PC Loan Program

Effective March 28, 2006

Regular faculty, regular staff and administrators, who are 80% or greater FTE, are eligible to participate as outlined below. House staff, temporary lecturers, post doctoral research associates and fellows are not eligible to participate. Eligible participants must be in good standing on all university financial obligations.

An eligible participant may submit an application for an interest-free loan stating an intent to purchase a computer, printer, any peripheral computer, or computer software for personal or professional use.

• Purchases may be from any wholesale or retail vendor, other vendors must have prior approval from Human Resources. The maximum amount of the loan is $1,500.
• Applications for loans to purchase office furniture, desks, chairs, file cabinets, etc. will not be accepted.
• Loan amounts must be repaid in equal monthly/biweekly installments over a period not to exceed 12 months.
• Participants must reimburse the fund in full if no purchases are made within 30 calendar days, or if the amount expended is less than the loan difference between the two.
• Participants must retain a copy of their purchase invoice and submit a copy to the Human Resources Department within 30 calendar days of the date of the loan. Failure to submit appropriate documentation to the Human Resources Department will result in the entire amount of the loan being designated as due and payable.
• The full balance of the loan is due and payable upon termination of employment or change to an ineligible employee status.
• A participant is ineligible for an additional loan if there is an outstanding PC loan, or if a participant has received a PC loan within the previous 24 months.
• This program only applies to purchases made after approval of the application AND with the employee's signature on the loan agreement.
• A participant is eligible to receive a loan as of their one year anniversary date.

PC Loan Process

• Employees will receive notification at the e-mail address identified on the application when they are next on the waiting list to receive a computer loan.
• Employees have two weeks from the date of notification to respond.
• If an employee confirms continued interest in receiving a computer loan, they will be notified via e-mail to come to Human Resources and sign a promissory note. The employee must come to Human Resources to sign the promissory note within 10 days of e-mail notification.
• The loan amount will be included on the next available paycheck.

During the PC Loan Process

• Employees can track their status on the PC Loan waiting list (XLS). The list is updated monthly.
• In the event your employee ID does not appear on the waiting list, please e-mail us.