We would like to take this opportunity to highlight some of the resources and support available to you as a member of the Georgetown University community.
Payroll Advance Policy
The University recognizes the need to offer payroll advances to employees for financial security during extreme emergency situations, including financial hardship as a result of the government shutdown. If you would like to request an advance on your pay, the policy can be reviewed here.
If you have questions regarding this policy/process, please reach out to Claudette Richardson at firstname.lastname@example.org.
Hardship Withdrawal or Personal Loan through Your Voluntary Contribution Retirement Plan
Employees enrolled in Georgetown’s Voluntary Contribution Retirement 403(b) Plan may access their funds through a hardship withdrawal or personal loan. More information can be found here.
If your account is managed by TIAA, you may borrow up to 45 percent of your balance or $50,000 (whichever is less) by personal loan. Money borrowed can be used for any purpose and is not subject to taxes or penalties. You must repay the loan directly through the investment company. If you are interested in a loan, but your account is not with TIAA, you may transfer funds into TIAA. For more information regarding loans from the Voluntary Contribution Retirement Plan, contact the Benefits Office at email@example.com.
Rules pertaining to hardship withdrawals are enforced by the IRS and therefore we cannot make any exceptions to them. Hardship withdrawals can be authorized for six reasons:
- to finance the purchase of a primary residence;
- to avoid eviction/foreclosure;
- educational expenses for you or your dependents;
- out-of-pocket medical expenses for you or your dependents;
- funeral expenses for your parent, spouse, children or dependents; or
- to pay for expenses for the repair of damage to your residence, that would qualify for the casualty deduction
Hardship withdrawals are subject to federal and state income tax and early withdrawal penalties if used before retirement age.
For more information about personal loans or hardship withdrawals from the Voluntary Contribution Retirement Plan, please contact the Office of Faculty and Staff Benefits at firstname.lastname@example.org or call (202) 687-2500 to make an appointment.
Temporary Job Opportunities through Hoya Staffing
Furloughed employees may apply for temporary positions through Hoya Staffing, Georgetown’s internal temporary staffing organization. Hoya Staffing places qualified candidates in temporary assignments throughout the university. Interested parties may apply for positions here.
Should you or your family member have any questions, please feel free to contact Charmagne Wesby, Manager of Hoya Staffing, Department of Human Resources, at (202) 687-0851.
The Hoya Hub provides non-perishable food items for any members of the Georgetown community experiencing food insecurity. Located in the Leavey Center, it is accessible via punch code, which can be obtained by visiting foodpantry.georgetown.edu.
Faculty and Staff Assistance Program
The Faculty and Staff Assistance Program (FSAP) provides free confidential counseling and referral services to faculty, AAPs, staff and family members for personal or work-related problems. All records and discussions are handled by qualified counselors on a confidential basis. The FSAP deals with a variety of work and personal issues, related to conflict resolution, health, emotional stress, grief, relationship violence, psychological problems, relationship and family problems, parenting and child care, aging relatives, substance abuse, legal problems, and financial concerns. For more information, visit hr.georgetown.edu/fsap or call (202) 687-2396.
Loans and Services available through Georgetown Federal Credit Union (FCU)
As a financial cooperative, the Georgetown FCU provides services only to its members. However, as an employee of Georgetown University you are eligible to join. Once a member, you can immediately begin to take advantage of Georgetown FCU services. Additionally, your immediate family members are also eligible to join.
- Short Term (Emergency) Loans: Members of the Georgetown FCU may take out an emergency loan up to $1,000. Please contact the credit union for more information regarding repayment and interest rate requirements. Typically these loans require you be a member for six months before applying. If the government shutdown has affected you, that six month waiting period will be waived.
- Signature Loans: These loans are available to members immediately upon joining the credit union. You may apply for a loan of $500 - $20,000 with a repayment term up to 48 months (based on loan amount) and rates as low as 7.5 percent APR.
- Financial Counseling: Georgetown FCU offers financial education opportunities to receive free and confidential assistance with budgeting, credit report review, and personal money and debt management.
We recognize this is a stressful time for many members of our community. We hope these resources may provide some relief. The Department of Human Resources, Office of Faculty and Staff Benefits and the Georgetown Federal Credit Union are committed to assisting you during this time. If you would like more information about non-Georgetown resources for furloughed employees, please feel free to contact us.