The Unfunded Faculty Loan Program provides departments with a loan of up to $250,000 per new faculty member, with a repayment period of up to 4 years. This program is designed to aid in the recruitment and faculty who hold high promise of receiving extramural research support.
To be eligible for this program, the following requirement must be met:
The funds loaned will be repayable within two to four years, depending on the amount of the loan and availability of funds.
For the first research grant that pays full indirect costs that the new faculty member receives as Principal Investigator, the department will receive a 100% return of the indirect costs for up to two years. A grant that provides $250,000/year in direct costs would yield $131,250 per year of indirect funds, or $262,500 for two years. It is anticipated that returning 100% of these indirects - in this case, $262,500 - to the department will provide the funds necessary to make repayment within the allotted loan period.
To request salary support for a faculty recruit, complete the Unfunded Faculty Loan Program application and submit it with a copy of the candidate's CV or biosketch to Leslie Musshafen, Executive Director of Research.