Faculty Conference Committee
The Treasurer's
Proposed Changes to College Mortgage Program
Click here to complete survey related to the treasurer's proposed mortgage policy changes detailed below
The treasurer has proposed the changes outlined below. The proposal is under review and will undoubtedly be revised substantially as a result of discussions between the treasurer and the Faculty Conference Commitee (FCC).  The FCC invites you to respond to these proposed changes in College mortgage policy:

1.  The College mortgage benefit will become one-time only:  second mortgages will no longer be possible through the College benefit.  Faculty members may take the benefit at any time, but only once.

2.  The College mortage rate, which has been set yearly by the Board of Trustees, will now be set monthly and pegged to the monthly Applicable Long Term Federal Interest Rates (AFR).  Since a taxable benefit was created for holders of College mortgages whenever the College mortgage rate fell below the monthly AFR, this change will prevent individuals from incurring a tax liability.
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Click here to complete survey of your opinion on changes to college mortgage program
 
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