While standard student loans do not cover emergencies, some colleges and other funding organizations may make emergency rent money available to students who are in good academic standing, according to College Scholarships. Emergency financial aid may also cover costs related to health emergencies, unexpected loss of income or family emergencies.
Depending on the funding source, emergency financial aid can come in the form of tuition waivers, small loans or advances on a student's regular financial aid distributions. Emergency financial aid is aimed at keeping a student in school when an emergency occurs, as College Scholarships explains. Individual colleges may provide emergency student grants or loans on a short-term basis; generally this aid ranges from about $500 to $2,500 depending on the school, as of 2015. Students should consult their financial aid offices for specific programs.