The policy was updated to reflect current titles, department names, and Emergency Student Loan Program operating practices.

Revised to reflect changes to state law allowing the University the option to charge students who borrow money through the loan program: 1) an origination fee of not more than 1.25 percent of the amount of the loan or 2) interest on the loan at a rate of not more than five (5) percent per year. Beginning in fall 2010, the policy authorizes the Student Accounting and University Cashier Services to charge a one-time 1 percent origination fee on all emergency student loans, in lieu of charging a five (5) percent annual percentage rate for these emergency loans. Revisions to this policy are effective 7/6/2010.