Computer Loan Program
The purpose of the Computer Loan Program is to assist our community members in acquiring computing equipment. Official communications from the College routinely occur via an electronic format and employees need to be able to access this information in order to participate in open enrollment and stay current with payroll and benefits information.
All benefits eligible employees in a regular ongoing position with one year of service in good standing (no active counseling notices) may participate in the program. Once eligibility is approved by Human Resources, the loan agreement can proceed.
FINANCING
Financing is available through the College's Business Office. Interest rates will be set based at 110% of the short term Applicable Federal Rate. Loan agreements may range from a minimum amount of $500 to a maximum of $2,000. Individuals are required to sign a loan agreement and payment to the College will be made through payroll deductions. A person may have one loan every four years and the loan must be paid in full within twelve months or within the normal work period if employees are in a less than 12 month position. There is no penalty for prepayment of the loan and any remaining balance is due and payable upon separation. The College is required to disclose all participants in the loan program to the Internal Revenue Service annually in our informational Form 990 tax return.
PROCESS
The first step is to obtain a computer loan application from the Human Resources (HR) office on 101 South Chester Road.
Next, decide if you want an Apple computer or a personal computer (PC). If you are interested in an Apple computer, contact the Technical Support Specialist in the Information Technology Systems (ITS) department at ext. 8571 to make your computer selections. If you are interested in a PC, make your selection at a Best Buy store of your choice. Make note of the ‘SKU’ number(s) of the items you select; they will be used to purchase your computer items. The price of a computer system may include the purchase of the system hardware, software, and any associated computer peripherals (e.g. printer, laptop cases, external drives or modems). It may also include items required to make the system functional (e.g. cables, batteries, memory cards) and shipping and handling, and sales tax. Sales tax will apply.
Once a computer has been selected and you know the amount of the loan you desire, complete the top section of the computer loan application and send it to Human Resources for approval. You will be notified by HR whether or not your application has been approved. Once your application is approved the purchase can be made by the College. Your next step, once the exact cost of the computer is determined, is to complete the loan agreement with the Business Office at x8390. After signing the loan agreement, you can collect your computer.
For additional information on computing resources, see the Employee Handbook.
