Gordon College assists faculty and administrative employees with the cost of moving to the Wenham area. Working through a preferred provider arrangement with a national carrier, Gordon will pay for a portion of the move based on the weight of household goods. Moving Policy
Faculty Stipend Program
In order to help full-time faculty purchase homes in the area, a housing stipend program was developed. Eligibility is for full-time faculty, over age 25, who have never owned in Essex County, MA. The stipend is for $250 or $325 per month, in addition to their base pay, depending on the town location of their new home. The stipend will continue for 11 years and 5 months, or until the faculty member is no longer employed by the college, or until they sell or move from that primary residence.
Employees in the Gordon College Defined Contribution Retirement Plan are eligible to apply for the Housing Assistance Program when purchasing a home. This second mortgage program by the College is an 8-year variable rate loan that is "paid" by the temporary loss of the match until the loan is "paid off." Increases in pay shorten the length of the loan. During the term of the loan, the employee continues to make their 5% contribution to the Retirement Plan. For more information, contact Nancy Gerardi in the Finance Office at Ext. 4056.