Loan Program

 

The SVA Campus Store & HR/Payroll departments are able to offer full-time School of Visual Arts faculty and staff a Loan* program to assist them in purchasing various technology products from The SVA Campus Store (computers, cameras, televisions, etc.).

This interest-free program will enable qualified employees of SVA to spread out payments over the yearly 24 pay-periods. All payments will be deducted automatically from the participating employee’s paycheck.


Criteria for Eligibility

The following conditions must be met for a purchase to be eligible for the SVA Campus Store Loan Program:

    • Must be a full-time staff/faculty member who has completed their  6-month probationary period.
    • Must be an employee in good standing.
    • Your total debt; current personal loan and campus store loan - cannot be greater than 10% of your annual salary (gross) or $5000. 
    • Payments are divided into 24 payments not exceeding one calendar year.

 


F.A.Q’s

Can I make a down payment?

Down payments are accepted. Indicate on intake form the desired deposit amount. We will adjust the amount to be financed on your loan request. Payment will be collected once your loan has been approved.

How long is the approval turnaround time?

Once your loan has been signed by your chair/department head and returned to the campus store, approval confirmation can take up to 5 days or longer depending on the season.

When can I pick up my items?

Once approved, loan items are ordered and delivery can range from 1-3 weeks.

If I have a loan out already can I request another loan?

No, you would have to pay off your current loan in order to apply for a new loan.

Where can I pay off my current loan balance?

You can contact the Payroll department for paying off the remaining balance of your loan. 

PLEASE NOTE: the payment methods accepted are check or money order. 

What items cannot be purchased with my loan?

  • Major Appliances (Refrigerators, Washers, Dryers, Etc).

  • Cell Phones (Excluding Unlocked iPhones Purchased Directly Through Apple)

  • TVs Larger Than 65"

  • Musical Instruments (Music Technology Is OK)

  • Refurbished or Used Items

  • Apple Technology From 3rd Party

Am I able to return an item I placed on a loan?

Unless an item is defective, all items not sold at the SVA Campus Store will be considered FINAL SALE.