Emergency loans for undergraduate students

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

The University of Waterloo Emergency Loan Program provides interest-free financial assistance to undergraduate students experiencing short-term financial difficulty. These loans are intended to help cover essential living expenses—such as rent and groceries—while students await another verified source of income, including OSAP funding, co-op earnings, or employment income.

Please note:

  • Emergency loans cannot be used to pay tuition or fees.

  • Emergency loans cannot be used to arrange fees for registration purposes.

Disbursement schedule: Approved emergency loans are issued on Tuesdays and Thursdays.

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, and 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