The Goodwin College Homeowners Incentive Program will offer employees the opportunity to receive a $10,000 forgivable loan to help purchase a home in East Hartford.
In an initiative focused on helping employees establish permanent roots in the area and strengthening ties to the East Hartford Community, Goodwin College President Mark Scheinberg recently unveiled the school’s new Homeowners Incentive Program.
“East Hartford is Goodwin College’s hometown,” Scheinberg stated. “We’re committed to ensuring its future, and one way to do that is to encourage our employees to live, as well as work, here. The Incentive Program provides us the opportunity to support our valued workforce and help promote employee recruitment and retention while developing direct investment in the East Hartford community.”
Through the program, employees can receive a one-time forgivable loan of $10,000 to help support their purchase of a house or condominium in East Hartford. The recipient must be purchasing a home in East Hartford, and then continue to live in that home. The loan will not accrue interest, and $2,000 of the loan will be forgiven for each year of residence and continued employment.
To be eligible for the loan, the applicant must be a full-time Goodwin employee, have at least one year of full-time service, and remain in good standing with the College. This pilot Incentive Program loan will be awarded to approximately five employees annually on a first-come, first-served basis.
East Hartford Mayor Marcia Leclerc lauded the new program.
“Over the years, Goodwin has added to the community by remediating land, constructing new buildings, and supporting local businesses,” she said. “Now, committing the financial resources to bring homeowners and their families to East Hartford makes a powerful statement about the bond between the College and the Town.”
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Goodwin College is a nonprofit institution of higher education and is accredited by the New England Commission of Higher Education (NECHE), formerly known as the New England Association of Schools and Colleges (NEASC). Goodwin College was founded in 1999, with the goal of serving a diverse student population with career-focused degree programs that lead to strong employment outcomes.