Must be a University of North Georgia (UNG) student, at least 18 years of age
Must be enrolled in the current semester
Must not have outstanding financial obligations to the university
Must demonstrate financial need
Must demonstrate the ability to repay the loan and administrative fee
Must have a minimum 2.0 cumulative GPA
Terms and Conditions
Students may apply for one (1) loan per semester.
$500 is the maximum level of consideration for fall and spring semesters.
$150 is the maximum level of consideration for the summer semester.
The repayment period for any loan may not exceed six months.
Each SMMC loan is subject to a one-time administration fee of 10% of the principal amount.
Five to seven business days are required to process a loan from application to disbursement.
SMMC loans may not be used for current tuition, on-campus housing, prior balances, or study abroad payment.
A signed loan agreement is required to be on file before disbursement of loan will be authorized.
Accounts in late status (30 days past the due date) will be assessed a $25 late penalty fee.
Should a loan become late the applicant is ineligible to apply for another SMMC loan for twelve months beginning from date of payment.
Accounts in default status (more than 60 days past the due date) may be sent to a collections agency. Should the account be assigned to collections the student's credit will be negatively impacted.
Transcript and registration blocks will be applied to late and default accounts.