EVMS Emergency Loan
Students enrolling in Eastern Virginia Medical School should plan their finances to have funds to support them for the first month of each term in order to allow time for releasing of aid, disbursement to student account and processing of credit balance refunds. Unexpected emergencies do happen. A small emergency loan may be available to help cover those emergency expenses until financial aid is released.
An emergency loan carries no fee or interest if paid within 30 days. The amount of the loan is applied to the student's tuition account as a charge. The most common method of repayment is from disbursement of financial aid for the next term.
Students must meet with Office of Financial Aid to complete an emergency loan application and discuss amount needed. Applications for $500 or less may be approved by a Financial Aid Coordinator. Larger amounts may require additional signatures from the Director, Associate Director and/or Assistance Dean. Once approved, the application is delivered to Financial Services for processing. The check, authorization for use of Title IV aid, and promissory note will be available in Financial Services Office no sooner than 24 hours (business day). Students will be notified by Student Loan Officer in Financial Services when the paperwork is ready to be completed. Students must go to Financial Services to sign the promissory note and take delivery of the check.
CAUTION: This is loan is an advance on your funding for the term, not additional funding. Using funds early may result in a shortage of funds before the end of the term. Review carefully your program calendar for start dates. Your scheduled disbursement dates are reflected on the Disbursements tab of your EVMS Online Financial Aid System under each academic year to assist you with your financial planning. Typically, when all requirements have been met, for classroom programs, your aid will be processed on the first day of each term. For distance or hybrid programs, your aid will be released on the 8th day of the term (or next business day). All aid is released initially in as close to equal amounts as possible over the academic year to your student tuition account.