Staff and Faculty Technology Purchase — Payroll Deduction Program

The University of Minnesota Bookstores (M Tech) offers interest-free financing for select technology purchases made through M Tech to qualified staff and faculty of the University of Minnesota. Repayment on qualified purchases under the program will be processed through payroll deductions.
IMPORTANT: By submitting this form, you are applying for approval to make a payroll deduction at the University of Minnesota Bookstores M Tech store. Our staff will verify your appointment and eligibility, after which you will be contacted by someone on our staff. After you are approved, you will need to come into the store to make your purchase.

Eligibility and Program Guidelines

Available to faculty, P&A, civil service and labor represented employees who hold 75 to 100 percent time appointments and have been employed at the University for at least 6 months.
U of M staff and faculty on a 12-month appointment
Eligible purchasers may pay for purchases over 13 consecutive pay periods (approximately 6 months) or over 26 consecutive pay periods (approximately 12 months). Scheduled payments are paid in full by the end of either the 6-month or 12-month payment schedule.
U of M staff and faculty on a 9-month appointment
Eligible purchasers are limited to 13 pay periods (approximately 6 months). Request for Payroll Deduction purchases must be within the first 2 months of your 9 month appoinment. Scheduled payments are paid in full by the end of the 9-month period.

Terms

  • Eligible purchases may include a computer or tablet priced at $350.00 or more, up to a maximum amount of $3,000.00 including sales tax.
  • Additional computer related items such as extended service or accidental damage warranty, software, consumer electronics, printers, accessories, sales tax, etc. may be included with an eligible purchase up to the maximum amount of $3000.00, upon M Tech approval.
  • A non-refundable fee of $25.00 is due at time of order.
  • All staff and faculty purchases require a mimimum initial down payment of 10% of the after tax amount.
  • Purchasers must agree to repayment terms via an executed Payroll Deduction Authorization Agreement and Promissory Note.
  • All purchases under the program are subject to a 3-day waiting period.
  • Remaining balances may be paid in full at any time at the M Tech Store. No partial pre-payments will be accepted.
  • Participants may have only one payroll deduction purchase out-standing at any time.
  • Returns are not allowed on purchases made through the payroll deduction program. Defective items will be replaced.
Name (required)
Address (required)
,
Phone (required) Format XXX-XXX-XXXX
U of M Email (required)
Are you a current University of Minnesota staff or faculty? (required)
Employee Id (required)

Payroll Deduction Authorization and Promissory Note

I, , promise to pay any outstanding balance owed in connection with this purchase regardless of my employment status with the University of Minnesota and I acknowledge that any amount owed on this purchase becomes due immediately upon the end of my employment with the University of Minnesota. I further acknowledge and authorize deduction from my final paycheck of any outstanding balace owed by me in connection with this purchase, including but not limited to deduction from any accrued leave payouts. If the outstanding balance is not paid within 60 days of termination from the University, a hold will be placed on my academic standing at the University, if applicable, and the account may be turned over to a collection agency. I will be responsible for all fees associated with collection activities including reasonable attorney fees that the M Tech incur in such collection efforts.
I also acknowledge, authorize, and agree to the payroll deduction reflected in the payment terms above. I have read and agree with the program guidelines outlined above.
E-signature (required)
Date4/27/2017