PC LOAN PROGRAM

Program Overview:

TERM: Up to two (2) years

REPAYMENT: Equal installments through payroll deductions

ACCELERATION: Balance due upon termination

INTEREST: O%

CONDITIONS:

1. Full-time faculty and staff only, after successful completion of probationary period.
2. Maximum loan amount $2,500.00
3. Equipment purchased must be new, not used.
4. Purchase must be from a commercial vendor (not from a relative, friend, etc.).
5. Prior computer loans through the University must be paid in full.

Note: This is a reimbursement program.

Program Procedure:

The following steps must be completed to obtain a PC Loan.

1. Complete and return the PC Loan application form to the Office of the VP for Finance, 19^th Floor – 55 East.
2. Approval of the loan will take, on the average, 1-2 weeks to complete. The VP for Finance Office will notify the applicant when the application has been approved.
3. Once approved, the applicant must submit an original or copy of their paid receipt(s). Purchases must be made within 30 days of the loan application.
4. Once the receipts are received, a Promissory note will be sent to the applicant.
5. After the signed Promissory note is returned, the process is complete.
6. Your reimbursement and your payroll deductions will be included in your next payroll check.

Please contact Pat Butterfield with any further questions at ext. 2-8840.