1. The Emergency Loan Fund is available to full members of the York University Graduate Students’ Association (YUGSA) who will be enrolled for at least one term past the term of application.
2. Members from associate member organizations are eligible only if such a possibility has been granted under their associate member agreement.
3. The maximum loan is $350 and must be paid in full before access to new funds.
4. The following must be provided in order to be eligible for an Emergency Loan:
a) Valid YU Card.
b) Documentation demonstrating current graduate student registration status at York University.
c) Post-dated cheque(s) payable to "YUGSA Inc." covering the full amount of the loan (cheques cannot be of a value of less than $50).
e) A promissory note, signed on this application, specifying terms of repayment.
5. It is the responsibility of the borrower to contact the YUGSA if the borrower runs into financial difficulties that render them incapable of repaying the loan within the specified repayment schedule.
6. When a loan is outstanding it is the responsibility of the borrower to provide the YUGSA with updated contact information if recorded contact information changes.
7. A loan will be considered to be in default when a borrower has made no good faith effort to repay their loan. Generally, this shall be considered to be the case when (per YUGSA's Standing Order 4 - Emergency Loan Fund, Article 10 (January 2011):
a) No updated repayment plan has been made within two (2) weeks of notification of a returned cheque;
b) The borrower is more than two (2) months behind on a repayment plan; or
c) The borrower has made no repayment of any amount within six (6) months of the start of the loan or has not made a payment on an existing loan within six (6) months.
Failure to maintain good standing will result in loss of eligibility for other YUGSA funds and services.
Please direct questions regarding funding to firstname.lastname@example.org