Student Loans

Effective Date: 07/01/00

Procedure Statement 1: Promissory Notes


Policy

All borrowers must agree and sign a Promissory Note for a loan to be processed.

The Student Loans Office:

  1. Reviews potential roster and promissory notes, which are printed in ITCS. Determines if borrower is receiving money for the first time. If they have received money before, makes sure proper note number has been assigned. If borrower is receiving Nursing, PCL or LDS loans, notes must be typed.

  2. The Student must sign and date the front and back of the promissory note and complete the Rights and Responsibilities form.

  3. The promissory note is then filed in a fireproof cabinet for safekeeping.