This is a program to provide financial assistance to faculty and staff of the university to help cover medical emergencies except maternity cases.
The financial assistance facility is made available to qualified faculty and staff of the university subject to availability of funds from the limit set for the year and the limitations and conditions set under this program.
Eligible applicants
– Permanent faculty or staff of the university in active service and not on Leave of Absence Without Pay
– Full-time probationary and contractual faculty and staff with at least one (1) year or two (2) full semesters of service
Amount
Maximum of P20,000.00 subject to availability of funds and subject to the following:
– Amount will be subject to the computation of the allowable semi-monthly amortization and based on the net pay
– Net pay after amortization deduction and all other deductions should not be less than 20% of the monthly basic salary
Term
Maximum of twelve (12) months for permanent employees and for those on contract, the remaining term of the employment contract.
Service Fee
6% per annum or .5% per month
Repayment
– Equal successive semi-monthly installment through salary deduction
– In case of separation from the university, any outstanding balance including charges must be paid in full
– Non-deduction as equivalent to salary advance is not allowed
Re- availment
Re-availment is allowed once the faculty or staff has fully paid 70% of her/his outstanding balance on the existing availment but not within six (6) months from the date of existing availment, the 30% balance and corresponding service fee shall be deducted from the new availment.
Documentary Requirements
– Application form duly recommended by the Unit Head and HRADO Director and approved by the Treasurer
– Authorization for payroll deductions
Effectivity
This policy supersedes all previous provisions covering the same program and is effective June 1, 2008.
