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The terms and conditions for Emergency Student Loan repayments are included in the formal loan agreement that must be signed by the applicant.
The terms and conditions contained in the Emergency Student Loan agreement are legally enforceable and legal channels of recourse are available to both parties.
Unless otherwise negotiated with the Loans Officer, failure to repay the loan as per the agreed schedule may incur a financial penalty. It shall be the responsibility of the debtor to bear all expenses, fees and reasonable costs incurred by the University when an account of outstanding debt is referred to a debt collection agency for recovery.