Short-Term Loans

Short-term loans consist of a limited number of loans made by PJC in which money is loaned for only a short period of time within a single semester.

• Must be repaid by the due date.
• Maximum loan does not exceed $700.
• A service charge applies to all loans.
• Applications are available in the Financial Aid Offices.

To be eligible for a short-term loan, a student must:

• Be 18 years of age or older; otherwise, parent or guardian signature is required.  (A photo ID is required, i.e. valid driver’s license, current military identification, or passport.)
• Have a least a 2.0 (“C”) cumulative grade point average on all postsecondary coursework at PJC.
• Maintain satisfactory academic progress (maximum timeframe is not applicable).  If student is on academic warning and was enrolled at PJC the preceding term, student must wait until grades from preceding term are posted before a short-term loan can be obtained.
• Have no delinquent financial obligations to the college; i.e. LRC fines, parking fines.
• Not have an outstanding defaulted federal loan or grant overpayment under the Title IV student aid programs.
• Enroll in a minimum of three college credits, vocational credits, college preparatory, or vocational preparatory credits.
• Be able to demonstrate ability to repay the short-term loan by the due date.

Maximum short term loan amounts are for registration fees and will be based on 75% of the fees for a minimum of three credits or more, not to exceed $700.  The student is responsible for paying the remaining balance of the fees.

The minimum loan is $35.00.  A $5.00 service charge is added to the loan and is due at the same time of payment.  Loans not pain in full by the specified due date will accrue interest at the rate of 5% per annum.  Students with delinquent debts will not be permitted to register or to have grades or transcripts released.

Payments may be made during regular college business hours prior to or on the due date in the Bursar’s Office, located in the Registration Center on the Pensacola Campus or the Bursar’s Office in the Student Services Building at the Milton or Warrington Campus.