Faculty Forms
Forgivable Loan & Retention/Signing Bonus with Clawback Provision for Regular Faculty
The main difference between a forgivable loan and a signing bonus is the tax treatment. Forgivable loans are taxed over the life of the loan, while signing bonuses are taxed when paid out.
Forgivable loan usage restrictions apply for some NMG faculty. For questions about the restrictions, please contact Kevin Burrows.
See below for processing guidelines and forms. For all other questions or to process the loan or bonus, please contact Donna Kostel.
For instructions on digital signatures in Adobe Acrobat, see How To Create a Digital Signature.
Forgivable Loans
Process and Forms
Signing or Retention Bonuses
Process and Forms
- Signing or Retention Bonus Process
- Signing or Retention Bonus Template
- Signing or Retention Bonus Approval & Routing Form
Note: If a signing or retention bonus doesn't include a clawback provision, you can submit an online additional pay in myHR with the signed offer or retention letter included as supporting documentation.