Emergency loans for undergraduate students

Calendar with a "rent due" notation on the first of the month

The University of Waterloo Emergency Loan Program is an interest-free emergency loan that is available to undergraduate students who are experiencing short-term financial difficulty (such as rent, groceries, etc.) while waiting on another source of income. Emergency loans may not be used to cover tuition and fees or for arranging fees in order to become registered.

Applications will be accepted from the first day of lectures up to the last day of the final examination period for a term.

Sources of repayment

Examples of acceptable sources of repayment are

  • OSAP or other provincial aid funding for this term that you have not yet received. 
  • OSAP or other provincial aid funding for next term that you have arranged fees and registered for.
  • Co-op job placement income
  • Other employment income (part-time/ full-time). Please provide written proof from your employer with your start date, hours worked per week, hourly pay rate.

Rules and regulations
  • Loans are not available until tuition fees are paid or arranged.
  • Emergency loans may not be used to cover tuition and fees or to arrange fees for registration purposes.
  • Available to domestic and international undergraduate students in satisfactory academic standing.
  • Loan maximums: $1,000 for full-time students and $300 for part-time students.
  • Funding for approved loans will normally be issued via direct deposit within three business days of approval.
  • A hold (negative service indicator) will be applied to the student account once a loan has been approved, preventing the student from ordering transcripts until the hold is removed. If the loan is not repaid, a secondary hold (negative service indicator) may be applied, restricting self-enrolment, accessing transcripts and obtaining a diploma.
  • Loans are to be paid back in full within 90 days of being issued. Repayment must be made through a direct Shopify link that will be provided upon approval. Repayment can't be made to your student account.
  • Failure to remit payment by the deadline will result in further collection action:
    • Applying a $25 administrative fee on top of the original loan amount immediately

Awards & Financial Aid for Undergraduates - home