| Overall Rating | Bronze - expired |
|---|---|
| Overall Score | 37.45 |
| Liaison | Lisa Lonie |
| Submission Date | July 28, 2011 |
| Executive Letter | Download |
Haverford College
Tier2-10: Local Housing
| Status | Score | Responsible Party |
|---|---|---|
|
0.25 / 0.25 |
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Does the institution have incentives or programs to encourage employees to live close to campus?:
Yes
None
A brief description of the incentives or programs:
Currently the college provides rental properties on campus for faculty.
The college also provides the following:
MORTGAGE PROGRAM
The mortgage aspect of the Faculty Housing Policy is an important buttress to the larger rental program. It encourages tenure-line and Continuing Appointment faculty who find College housing inappropriate for their families and who wish to own their own homes to locate near the College rather than in less expensive but more remote areas. In addition, it permits those who elect to live on campus to consider their choice a voluntary one rather than one imposed by the high cost of homes in the surrounding area. Having faculty members living near the campus permits the College to receive some of the benefits described for on-campus housing.
Haverford's current policy is to provide to tenure-line and Continuing Appointment faculty and senior administrators who report directly to the President a 20-year mortgage at a rate of 1.5% below Philadelphia market rates or at federal safe harbor rates, whichever is higher; no points are charged. The maximum mortgage is $250,000, if family income is sufficient to cover a mortgage of this size. The mortgage amount can represent up to 90% of the value of a house within four miles of the campus. The College will not provide mortgage support for a house farther than four miles from the campus. Prospective users of this policy must discuss the details with the Vice President for Finance and Administration (extension 1223) before making any commitments. This policy can be amended by the Board of Managers at any time.
Mortgages may be granted to faculty members who are living in College housing and approaching retirement. These mortgages will be for a maximum term of 10 years and for a maximum principal amount 1/2 that of the regular mortgage. All other terms apply (e.g., the house still must be within 4 miles of campus).
None
The website URL where information about the incentives or programs is available:
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Data source(s) and notes about the submission:
The college does not provide incentives to staff, but does have a faculty rental and mortgage program.
The information presented here is self-reported. While AASHE staff review portions of all STARS reports and institutions are welcome to seek additional forms of review, the data in STARS reports are not verified by AASHE. If you believe any of this information is erroneous or inconsistent with credit criteria, please review the process for inquiring about the information reported by an institution or simply email your inquiry to stars@aashe.org.