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Indiana Wesleyan University Support Knowledge Base

Housing Assistance Program

Policy

Full-time employees may be eligible to participate in the Housing Assistance Program under the following conditions:

 

  1. House must be only residence.

 

  1. House may have only one rental unit if it existed before the purchase.

 

  1. House must be located within Grant County.

 

  1. Employees may receive assistance only one time.

 

  1. The Housing Assistance Program budget is capped at $50,000 per fiscal year with funds being distributed on a first-come, first-served basis. A purchase agreement must be submitted along with the application. Additionally, the property must close within the fiscal year to be eligible for a Housing Assistance loan/grant that year.  Properties that closed in prior fiscal years will not be considered.

 

  1. The University will provide a down payment up to 20% of the purchase price, not to exceed $5,000, subject to pre-approval by the Vice President for Business Affairs.

 

  1. The funds will be given as a loan/grant with cancellation of 20% for each 12 months of service after the loan date as long as the employee resides at the property.

 

Applications are available in the Human Resources Department.

Scope

This policy applies to all the employees of the University.

History

17-Mar-2015 - Date conversion to KB

Policy information

Employee Policy 300.04.08

Owner

Executive Director for Human Resources

Approved by

Vice President for Business Affairs/ CFO

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