EAP | Emergency Loan Fund

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 up to $1,200 to be repaid over 6 months through payroll deduction. In order to qualify, the individual must have been an employee of FSU for at least 6 months, be currently employed, be expected to be employed for at least an additional 6 months, and not be on any type of probationary status. There must be no other resources for financial assistance and the emergency must be unexpected. Finally, all loans are submitted to a 5-member loan committee for review and final 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

Automobile repairs

Household purchases (unless lost through fire, flood, or other natural disaster)

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.


	Welcome from the Director Contacts EAPA Code of Ethics Mediation Services Mission Publications Resources Resources Services			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 up to $1,200 to be repaid over 6 months through payroll deduction. In order to qualify, the individual must have been an employee of FSU for at least 6 months, be currently employed, be expected to be employed for at least an additional 6 months, and not be on any type of probationary status. There must be no other resources for financial assistance and the emergency must be unexpected. Finally, all loans are submitted to a 5-member loan committee for review and final 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 Automobile repairs Household purchases (unless lost through fire, flood, or other natural disaster) 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.