Spring Semester 2021 Update: Beginning on Monday 3/22/21 Honor Loan awards will only be awarded via direct deposit. You will need to be signed up for direct deposit in SIS in order to receive your Honor Loan funds. If you have not signed up for direct deposit on your SIS account when you request a Honor Loan, the processing of your funds may be delayed.
Once a loan is approved you will receive your funds via direct deposit to the account you designated in SIS. Please allow 2-3 business days (Monday through Friday) from the application date for your loan to be processed.
About the Honor Loan
The Honor Loan fund was established to help University of Virginia students meet their short-term financial needs. In order to be eligible for an Honor Loan, students must be (1) currently enrolled and (2) in good standing with the University academically and financially. The Honor Loan fund is revolving, which means there is a limited amount of money available for lending and fund’s success depends on students repaying their loans in a timely manner. The loan may be taken out during the fall, spring, or summer* term. The maximum loan amount is $1,000 and students are expected to repay their loan within 30 days*. Although no interest is charged, there is a fee associated with late repayments and a hold will be placed on the student’s account. Failure to repay the loan may result in losing the privilege to borrow from the Honor Loan fund in the future.
*For loans requested during the summer, students must be enrolled in the fall semester OR a summer session. Students graduating in the spring are not eligible for the Honor Loan in the summer after they graduate.
*If a student is unable to repay the loan in full within 30 days, a payment plan or longer term may be available. Please connect with a staff member in the Business Services Office for details.
(What do you plan to use it for?)
(E.g. counseling, food insecurity, housing insecurity, support for ongoing financial challenge)