By general policy, the University does not provide loans to employees. However, loans may be extended on an exception basis to employees under conditions of extreme personal need, or for the purpose of recruitment and retention of key faculty and staff.
May 2023Responsible Office
The availability of this program is at the sole discretion of the President, Provost, Executive Vice President, or Vice President for Finance and Treasurer.
Loans under this program are conditional upon the borrower’s continued employment by the University. Upon termination, all amounts become due and payable in accordance with the terms of the associated note.
All loan terms and conditions will be determined by the Office of the VP for Finance and Treasurer.
Only requests made by the President, Provost, Executive Vice President, a Vice President or a Dean will be considered. Requests for terms falling outside of the standard loan program must be submitted to the Office of the VP for Finance and Treasurer for approval. In certain circumstances, the Treasurer may require the additional concurrence of the Provost or Executive Vice President.
The requesting Dean or Vice President will assume all budgetary responsibility in the event of default.
The following is required by all borrowers:
The Office of the VP for Finance and Treasurer, in consultation with the Office of General Counsel, has responsibility for ensuring compliance with applicable federal, state and local regulations.