||What is Staff Computer Loan Lottery Program? ( TOP )
The objective of the annual Staff Computer Loan Lottery program is to provide an opportunity for full-time, regular staff members to obtain a loan for the purpose of purchasing or upgrading personal computers for personal and professional use and growth in computer literacy. The loan is for two years, with no interest, at a maximum of $2,200. Deposit is not required. Repayment of the loan is handled via automatic payroll deductions. Such loans may not be used for the individual purchase of digital cameras. Digital cameras may only be included if they are part of the overall computer package being purchased. PDA’s and iPods generally would not be included.
||Am I qualified to enter the lottery? ( TOP )
The Computer Loan Lottery is open to eligible staff who meet all of these requirements:
Refer to Question 8 if you are not sure about your service status. Refer to Question 9 if you are not sure about your loan status.
- You are a full-time, regular staff of the LMU Westchester campus or the Law School and have at least two years of continuous service with the University as of December 31, 2012; and
- You currently do not have an outstanding computer loan with the University; and
- If you received a computer loan before, you must be loan free for at least 20 months, which means your previous loan must have been paid in full by April 30, 2011.
||When will this year's lottery be held? ( TOP )
The drawing of this year's lottery will be held at 12:00 pm on Thursday, December 13, 2012 at the main entrance of University Hall, located on the first floor near the corner coffee shop.
||How do I enter my name online? ( TOP )
||When can I enter my name? ( TOP )
The lottery entry opens at 8:00 a.m. on Wednesday, November 20, 2013 and closes at 5:00 p.m. on Wednesday, December 11, 2013.
||How do I know if my name is entered into the lottery? ( TOP )
After you submitted your entry, your eligibility status will be verified. If you meet all three requirements, you will receive an e-mail confirmation generally within two business days. If you do not meet one of the requirements, you will receive an e-mail about the rejection of your entry.
||Whom can I contact to find out my years of services? ( TOP )
Contact Human Resources at the Westchester campus at 310-338-7718.
||Whom can I contact to check the status of my existing or previous computer loan? (TOP )
Contact Controller's Office Loan Department at the Westchester campus.
- Last Name A-L, call 310-338-7517
- Last Name M-Z, call 310-258-5449
||What is the loan process? ( TOP )
- Staff Senate will send winners/alternates the loan packet.
- Once the winner/alternate has either purchased the equipment or obtained a quote, he/she needs to contact the Loan Department. Quotes must be on store letterhead. Printouts from a legitimate computer online site or an e-mail invoice from recognized vendors are also acceptable.
- Winner/alternate brings the purchase receipt or quote to the Loan Department along with the completed application form and notarized promissory note for approval.
- Loan Manager must approve quote or purchase receipt before a requisition for a check is given to Accounts Payable.
- After checking the paperwork, a check for the appropriate amount is made out to the applicant within five (5) working days.
- If the loan check is administered from a quote, the applicant is required to send the original purchase invoice or e-mail receipt, within two (2) weeks of receiving the check, to the Loan Department located at Suite 2200 in University Hall, to the attention of the staff who handled the process of the paperwork.
- If the loan check received exceeds the purchase amount by $100.00 or more, the applicant must return the excess to the Loan Department.
||Whom can I call if I have problems with my purchase? ( TOP )
You need to call the vendors or manufacturers whom you purchase the system from. Information Technology in the Westchester campus and Information Technology Department at the Law School are not responsible for any installation or troubleshooting of any system purchased under this program. It is your sole responsibility to contact your vendors.
||Does the $2,200 limit include sales tax and shipping cost? ( TOP )
Yes. If purchase is made outside California, you will still be required to report California sales tax on your tax form.
||What happens if I don't use the entire $2,200? ( TOP )
The final loan amount will be based on the total cost on your original invoice or e-mail receipt.
||What happens if my quote or receipt is over $2,200? ( TOP )
Your loan amount will be at the maximum of $2,200 and you are responsible to pay for the excess.
||What are wait-list alternates? ( TOP )
In addition to the initial drawing winners, a wait-list has also been created. If funds become available through individuals unable to purchase equipment prior to the deadline or individuals not borrowing the entire $2,200, those eligible alternates on the wait-lists will be notified in the order of selection.
||How do I know if I am a winner or a wait-list alternate? ( TOP )
You will be notified by the Staff Senate.
||When does my first loan repayment start? ( TOP )
February 11, 2013. The no-interest loan repayments will be made through automatic payroll deductions in 52 equal payments.
||Can I pay off the balance early? Will there be a penalty? ( TOP )
Yes, you can pay off the loan balance at any time and there is no penalty.
||How much will be deducted from my paychecks? ( TOP )
Approximately your final loan amount divided by 52.
||I won the lottery and decided not to apply, can I transfer my lottery to another eligible staff? ( TOP )
No. The lottery winning is not transferable.
||I won the lottery but decided not to apply, will my name be rolled over to next year's winners list? ( TOP )
No. You will need to enter the lottery again next year.
||What paperwork do I need to complete the loan application? ( TOP )
The winners who have accepted the lottery will receive instructions and a loan packet that includes an application form and a promissory note. You also need to include original receipt of purchase. This receipt, in the form of the quotes or invoices, must include the payee's name, itemized computer equipment purchased, and the total amount.
|Will a credit check be run on my loan application? ( TOP )
No. A credit check will be not needed to complete the loan application.
||Can I cancel my loan application at any time? ( TOP )
Yes, but it has to be requested before the check is printed.