Different Types of Emergency Student Funding Methods

It’s a great virtue to save money, rather than spend all of it on your everyday needs. However, when an inevitable day or emergency arrives, you should figure out an accessible source of immediate cash. This is when emergency student loans become useful. As suggested by its name, emergency student loans will help you pay tuition, living costs and unexpected bills that can be seriously affect your day-to-day budget. Fortunately, there are plenty of schools with special emergency student grant systems that can be used to offset your financial need! According to well established educational institutions, you must prove your need and have good merits to make use of emergency student loans.

Different Types of Emergency Student Funding Methods
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If you are looking for emergency student loans, this will be a perfect place to begin!

University Grants and Scholarships

As mentioned previously, there are plenty of universities and colleges with grants and scholarships for deserving students. Collegescholarships.org will give you a comprehensive insight into these universities. Thus, you must start your search for emergency student loans from the educational institution itself. The loans offered will start at a minimal amount of 1000 USD and can reach up to a maximum of 50,000 USD! If you wish to qualify for an emergency student loan, you must do extensive amounts of documentation. The essays and statements must prove your need for some quick money.

The Negro Educational Emergency Fund

A famous grant for students with financial emergencies would be The Negro Educational Emergency Fund (NEED). This is a special program for students with very poor financial backgrounds. You must apply for the NEED Grant, only when all your other financial aids have exhausted. The NEED Scholarship can be availed at National and State level. Generally, the NEED Grant is given to students, who would be forced to discontinue from their studies without proper finances.

The special Army Emergency Relief Program

Next in line would be the Army Emergency Relief Program. If your loved one is a part of military services, you can make use of this emergency student aid. Additionally, the Army Emergency Relief is meant for deceased solider, veteran and active solider in duty. This is a non profit scheme, devised to help the dependents of those who struggle and fight hard for the nation. Apart from this emergency relief program, the organization has one-of-a-kind scholarships for students with good grades, ambitious dreams and genuine educational desires.

Other methods

If your emergency student loan application gets rejected, you can make use of the following strategies:

  • Opt for a payday loan. This is an advance version of your pay check, which is offered at very high rates of interest. You can use this loan to survive your tough times.
  • Use your credit card’s advance direct deposit option to avail some quick money.
  • Ask for an emergency loan from your university. If you don’t have a legitimate collateral, you will find this option useful! Since, most lenders (banks and private organizations) would ask for a reliable collateral.