Tuition Reimbursement and Student Loan Repayment Plans

					This is a policy a company can use to establish guidelines for tuition reimbursement or
student loan payments made on behalf of their employees. This policy establishes the
criteria employees must satisfy in order to be eligible for reimbursement. Additionally,
the company reserves the right to cancel this policy at anytime without notice. This
policy should be used by small businesses or other entities that want to establish a
consistent tuition or student loan repayment policy for their employees.
                        [Instruction: Insert company logo/letterhead here.]

                  Tuition Reimbursement and Student Loan Repayment Plans

Notice Date: _____ [Instruction: Insert notice date.] This tuition reimbursement and student
loan repayment plan supersedes all previous versions of this document.

This shall serve as written notice to all employees of _____ [Instruction: Insert company
name.] that as of ____, [Instruction: Insert effective date of policy requirement.] _____
[Instruction: Insert company name.] the following tuition reimbursement and student loan
repayment plan policy will be in effect. As with all other policies, this policy may be
discontinued at any time without further notice. In the event of such discontinuance, employees
will be reimbursed for tuition in such instances where they have begun a course pursuant to the
terms of this policy prior to its discontinuance and would otherwise have met the eligibility
requirements at the culmination of such course.

This policy will apply to _____ [Instruction: Insert all applicable personnel, or categories
thereof.]. Further, to be eligible for tuition reimbursement and/or student loan repayment under
this policy an employee must:
    1. With respect to tuition reimbursement, the requesting employee must be a full-time
       employee during all portions of the course and at the time the payment set forth
       hereunder, if any, is rendered [Comment: Company may wish to set forth any
       variations if employee is not full-time at such times due to illness, approved leave or
       similar circumstances.];
    2. With respect to student loan repayment, the requesting employee must be a full-time
       employee when the request for any payment is made and at the time such payment is
       actually made and credited to such employee’s applicable student loan account;
    3. Have completed one full year of service with the Company;
    4. [Comment: If Company has any continued service requirements after payment of
       any such tuition or student loan payment, state same here. Include whether or not
       periods of leave (whether paid or unpaid) count towards such service requirement.];
    5. With respect to student loan repayment, the requesting employee must remain current in
       its student loan repayment plan, subject to any permitted deferments;
    6. Otherwise eligible employees are or become ineligible for tuition reimbursement under
       this policy, if such employee has received a formal warning within six months prior to his
       or her request for pre-approval; or receives a formal warning following pre-approval and
       before the course is completed.

Tuition Reimbursement
The Company will reimburse eligible employees for approved tuition expenses (not including
fees, books or supplies) paid to accredited schools, colleges and universities, as set forth in this
policy.
Maximum Reimbursement [Comment: This language may be revised to reflect the correct


© Copyright 2012 Docstoc Inc.                                                             2
company sponsored reimbursement information.]
For undergraduate and graduate students, tuition reimbursement is offered at the conclusion of a
successfully completed course, for up to six credits per semester and a maximum of 18 credits a
year, pursuant to the following grade and tuition schedule:
* For an "A" grade, the Company will reimburse 100% of the tuition cost;
* For a "B" grade, the Company will reimburse 75% of the tuition cost;
* For a "C" grade, the Company will reimburse 50% of the tuition cost;
No reimbursements will be made for grades lower than a "C" grade. Further, the company will
not reimburse employees for courses in which the employee can receive a grade of only "PASS"
or "FAIL," unless no other grade option is available for the course.

Reimbursement rates are not affected by grades that are accompanied by a plus sign (+) or a
minus sign (-). Thus, for example, an eligible employee who receives a B+ will be reimbursed at
75%. Likewise, an eligible employee who receives a B- will be reimbursed at 75%.

Tuition for undergraduate courses will be reimbursed up to a maximum of $___________ per
year. Graduate courses will be reimbursed up to a maximum of $_________ per year. Courses,
required or elective, related to an employee’s work or which lead to a business-related or job-
related degree or certificate will be reimbursed up to a maximum of $_____ per year.
[Instruction: Insert applicable amounts.]
Courses Approved for Reimbursement
Certificate, Associates, Bachelors and Master’s degree programs will be reimbursed to the extent
set forth in this policy if they are business or job related and the employee meets the
requirements herein. All courses, required and elective, which are related to an employee’s
work or which lead to a business-related or job-related degree or certificate and where the
employee meets the requirements herein, will be reimbursed. The Company will determine, in
its sole discretion, whether a certificate or degree program or course is business or job related.
Application for Pre-Approval of Tuition Reimbursement [Comment: This language may be
revised to reflect the correct company pre-approval requirements.]
Employees must obtain pre-approval for tuition reimbursement under this policy. To do so,
employees must _____. [Instruction: Insert applicable requirement.] If and when the course is
pre-approved and the employee otherwise meets all the eligibility requirements, this form will
also serve as a request for payment form at the conclusion of the course.
Application For Reimbursement Upon Completion Of Course [Comment: This language may
be revised to reflect the correct company required reimbursement requirements.]
Upon completion of the pre-approved course and continued eligibility pursuant to this policy, the
employee must _____, [Instruction: Insert applicable requirements.] along with an official
transcript of grades and proof of payment. Proof of payment can be established by either a
bursar's receipt or a copy of a canceled check.


Student Loan Repayment
Student loans eligible for repayment under this policy include the following: _____ [Instruction:
Insert types of student loans, including for example, federal student loans, and/or private
student loans, bar exam loans, medical school loans.]. Company will make such repayments



© Copyright 2012 Docstoc Inc.                                                         3
for loans only applicable to an eligible employee’s education, and such repayments shall not
extend to any loan on which employee was a co-signer for another party’s educational
indebtedness. Further, the Company will not apply any such loan repayments to any outstanding
charges for late fees, penalties, or insufficient funds fees incurred previously by the employee.
Notwithstanding the forgiveness status of any such student loan, pursuant to the eligibility and
application requirements set forth in this policy, Company will make payments to the loan holder
of up to a maximum of $_____ for an employee in a calendar year and a total of not more than
$_____ for any one eligible employee. [Instruction: Insert applicable information.]

Employees wishing to apply for repayment of eligible student loan indebtedness shall: ______
[Instruction: Insert applicable student loan repayment application procedure.]




© Copyright 2012 Docstoc Inc.                                                         4

				
DOCUMENT INFO
Shared By:
Tags:
Stats:
views:398
posted:1/20/2012
language:simple
pages:5
Description: This is a policy a company can use to establish guidelines for tuition reimbursement or student loan payments made on behalf of their employees. This policy establishes the criteria employees must satisfy in order to be eligible for reimbursement. Additionally, the company reserves the right to cancel this policy at anytime without notice. This policy should be used by small businesses or other entities that want to establish a consistent tuition or student loan repayment policy for their employees.