1965 SGA Student Loan Program Policy Declaration

September 28, 1965 THE STUDENT GOVERNMENT ASSOCIATION STUDENT LOAN PROGRAM POLICY DECLARATION The Student Government Assocaition Student Loan Program exists for the purpose of lending amounts of mone up to $50.00 to students of Towson State College. The balance of the account shall be limited to $2,000.00. 1. Amounts of loans a. Loans to any one student may not be in excess of $50.00. b. A new loan may be made once the outstanding loan has been repaid. c. A 1% flat interest charge shall be made on each loan. 2. Program Administration a. The Student Government Association Treasurer shall administrate the Student Loan Program. b. requests for loans should be made to the treasurer who shall rule on the validity of the request. c. Appeals may be made to the Financial Committee which shall be able to overrule the treasurer;s decision by a 3/4 vote. 3. Repayment of loans a. Loans shall be repaid according the following schedule: up to $25.00 within 30 days from $25.00 to $50.00 within 45 days b. Failures to repau a loan in the stipulated amount of time will resilt in disciplinary action including invalidation of the ID card, the withholding of grades, or both. c. Debts will not be cancelled in the event the student leaves the college. 4. Valid Requests a. Those of $50.00 or less than $50.00 b. Those made by full-time day schedule students of the college. c. Those made for an established need in relation to student affairs; i.e. books, tuition, conventions, etc. d. Those approved by the Student Government Association Treasurer. e. Those made when money is available. The student making the loan shall sign the agreement pledging repayment in the presence of the Treasurer and one witness. This program shall become effective with its adoption by the Student Government Association Senate. ON NOV. 1, 1965