Personal Loans

Regular full-time staff members who have satisfactorily completed their introductory periods and are in good financial standing with the University may request a small personal loan through the Finance Office.  The University periodically sets interest.  The maximum outstanding loan balance per staff member is $5,000.  If any portion of the borrower's Accounts Receivable balance is past due, the entire balance will be deducted from the net loan proceeds.  Loans must be repaid to the University through payroll deduction over a repayment period not to exceed three years.  The University reserves the right to deny a personal loan (including refinancing of an existing personal loan) if the borrower has not demonstrated good faith in keeping his/her loan and accounts receivable balances current.  If for any reason the borrower should terminate employment with the University, the loan balance plus interest is due and payable in full on the date of termination.  For additional information contact the Finance Office.