Allan Saxe NT Green Loan FAQ
We've listed answers to the most commonly asked Green Loan program related questions below.
- What is an Allan Saxe NT NT Green Loan?
- What is a promissory note?
- What is the maximum or minimum amount I can request for a Green Loan?
- Who is eligible to apply for a Green Loan?
- What can I use a Green Loan for?
- How do I apply for a Green Loan?
- How can I expedite the loan process?
- How can I check on the status of my Green Loan application?
- If approved, how will I receive a Green Loan?
- What if my Green Loan application is denied?
- What do I do if I have a block on my account?
- Is there a processing charge assessed to a Green Loan?
- How do I repay a Green Loan?
- When do I have to repay a Green Loan?
- What is the difference between "late" and "default"?
- What is the penalty for late repayment for a Green Loan?
- What happens if I default on a Green Loan?
- Can I repay a Green Loan in multiple payments?
- Can I repay a Green Loan by check?
- Who is responsible for repaying my loan?
- How many Green Loans can I receive?
- Can I still apply for a Green Loan if I'm receiving financial aid?
- Can I still apply for a Green Loan if I am a Dallas-campus student?
- Where can I get other financial assistance if I don't qualify for the Green Loan?
- What other services does the Student Money Management Center offer?
What is an Allan Saxe NT Green Loan?
A Green Loan is a needs-based cash loan disbursed in increments of $20.00 with a maximum amount of $100.00 to address unanticipated expenses. A one-time processing fee of $3.00 is applied to the loan. Only Denton-campus students are eligible to apply for this loan program.
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.
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.
Who is eligible to apply for a loan?
Denton campus students only who meet the eligibility requirements.
What can I use a loan for?
A Green Loan can be used to address any unanticipated expense.
How do I apply for a loan?
Eligible UNT-Denton campus students can apply for a Green Loan in the Student Money Management Center, Chestnut Hall, Suite 313, Monday - Friday, 9:00 a.m. - 4:00 p.m.
How can I expedite the loan process?
You can check to see if you meet all of the eligibility requirements before applying for a loan.
How can I check on the status of my loan application?
After applying for a loan at the Student Money Management Center you will be immediately approved or denied.
If approved, how will I receive the loan?
You will receive cash-in-hand.
What if my Green Loan application is denied?
You can discuss the denial of your application with the loan officer.
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 can visit the Student Accounting Office in Room 105 of the Eagle Student Services Center for assistance.
Is there a processing charge assessed to a Green Loan?
A one-time $3 processing fee is assessed to each loan. For example, if your loan is approved for $100 dollars, the processing fee is $3. You are responsible for repaying $103 by the due date stated on your promissory note.
How do I repay a Green Loan?
You must repay your Green Loan and fee in exact cash by the due date as stated in your promissory note. Repayment is accepted in the Student Money Management Center, Chestnut Hall, Suite 313, 9:00am–4:00pm Monday through Friday.
When do I have to repay a Green Loan?
You must repay your Green Loan within 10 business days after receiving the loan. The loan's due date will be stated in your promissory note.
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 the 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.
What is the penalty for late repayment for a loan?
Loans in late status will be assessed an additional $10 penalty fee.
What happens if I default on a 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.
A student who defaults on a Green Loan is ineligible to apply for either a Green Loan or Memorial Loan for the next twelve months.
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.
Can I repay a loan in multiple payments?
No. Green Loans must be repaid in full (loan amount and $3 processing fee) with cash.
Can I repay a loan by check?
No. Green Loans must be repaid with exact cash.
Who is responsible for repaying my loan?
Repayment of a loan and processing fee is a student's responsibility.
How many Green Loans can I receive?
You may receive up to two (2) loans per semester.
Can I still apply for a Green Loan if I'm receiving financial aid?
Yes.
Can I still apply for a Green Loan if I am a Dallas-campus student?
No. The Green Loan program is only available to UNT-Denton campus students.
Where can I get other financial assistance if I don't qualify for the loan?
UNT's Financial Aid & Scholarships lists alternative financial resources you may find of interest including scholarships, grants, and alternative loans.
What other services does the Student Money Management Center offer?
In addition to the Memorial and Green Loan Programs, the Student Money Management Center provides personal consultations, workshops, seminars, clinics, and online resources. A portion of your student services fee allows us to provide these services at no additional charge to you. Visit www.unt.edu/moneymanagement for more information.