Writing a Student Loan Hardship Letter [Free Sample]

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Asking for money is not the easiest thing in the world. Regardless of whether a student is seeking help from their parents, a financial institution or using the federal government’s assistance program, it can be a difficult task. 

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Financing a person’s education is very important. With the great cost of schooling these days, it may be advantageous to seek many methods to pay for educational costs. 

Too many times students bank on one method of payment and forget other methods available to them, like scholarships.

Financing Education Is Very Expensive!

Financing education is very expensive. Chances are that most students will need to have a couple sources of funding to be able to pay for college. One thing that many don’t consider is the way they ask for the loan. 

They are mostly concerned with who they ask and the method gets overlooked. Writing a letter to help get assistance with financial aid is a wise choice. 

This piece of paper is one of the most important things a student will write, far greater than any essay.

Amount Requested Should Be Reasonable

The amount requested should be reasonable. Student aid is not there to allow a student to live it up while at college. 

It should pay for basic needs like tuition, room and board, clothes and other expenses associated with schooling.

The purpose of these loans isn’t to buy a new car or get a new wardrobe, or to even take a vacation. 

While having extra money may sound good in the here and now, when it comes times to repay these loans, it will be a whole different story. 

Taking only what is necessary is advised, as it will be a debt that must be paid for many years after graduation. The old saying “less is more” definitely applies here.

The student loan application letter means different things to different people. There are committees that will look at the applications and the letters, and they make decisions regarding these loans.

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Each Committee Will Have Different Expectations

Each committee will have different expectations or criteria for their approval. Some want students that are top notch, while others just want a student to have proper enrollment in an education institution. 

The field is so varied that it is important to determine what the committee are expecting up front.

This can help the student to meet the committee’s expectations and obtain the loan. In general, they want to see that the student has what it takes to make it through the program. However, there is no sure way of knowing that.

Lending money is usually based on the need. Typically, it is given to students whose parents cannot help or to children who don’t have means to pay for schooling on their own. To qualify, a person must prove the need for the program or loan.

Though this information may be stated on the application, evidence should also be included. Show that committee that without this financial assistance, schooling is not possible. Attach bank statements and pay stubs if applicable.

Fine Line Between Needing And Begging

Make sure the letter doesn’t come across as an act of desperation, which won’t sit well with those lending money. Some say that there is a fine line between needing and begging. 

No one is entitled to the funding, it is granted on a case by case basis, and there must be a need.

Everyone must go through the same approval process and then it is up to the committee. There may be a request for additional information, and be sure to give what they ask for. 

Don’t volunteer things that they don’t ask, give only the pertinent information and nothing more.

Here is a sample student loan hardship letter:

Sample Student Loan Hardship Letter

May 25, 2022

Paras Education Trust
78 Sierra Lane
Las Vegas, NV 89541

Dear Sir or Madam,

Enclosed is my application for student loans for my 2022 – 2023 college year. I am currently enrolled in [Liberty University] in the [Psychology] classes and want to stay on campus.

My desire is to be a licensed counselor that can help children through all the tragedies and hardships that they must face in today’s world.

As a career oriented person, I have wanted to be a school guidance counselor since I was a child. I have always been fascinated with the psyche and problems concerning the matters of the brain.

Without this loan, I will not be able to attend school. My parents make good livings, but they just have enough to pay for necessities. Carrying the financial burden for college just isn’t in the cards for them.

I have a meager job at a fast food restaurant, but this won’t pay the costly prices of today’s education. I have attached bank statements and my last pay stub for verification of the need of this loan.

I know if your company takes a chance on me, I will do my best to ensure that everything is paid in a timely manor. It is my intent to not only take my college courses, but I want to excel in all my studies. If you have any questions, you can reach me at [314-879-5214].


Lisa James

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