Teaching Assistant loans may be issued to the recipient upon arrival on campus or 30 days before the first day of instruction, whichever is later. In most cases, this would be October 31st for Teaching Assistants who begin their employment in the Fall Quarter, January 31st for those who begin in the Winter Quar ter, and April 30th for those who begin in the Spring Quarter. Teaching Assistant loans may be up to a maximum of one month's pay, although availability of funds may require smaller average loans. Loans shall bear interest at the rate of 1 percent per academic quarter, beginning with the issuance of the loan. Additional interest shall be charged at the rate of 1 percent on balances remaining at the beginning of ensuing quarters.
Loans are due three months subsequent to granting of the loan.
The Manager, Business Services, via the Accounts Receivable Manager, is responsible for extending the period of payment to a maximum of nine months where the need is considered to be of a most compelling nature. In no case is the repayment period to exceed that of the period of employment, and in all cases, loans become due and payable upon termination of employment. Accelerated payments are encouraged at any time. Requests for extension will be supported by a supplementary statement explaining the reason for the requested extension. Delinquent or extended loans may be collected by means of payroll deduction.