A cash advance is a short term financial assistance made available to cover special and urgent need of an employee of the university who qualifies under the conditions set forth under this policy.

Eligible Applicants

- Full-time permanent faculty or staff of the university in active service and not on Leave of Absence Without Pay provided that a two-month gap is established after the full payment of a previous cash advance

- Full-time probationary and contractual faculty or staff with one year or two full semesters of service and with the same provision as in No. 1


Amount

Maximum of P5,000.00 and depending on capacity to pay according to the terms set.

Terms of Payment


- Four equal semi-monthly installments through salary deduction to start on the nearest pay period

- In case of separation form the university, any outstanding balance must be paid in full

Documentary Requirement


A properly accomplished application form, approved and signed by the Treasurer.

Effectivity

This policy supersedes all previous provisions covering the same program and is effective June 1, 2008.

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