Short term crisis loans and grants may be available for students to assist experiencing financial hardship as a result of unexpected life events or circumstances. This program is just one of many financial assistance programs on campus.
Crisis loans/grants are also known as short-term loans/grants and are generally under $500. This fund is provided through generous gifts from private donors.
Common uses for crisis loans and crisis grants
- Unexpected medical expenses
- Car repair
- Travel expenses for family emergency
- Replacement of items lost to theft/fire damage
Crisis loan funds cannot be used for tuition expenses.
Eligibility requirements
Crisis Loan Requirements
- Must be currently enrolled in at least one course at UW-Madison
- Student seeking emergency financial support for a non-tuition related life expense
- If applying during university breaks, student may be eligible to receive loan if they were enrolled during the previous term and be enrolled for the following term. To be eligible for a loan during summer term, student must be currently enrolled in summer course
- Student cannot receive a crisis loan if they have a current unpaid balance from a previous crisis loan
Crisis Grant Requirements
- Must be currently enrolled in at least one course at UW-Madison. Student are not eligible for grants during breaks unless they are currently enrolled in a course.
- Crisis grant eligibility is based one your Estimated Family Contribution (EFC) on your FAFSA. After applying, our staff will confirm your eligibility status through our colleagues in the Office of Student Financial Aid.
- Student cannot receive more than one crisis grant from our office in a 12-month period
How to apply
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1. Download, complete, and submit the loan/grant application
There is one application form for the loan and grant. If you apply for one, our office will determine which options you are eligible for after you apply.
- Electronically complete and sign application OR Print and complete a copy of the application form.
- Submit the completed form to osas@studentaffairs.wisc.edu
2. Schedule meeting with Office of Student Assistance and Support
After submitting your application, call the Office of Student Assistance and Support at 608-263-5700 to make a 30-minute phone appointment to meet with a staff member. Due to processing time necessary, meetings cannot be held the same day as application is submitted.
3. Attend phone meeting with staff member
Meet with an Office of Student Assistance and Support staff member via phone to discuss your application.
During this meeting, the staff member will discuss your situations, share approval decision, next steps, and repayment deadline (for crisis loan). Staff member will also discuss other support resources and options that may be applicable for your circumstances.
4. Sign the promissory note for short term loan (if approved for crisis loan)
When the loan application is awarded, a promissory note will be emailed to the student by the Bursar’s Office. It must be signed and sent back in. The promissory note states the student’s intentions to pay the loan back.
The student will be responsible for emailing the signed document back to stuloans@bussvc.wisc.edu.
Process after approval
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Processing time
It is estimated that loans/grants will be available within 1-3 days for a direct deposit after approval. Paper checks may take longer and will require setting up an appointment with the Bursar’s office.
Receiving your loan/grant: direct deposit (preferred)
Office of Student Assistance and Support staff will work with student to make sure direct deposit (also known as an ACH refund, or an e-refund) is set up in their student center.
It will take 1-3 business days from the day the refund is processed to receive the funds in the bank account. The overall process (approving application, signing prom note, processing eRefund, receiving eRefund) should take approximately 3 business days, but once we process the refund, the student will typically see it the next day.
Receiving your short term loan: paper check
A paper check is still an option if direct deposit can’t be set up.
- Paper checks will only be processed once per week.
- Paper checks will require an appointment with the Bursar’s Office to pick up the check.
Due dates and interest
Due Dates
Crisis or short term loans should be paid back in
three months.
Students can apply for an extension if needed,
during the three months.
Interest
Crisis or short term loans are interest-free,
if paid back within three months
If a loan becomes past due, a $10 per month late fee will be added to the loan by Bursar’s Office.
Financial Aid Questions
For questions related to financial aid, please contact the Office of Student Financial Aid. The Office of Student Financial Aid has a team of people ready to help connect you to the financial and other resources you may need.
For questions related to your tuition/student fee balance, please contact the Bursar’s Office.
Additional Financial Support Resources
- On-Campus Food Access and Financial Resources: This website contains information about a number of programs available on-campus related to food access and financial security, including frozen meals, pay-what-you-can meals, and more
- The Office of Student Financial Aid Office may be able to provide support if you are experiencing current emergency circumstances that are preventing you from meeting immediate and essential expenses. Essential expenses may include limited access to food, lack of housing, or an emergency medical situation. Funding is limited and financial assistance may not be available to fulfill each request. Information on Financial Aid Emergency Support.
- The Basic Needs Resource through the Office of Student Financial Aid lists support services for your basic needs. There are also basic needs assistants available to help connect with you to navigate resources. Students can connect directly with a Basic Needs Assistant by either emailing basic.needs@finaid.wisc.edu or completing this request form.
- Financial Aid Success Coaching: Office of Student Financial Aid coaches are happy to meet with students and talk through financial goals and strategies to achieve these.
- Financial Aid Advising: Financial Aid advisors are also always happy to have the conversation about finances and budgeting!
- Be Engaged Workshops: A pre-recorded workshop on Financial Hygiene by the Office of Student Financial Aid as a general introduction to the topic.
- GradReady: A free, financial wellness platform to learn and test your knowledge about financial life skills such as budgeting, saving, real-life finances, etc.