John Jay College Foundation 0% Loan Program for Alumni and Employee Spouses

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The John Jay College Foundation (JJCF) 0% Loan Program — for Alumni and Employee Spouses who are Federal workers — provides interest-free loans to replace missed paychecks for federal employees affected by the government shutdown that began on December 22, 2018.

These loans are available to federal employees as follows:

  • They are John Jay Alumni who live in New York, New Jersey or Connecticut and are on furlough or are working but are not currently being paid; or
  • They are John Jay employees with spouses who are on furlough or are working but are not currently being paid.

Federal Employee 0% Loans will be repayable 21 days after the federal government furlough ends. Repayment of the full sum borrowed will be made by electronic debit (ACH) from the borrower’s checking account.

The documents below are required for a Federal Employee 0% Loan. Once you have completed or collected all the documents below and have all the necessary signatures, please submit your request in person at Jay Express located on the L level of the New Building (524 W 59 St.)

Please bring the following documents with you:

  • Loan Application completed and signed by the applicant. (Download the Application Form at the bottom of this page.)
  • Copies of government-issued photo IDs that include signatures and serve as proof of address for the applicant (e.g. driver’s license). If the driver’s license does not include the applicant’s current address, JJCF will require proof of residency (e.g. a utility bill or account statement).
  • Voided check for the applicant’s checking account.
  • Copy of the applicant’s (or applicant’s spouse’s) December 2018 government paycheck or paystub showing the amount of net take-home wages the applicant typically receives from their government job.
  • Copy of the applicant’s (or applicant’s spouse’s) most recent government paycheck or paystub received during the shutdown (should include all zeros where wages would typically appear).

Failure to submit these documents will delay the processing of your application.

JJCF reviews loan applications daily. If we have questions about your application, you may receive a call or email from the John Jay Foundation asking for further information before JJCF can process the paperwork.  JJCF, in its discretion, may decline to make a loan.

If you have any questions after reviewing the information above and downloading the application, please contact JJCF at 212-781-5081 or fedshutdownloan@jjay.cuny.edu.

 

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