Computer Loan Program
UNC Student Stores, in partnership with UNC Employee Benefits, Human Resources and Payroll Services offers to full-time, permanent UNC employees, a payroll deduction program for the purchase of computers and tablets, with accessories, from the Tech Shop.
This program will afford employees opportunities to purchase computers and tablets, with accessories, through one initial down payment and interest-free payroll deduction payments spread over six months.
Eligibility and Program Terms
The following criteria must be met to qualify for this program:
- The employee must be a full-time permanent (1.0 FTE) UNC employee with a minimum of six months service.
- The purchase will require a minimum 10%, non-refundable, down payment at time of purchase and the loan balance must meet a minimum of $50.00 bi-weekly payroll deduction or $100 monthly payroll deduction – this equals a $667.00 minimum purchase.
- The purchase must include a computer or tablet.
- The purchase total cannot exceed $3,000.00.
- These computer devices and products will be subject to NC sales tax.
- RETURNS, EXCHANGES, or REFUNDS on this purchase will follow Student Stores’ normal 5-day return policy.
- Any current Student Stores Computer Loan must be paid-in-full before taking out another Student Stores Computer Loan (that is, only one loan at any given time).
- Employees whose employment with the University is suspended or terminated for any reason are required to pay any remaining balance immediately.
Procedures to Engage Program
The following procedures must be followed to apply and engage in this loan program:
- Purchaser must bring their UNC One Card.
- Easy Employee Loan Authorization: Purchaser must come to Student Stores on Monday-Friday between 8:00 a.m. and 4:30 p.m. to get authorized and have an account set up.
- After selecting technology products for purchase, a single transaction will be rung up at the Tech Shop register. A minimum of 10% down payment of the total purchase will be due at time of purchase and should be made with cash or any Store-accepted credit card. This down payment is non-refundable.
- The remaining balance for the loan will be entered onto a payroll deduction authorization form indicating the products purchased, total loan amount, and the equal payments during each pay period the purchaser agrees to be deducted over the next six months. This form must be signed by the purchaser.
- Payroll deductions will begin the next pay period following the processed purchase. This loan deduction will be taken over 12 pay periods for bi-weekly payrolls or 6 pay periods for monthly payrolls.