Student Life Policies

Student Matters: Student Small Loan Funds

A student small loan fund is available to help students meet un-anticipated financial needs.

Administration of funds

These funds are administered by the Accounting Office.

  1. Loan funds are available to full-time and part-time students registered for the regular academic year. Loans are not available during winter or summer break.
  2. The maximum loan is $40.00.
  3. Loans will be on a no-interest basis.
  4. Students on the tuition deferment plan are not eligible for a loan.
  5. Loan requests must be made in person to the Accounting Office.
  6. If funds are available, a promissory note will be signed by the student. (See attached sample)

Disbursements & collections

The Accounting Office will be responsible for the disbursement of the loan funds and the receipt of the loan payments.

  1. Upon receipt of the approved promissory note, the cashier will disburse the loan proceeds out of petty cash.
  2. The promissory note will be filed in the promissory note file.
  3. Each payment will be credited to the appropriate loan fund.
  4. The loan must be repaid when the student graduates or withdraws from CalArts. If the loan is not repaid when due, the diploma, if applicable, and/or transcript will be withheld until the loan is paid-in-full.


At the end of each month, an aged list of outstanding loans will be prepared.