WSAS Short-Term Loans
- What are WSAS Short-Term Loans?
- As a current Wellesley College student, you may be eligible to receive a short-term loan from the Wellesley Students’ Aid Society. Our short-term loans generally range from $20 to $500 depending upon your ability to fully repay the loan within an agreed-upon timeframe (usually 3-9 months). Our short-term loans carry no fees or interest, and if a student has established good credit with the Society, they may borrow as often as the need arises, but may have only one loan out at a time.
- What is the procedure for obtaining a Short-term Loan?
- Send an email to wsas@wellesley.edu. In your email, provide the following: (1) the amount of short-term loan requested; (2) the reason for your request; and (3) your plan for repayment. Once your email has been received, a WSAS staff member will email you a link to our online Financial Assistance Application. Upon receipt of your Application and approval of your request, a WSAS staff member will provide you with a Short-Term Loan Agreement for your review and signature. Once a signed Agreement has been received, Short-Term Loan funds will be disbursed via the method selected in your Financial Assistance Application (online via PayPal or check to be picked up at our office in Schneider Center Suite 117).
- How to I pay back a Short-term Loan?
- Visit our Pay Your WSAS Loan page for information on loan repayment options.
- How do I establish a good credit rating with the Society?
- To maintain a good credit rating, you must repay all of your loans on time or request a brief extension if, for some unforeseen reason, you cannot repay by the established due date. Anyone who defaults on a short-term loan will lose her borrowing privileges for the rest of her college career.
- Are there any reasons for which short-term loans aren’t allowed?
- Short-term loan requests are evaluated on a case by case basis. Prior to coming to WSAS, students should explore other channels of funding available on campus which include, but are not limited to, Student Financial Services (Financial Aid), Class Deans, Career Education, Academic Departments, and Student Activity funding.
- How can I get more information about a Short-Term Loan?
- Email us! Kat Longee at klongee@wellesley.edu or wsas@wellesley.edu
Call us! 781-283-2992 and speak with Kat.