Short Term Loans at MSU

Beware of payday loans

Consider carefully whether it's worth the cost to take out a "payday loan" to cover books or other expenses. You could pay as much as 391% interest!

For more information, please read these warnings from the State of Michigan and the FTC:

Short term loans offered by MSU

MSU Short Term Loans

Through the Office of Financial Aid, MSU provides low-interest short term loans (7% per year). Loans are usually granted in amounts up to:

  • $500 for undergraduate students
  • $1000 for graduate students
  • $1,700 for medical students

Short term loans are available to students who are registered for the current semester and who can demonstrate the ability to repay within 60 days.

For fast service, apply for a Short Term Loan on the web using StuInfo. If you meet the criteria, you will be instantly approved and you may pick up your loan funds the same business day, or if you prefer, you may sign your loan promissory note electronically and have your funds direct deposited into your bank account.

If you are not approved online, you may complete a paper application at the Office of Financial Aid.


Associated Students of Michigan State University (ASMSU) offers interest-free loans up to $300 through the 6th week of each semester (for undergraduate students only).

For more information, visit the ASMSU website.

COGS Loans

Through the Office of Financial Aid, the Council of Graduate Students (COGS) offers loans up to $500 to MSU graduate students. These loans are due in 60 days and are interest-free. COGS loans are administered solely by the Office of Financial Aid and all instructions, policies and conditions apply. To apply for a COGS loan you need to submit a paper Short Term Loan Application and specify that you want consideration for these funds.


MSU loans not paid by the due date result in a late fee and a hold on the student's account that prevents a student from enrolling or registering for classes, or from receiving an academic degree or transcript. The student must repay the loan in order to have the hold removed.

Payment options

Students may prepay all or any part of the loan at any time without penalty. There are three payment options available:

  1. Pay online via StuInfo by selecting the Short Term Loan Payment option from the Financial menu.
  2. Pay in person on-campus by going to Room 140 in the Administration Building to pick up a payment slip, then proceed to Room 110 to make a payment.
  3. Mail your billing statement with payment to:
    Hannah Administration Building
    426 Auditorium Road, Room 140
    East Lansing, MI 48824