Emergency assistance is available for books and other emergency expenses through a short-term loan. Please note emergency loans can not be used to pay tuition and fees.
Qualification Requirements: Student must be enrolled in an acceptable program for emergency loans, students must have been accepted into a degree or diploma program or be enrolled in one of the seven certificate programs eligible for financial aid. Furthermore, students must be making satisfactory academic progress.
Application Procedures: Provide the Financial Aid Office with a price list of books required for your courses. Prices must be for new books. Complete the Loan Application. Please make sure all line items are complete including social security numbers, addresses, telephone numbers, and relationships. Addresses must include the street address, city, state, and zip code. Telephone numbers must include the area code. Please see below for Cosigner Requirements.
Cosigner Requirements: You must provide two cosigners for your emergency loan. The first cosigner must be an immediate family member, preferably a parent. The second cosigner must meet the following conditions: Must be 18 years old or older, U.S. Citizens, and they can not live together or with the student unless one is a parent.
Promissory Note Procedures: Carefully read the provisions included in the top section of the promissory note. Ask questions if you do not understand your obligations and the repayment terms included in this section. You and your two cosigners must sign the promissory note before a notary. The promissory note must be notarized at A-B Tech by Chris Stansbury in the Financial Aid Office, Lisa Lankford in the Business Office, or Deborah Ellison in the Admissions Office. Each one is located in the Bailey Building. The notary will need to sign and stamp all three signatures. Notaries use two types of stamps: an embosser stamp or an ink stamp. If your notary uses an embosser stamp, please make sure the seal presses through all three copies of the promissory note for all three signatures. If an ink stamp is used, your notary will need to stamp all three signatures on all three pages.
Repayment Terms: Interest will not be charged for the loan if repayment is made within 75 days. After the 75 days, the loan will bear interest at the rate of 9% per annum until the debt is paid. Should the loan become past due, the college will withhold the student's transcripts and admission to a subsequent term and graduation may be denied pending payment of the debt. The college will litigate, if necessary, to recover past due loan funds, and the student will be responsible for costs of collection including reasonable attorney fees and court costs. Students are limited to having two emergency loans within a twelve month period.