Computer Loans

Interest-free loans from $300 to $2500 for the purchase of personal computers are available to MIT-WHOI Joint Program or WHOI Graduate Program students during their first two years of enrollment.

• The student must be registered for at least one term but less than six terms and expected to continue in the program during the repayment period of the loan.
• An application (link under Related Files) must be completed and submitted to the Associate Dean.
• The student is responsible for the purchasing of the personal computer.
  • The WHOI Procurement Department can provide a list of possible vendors.
  • All MIT-WHOI Joint Program students also have access to MIT’s vendor discount program, which can be found here.
• Original receipts are to be submitted with an executed promissory note to the WHOI Academic Programs Office.
• Once approved, the loan amount will be deposited to the student’s payroll account.
• A loan advance may also be requested prior to the purchase of the personal computer.
• The loan will be repaid by payroll deduction over four years or in 48 equal monthly installments if the student is not paid by WHOI.
• The loan becomes due and payable immediately if the student leaves the program.
• If a computer will be used as a part of the student’s research, MIT-WHOI Joint Program students may also want to consider asking their advisor for support in the purchase of a computer (in this case, the student may need to leave the computer with the lab upon graduation).  If you do not feel comfortable having this conversation, you may reach the MIT Joint Program or WHOI Academic Programs Office about assisting with such a discussion.

If you require assistance in the interpretation of this procedure, please contact the WHOI Registrar.

The full policy (under Related Files) should be read by anyone considering applying for the loan.