University offers loan program for employees going through payroll transisiton

Beginning in July 2021, all UW System employees who are paid monthly—including UW–Madison employees—will be moved to a biweekly pay schedule. The change is a UW System initiative to align all employees on a single payroll cycle. For those employees who are paid over 12 months, the transition to biweekly pay will take place in July and August.

UW–Madison recognizes that this period of transition may present a financial hardship for some employees. Some employees may not have enough funds to reserve to cover their bills and expenses in early August. To relieve the financial burden of the change to biweekly pay on these employees, UW–Madison is offering short-term, interest-free loans to employees who are directly affected by this July/August transition.

Loan repayment can be made via payroll deduction and will take place over a 12-month period starting in October.