Emergency Loan Program
The Classified Senate Emergency Loan program was established to provide emergency, no interest loans of up to $500 to Classified Staff* in times of need.
*Staff = permanent, regular, monthly (not temporary or hourly) employees. Must be working at least 14 hours per week.
Completed forms must be submitted to Human Resources for verification. Requestors will be contacted by the Classified Senate President once their request has been approved/denied.
Employees wishing to receive emergency loans through the Classified Senate Emergency Loan Program must complete a Request for Emergency Fund Advance for Classified Staff and abide by the terms and conditions outlined below:
- The requestor must be a classified employee and have been employed by MiraCosta in a regular classified position for at least one year, and be working at least 14 hours per week.
- The requestor must be a dues paying classified employee. If the employee has not paid their dues, then $15 will be added to the repayment of the loan.
- Emergency loan amounts cannot exceed the amount earned per month by the employee.
- The amount of emergency loans may vary but shall not exceed $500.00 per request.
- No employee is eligible for additional emergency loans for six months following the final payment of a previous loan regardless of the previous loan amount.
- Negative payment history will jeopardize future eligibility for additional loans.
- Length of repayment shall be within sixty (60) days but must begin within thirty (30) days from the date of the loan. Any rescheduling of the repayment dates past these dates must be approved by the President or Vice President. Both the employee and President or Vice President will initial the payment change on the original application.
- Due to the limited amount of funds available, emergency loans are exclusively for the personal, unforeseen financial hardship of the employee requesting the loan.
- Repayment of the loan is automatically deducted from the employee's monthly payroll.
- The Classified Senate President reserves the right to approve or disprove any loan request.
- The Classified Senate Council reserves the right to suspend the emergency loan program at any time.