Project/Program Assistantship (PA) Announcement:
UW-Madison is offering financial assistance for staff, including graduate student project assistants, who may be impacted by new federal payroll regulations that go into effect Jan. 1, 2020.
Changes approved this fall to the Fair Labor Standards Act (FLSA) include regulations regarding pay for part-time employees who will now be considered nonexempt based on their eligibility for overtime pay and salary amount. Approximately 1,000 employees at UW-Madison, including 500 graduate student project assistants, will now be paid biweekly instead of monthly.
Paychecks will be issued on Thursdays, approximately two weeks after the end of the pay period. The first three biweekly paychecks in 2020 will be issued on January 16 and 30, and February 13.
As the university implements this federal change, we understand the transition could cause financial hardship for some employees, particularly in early February when rent and some bills may be due, as the biweekly paycheck will be for a smaller amount than the former monthly paycheck.
Affected graduate students may apply to the Dean of Students Office for $1000 interest-free short-term loans.
If you have questions regarding these payroll changes, please contact your local HR.
PA Short Term Loan:
Short term loans may be sought by students when an unexpected life event or circumstance takes place that causes financial hardship. We are accepting short-term loan applications for PA’s starting on January 21, 2020. PA’s are eligible to apply for up to $1000. They may not be used for paying tuition/fees or any fines. Dollars for this fund are from generous gifts from private donors and from the proceeds of fundraising efforts by student organizations. Short term loans should be paid back within 3 months and are interest-free during this time period. If a loan becomes past-due, then 8% interest is charged and a $10.00 per month late fee. You can apply for an extension if you need one during the allocated time.
To Apply for a PA Short Term Loan:
- Print and fill out a copy of the application form.
- Send in the completed application to firstname.lastname@example.org or drop-off at Bascom Hall, Room 70.
- The drop-in staff in the Dean of Students Office will review your loan and send to the Bursar’s Office to be processed.
- When your loan is approved, it will be available for pick up the following business day after 10am in the Bursar’s office.
Persons applying for short term loan funds must be enrolled at the time of application. If applying between semesters, you must have been enrolled during the previous term and be enrolled for the following term. If a student has an outstanding short term loan, they are not eligible for further loans until the previous loan is paid.