Faculty & Staff Loans
Dartmouth offers no-interest loan programs to eligible faculty, salaried staff, and hourly paid staff.
Gilman Loan Program
Under the provision of a fund established by the Gilman Foundation of New York City, benefits-eligible faculty and salaried employees may borrow, at no interest and without security, up to $2,000 to assist them in meeting temporary financial problems. Priority is given to emergency situations and the loan is repaid within a one-year period using payroll deductions. Repayment must be made within a twelve-month period through payroll deductions; e.g., for a $2000 loan, the minimum repayment is $166.67 based on 12 deductions.
Once approved, there is a two (2) year wait before the employee can apply for another loan.
Please note: Long Term Disability participants are not eligible for a Gilman Loan.
Procedure
To apply, the Gilman Loan Fund application must be completed and submitted to the Benefits Analyst in Human Resources. An employee will either need to submit the application via their Dartmouth email or attach a picture of their employee ID if a personal email is being used. NO OTHER FORMS OF VERIFICATION WILL BE ACCEPTED AT THIS TIME. All applications should be submitted to Human.Resources.Benefits@dartmouth.edu.
Applications will be reviewed to make sure the employee is eligible to take the loan. Approved loans are granted on a first come/first served basis as money is available. Total application processing time is 10 to 15 days.
The employee will be notified as soon as the loan is approved. It is necessary for the employee to acknowledge receipt of a promissory note and the terms of the loan before payment is issued. All loan payments will be mailed to the employee's home address on file or will be processed via Accounts Payable direct deposit.
We strongly encourage employees to update their direct deposit information to allow for Accounts Payable payments. To update or add a new Accounts Payable account please see "Setting Up Direct Deposit for Accounts Payable". If an employee will be receiving payment via mail they should make sure their address on file is up to date through the employee self service portal.
Staff Loan Program
The loan is intended for emergency use only. Repayment must be made within a ten-month period through payroll deductions; e.g., for a $1000 loan, the minimum repayment is $50.00 based on twenty deductions.
Once approved, there is a two (2) year wait before an employee can apply for another loan and must not have an outstanding loan balance.
Please Note: Long Term Disability participants are not eligible for a Staff Loan.
Procedure
To apply, a Staff Loan Fund application must be completed and submitted to the Benefits Analyst in Human Resources. An employee will either need to submit the application via their Dartmouth email or attach a picture of their employee ID if a personal email is being used. NO OTHER FORMS OF VERIFICATION WILL BE ACCEPTED AT THIS TIME. All applications should be submitted to Human.Resources.Benefits@dartmouth.edu.
Applications will be reviewed to make sure the employee is eligible to take the loan. Approved loans are granted on a first come/first served basis as money is available. Total application processing time is 10 to 15 days.
The employee will be notified as soon as the loan is approved. It is necessary for the employee to acknowledge receipt of a promissory note and the terms of the loan before payment is issued. All loan payments will be mailed to the employee's home address on file or will be processed via Accounts Payable direct deposit.
We strongly encourage employees to update their direct deposit information to allow for Accounts Payable payments. To update or add a new Accounts Payable account please see "Setting Up Direct Deposit for Accounts Payable". If an employee will be receiving payment via mail they should make sure their address on file is up to date through the employee self service portal.