DO NOT loan students program or personal funds unless it is an emergency. Despite all the advice and pre-departure preparation, some students will find themselves short of funds. Have the family deposit funds into the home account so the student can access the funds through an ATM or have the family send a foreign draft by express mail, a bank wire or transfer, or a transfer through American Express. This latter option is quite costly. Loans should be avoided, but in cases of emergency, a loan for a maximum amount of US $100.00 can be authorized. In these situations, the student must sign the form below, agreeing to repay the loan in full.
STUDENT LOAN AGREEMENT
I acknowledge receipt of a loan of
(amount and currency, not to exceed the equivalent of U.S. $100)
from
(name of program leader)
on
(date)
I understand:
l This loan is made because it is considered an emergency situation.
l This loan is made on behalf of Michigan State University and I accept full responsibility for the repayment of this loan.
l I am expected to make every attempt to repay this loan before the end of the program. If I am unable to do so, I understand that this amount will be billed to my MSU student account.
l I am permitted to receive only one loan during the length of my study abroad program.
Signature Date
Student Name (please print)
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