student to repay as defined by the terms stated in the promissory note. Application and loan processing dates vary with each semester. Students can only apply for one Bailey Loan per academic year. Students become ineligible to apply to any other SMMC loan program for the remainder of the academic year with the acceptance of a Bailey Loan.

Accounts will be considered late one (1) day past the repayment date stated in the signed promissory note and assessed a $25 penalty charge. An account will be considered default and assessed an additional $25 penalty charge thirty-one (31) days past the repayment date as stated in the signed promissory note.

Eligibility Requirements

  • Must be at least 18 years of age
  • Must be a UNT Denton campus student
  • Must be enrolled in the current semester
  • Must have a 2.5 cumulative GPA*
  • Must show the ability to repay the loan and processing fee by the scheduled repayment date

*Special exception granted to first-semester students.

Terms and Conditions

  • $1,000 is the maximum level of support for a loan in Fall and Spring semesters; $500 is the maximum level in Summer semesters
  • Students are only eligible for one (1) Bailey Loan each academic year; once a Bailey Loan is disbursed, students will not be eligible for any additional Student Money Management Center loans for the remainder of the academic year
  • A Bailey Loan cannot be used for parking fees, citations, or library fines
  • Additional categories of expenses that may be eligible for a Bailey Loan are at the discretion of the loan program staff
  • A signed promissory note is required to be on file before disbursement of loan can be processed
  • 5 to 7 business days are required to process a loan from receipt of a signed promissory note
  • Accounts in late status (one day past the due date) will be assessed an additional $25 penalty charge
  • Should a loan become late the applicant is ineligible to apply to any of the SMMC loan programs for twelve months following repayment
  • Accounts in default status (thirty-one days past the due date) will be sent to a collections agency and assessed an additional $25 penalty charge; the student's credit will be negatively impacted by these actions
  • Transcript and registration blocks will be applied to default accounts
  • Students may apply for one (1) loan per academic year
  • Student becomes ineligible to apply to any other SMMC loan program for the remainder of the academic year with the acceptance of a Bailey Loan

Repayment Deadline

  • Summer 2014 - August 4, 2014
  • Fall 2014 - November 3, 2014

FAQs

We've listed answers to the most commonly asked Bailey Legacy Loan program related questions here.

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