Emergency Loan

Emergency Loan Fund

The Emergency Loan Fund (ELF) has been established to help our fellow employees who are facing unexpected financial emergencies. If qualified, an individual may receive an interest-free loan to be repaid through payroll deduction. The maximum loan amount is $1,500, and the maximum repayment period is 15 months. In order to qualify, the individual must have been an employee of FSU for at least 1 year, be currently employed, be expected to be employed for at least the period of loan repayment, and not be on any type of probationary status. All other avenues for assistance must have been exhausted. Finally, all loans are submitted to a 5-member loan committee for approval.

Qualifying Emergencies: Because everyone's situation is unique, it is difficult to say exactly what would or wouldn't qualify as an emergency. However, some general guidelines are as follows:

• Is this an unforeseen or unexpected financial emergency?

• Does this involve an illness or death of a family member?

• Is there a home fire or natural disaster involved?

General concerns that do not qualify for a loan:

• Credit card or other consumer loan charges

• Mortgage payments (unless connected with some other qualifying emergency)

• Utility payments (unless connected with some other qualifying emergency)

• Missed paychecks

• Vacation expenses

• General living expenses

Employees facing an unexpected financial emergency may contact the EAP for an appointment and, if appropriate, to complete a loan application. Funding is strictly through private donations and no state funds are used. Persons Interested in making a contribution to the loan fund may do so by direct contribution or through payroll deduction, to the FSU Foundation, attn: Emergency Loan Fund.

For more information, call the Employee Assistance office at 644-2288.