Foreign Visitors Loan Program

The following are procedures to assist foreign visitors requiring immediate financial support, for amounts up to $1,000, for expenses incurred prior to receiving payroll direct deposit or checks.

1. The Fiscal Administrator and visitor's sponsor evaluate the visitor's needs. The sponsoring department completes the promissory note. The sponsoring department provides the Office of International Education (OIE) with written justification to support a foreign visitor's loan and a promissory note that reflects Banner Direct Pay/General Encumbrance form. (Blank promissory notes are available at the Center). The justification letter should include the name and DS-2019 number of the individual. The sponsoring department completes the promissory note to the extent possible (see sample promissory note on attachment). The department requests Accounts Payable & Support Services to create a banner vendor number using the student identification number. Once the vendor number is created the department completes the Direct Pay / General Encumbrance form related to the loan. The Department enters Foreign Visitor Loan in the Business Purpose / Justification section of the form. The following items are sent in a packet as a single submission to the VCU Office of International Education.

a) Justification Letter
b) Promissory Note
c) Direct Pay / Encumbrance Form

2. Once the need is establish for a foreign visitor's loan, the department completes the Direct Pay/General Encumbrance form using departmental index code, departmental contact, requestor signature and approver signature. The maximum repayment schedule is four semi-monthly installment payments. Exceptions can be requested from the Associate Vice President for Business Services and Treasurer if the repayment period would result in an undue financial hardship to our foreign visitor.

3. Once reviewed and approved on page two of the promissory note, the Center forwards the promissory note and the supporting documentation to the Associate Vice President for Business Services and Treasurer's Office at Box 843040 . **Provide as much lead time as possible for processing. The Associate Vice President for Business Services and Treasurer signs the promissory note and forwards the original promissory note to Loan Management. Loan Management changes the Direct Pay/Encumbrance form, using Banner Index NU1057 Account 170001 and forwards to Accounts Payable for payment a copy (or FAX 828-9188) of the signed promissory note to Account Payable Department, attention: Valerie Washington.

4. Account Payable prepares the loan payment, with special instructions to Disbursement Operations to notify Loan Management when the check is available. (This is normally an overnight process.) If a check is generated, Loan Management retrieves the check and notifies the home department that the check is available. If the Foreign Visitor has signed up for direct deposit, the funds will be deposited into their bank account and an email notification will be mailed out.

5. Loan Management obtains the foreign visitor's signature on the promissory note, if necessary, prior to releasing the check. The signed promissory note is retained by Loan Management, and a copy is sent to Payroll to support the payroll deduction.

6. The home department is responsible for obtaining the visitor's student identification number and providing it to the Human Resource Division - Transactions.

7. Payroll will deduct the first repayment installment from the visitor's first check (salary advance or payroll check). Payroll provides Accounts Payable and Management with the visitor's social security number if it was not previously available. If the visitor is removed from payroll prior to full repayment, Payroll notifies Loan Management. Loan Management will coordinate with the Collection Unit for follow up on the collection of the loan.

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