MoneyLine Credit Program MoneyLine is a personal revolving line of credit available through a national banking institution, which offers a Spelman College Loan Guarantee Program. It is designed to offer employees the advantage of establishing a personal line of credit based on their current financial standing. Employees accepted for MoneyLine will receive their appropriate line of credit. The terms and conditions are outlined in the MoneyLine agreement. If an employee is declined by the bank, but meets the program criteria, the bank will contact the College's Office of Human Resources to request approval to offer a $1,000 secured and guaranteed term loan. The maximum amount the College will guarantee is $1,000, providing the employee meets the program criteria. Eligibility Full-time staff members are eligible to participate in this program after they have completed their first 90-days of employment and/or they have successfully completed their introductory period, whichever is later. Separating employees are not eligible to apply for this benefit. Faculty employees are eligible to utilize this benefit after they have completed 90-days of employment. Termination of Employment If an employee terminates employment, for any reason, all unpaid sums of the loan shall immediately become due and payable. College Discretion The College retains the right to refuse an employee this loan if there is reason to believe the loan will not be paid. Policy No.  393  Effective Date:  6/1/2002