ERIC Number: ED226621
Record Type: RIE
Publication Date: 1982-Oct
Reference Count: 0
Faculty Housing Assistance.
Business Officer, p18-21 Oct 1982
Some of the creative financing programs currently used to provide faculty housing assistance in California and elsewhere in the United States are described. Generally, the programs fall into one of four categories: rental housing, owner housing, mortgage assistance, and housing stipends. Institutions with a comprehensive housing program often have more than one of these programs available to assist faculty. A number of campuses have traditionally provided rental faculty housing. To meet the needs of faculty who prefer to rent or who must rent, the University of California has embarked upon an extensive program of providing faculty rental apartments on the various campuses. Mortgage assistance takes the form of either first mortgage (trust deed) assistance or second mortgage (trust deed) assistance. Universities that have extensive first mortgage programs include Columbia University, Princeton University, and Stanford University. Under faculty housing construction programs, institutions provide land for development of faculty housing for sale. The primary benefit to the faculty is the availability to purchase housing on leased, on-campus land and the proximity of the housing to academic facilities. The use of housing stipends, which can include housing relocation allowances, temporary cost-of-living increases, housing payment subsidies, and interest payment subsidies, is the major trend in the private sector to attract new employees to California. Components that should be included in a housing survey of campus faculty are outlined. It is suggested that colleges should be prepared to review their programs annually and to adjust the program in response to changing market conditions. (SW)
Descriptors: College Faculty, College Housing, Financial Support, Fringe Benefits, Higher Education, Homeowners, Housing, Needs Assessment, Teacher Housing
National Association of College and University Business Officers. 1110 Vermont Avenue NW Suite 800, Washington, DC 20005. Tel: 800-462-4916; Tel: 202-861-2500; Fax: 202-861-2583; Web site: http://www.nacubo.org
Publication Type: Opinion Papers; Journal Articles
Education Level: N/A
Authoring Institution: National Association of College and University Business Officers, Washington, DC.