Tuition Benefits
- POLICY STATEMENT
- PURPOSE
- TO WHOM THIS POLICY APPLIES
- ELIGIBILITY FOR BENEFITS
- BENEFIT COVERAGE
- RESPONSIBILITY
- GUIDELINES: APPLICATION PROCEDURES & GENERAL INFORMATION
- APPENDIX
POLICY STATEMENT
Loyola University Chicago offers the privilege of tuition remission to full-time, benefits eligible employees, qualified retirees, and/or their spouses, legally domiciled adult and dependent children. This policy supercedes all previous tuition remission policies at University Lakeside and Health Sciences (Schools of Medicine & Nursing), and eligibility is contingent on compliance with the guidelines contained herein.
PURPOSE
The purpose of this policy is to clearly explain the responsibilities and parameters by which these benefits become available, the limits to these benefits and the conditions under which the benefits might become forfeit.
TO WHOM THIS POLICY APPLIES
This policy applies to University Lakeside and Health Sciences (Schools of Medicine & Nursing), active, full- time benefits eligible employees, including staff, faculty and librarians, and qualified retirees as defined below.
Full-time, benefits eligible faculty and staff hired (including those promoted from part-time to full-time) may use the employee tuition benefit at the start of the first complete academic term that begins after they have completed one (1) year of continuous full-time, benefits eligible employment, AND may use the spouse, legally domiciled adult or dependent child tuition benefit at the start of the academic term that begins after the employee has completed one (1) year of continuous full-time employment as maintained by the Department of Human Resources.
Full-time, benefits eligible faculty and staff who retire and are age sixty (60) or more years of age and have at least ten (10) years of continuous "full-time, benefits eligible" service with the University at the time of retirement are eligible for the faculty & staff and spouse & dependent child tuition benefit as if the retiree were still active and working full-time at the time the benefit is applied.
Deceased Employees: Dependent children of deceased employees who had more then 10 years of continuous "full-time, benefits eligible" service with the University at the time of death, will be treated as though the deceased employee was still active and working full-time at the time the benefit is applied for their dependent children.
In addition to the "full-time, benefits eligibility" and the service requirement, eligibility for tuition benefit is premised on the student's application and admission into the desired academic program. Admission into any academic program is never guaranteed and competition may be intense for a limited number of available openings. The application and admission processes with their stated requirements and requisite costs are the student's responsibility and must be complete before the employee, spouse, legally domiciled adult and/or dependent child is eligible for any tuition benefit.
Students who are eligible and receiving an employee, spouse, legally domiciled adult or dependent child tuition benefit must remain in strict compliance with all academic, financial and financial aid policies and requirements, including but not limited to the satisfactory academic progress policy at: http://www.luc.edu/finaid/responsibilities_progress.shtml. Failure to comply with stated policies and requirements will result in forfeiture of the tuition benefit for current or future terms.
BENEFIT COVERAGE
- Exclusions
- Special Application Procedures for University Health Sciences Division (Stritch School of Medicine and Niehoff School of Nursing) Faculty and Staff
Faculty and Staff - Undergraduate Tuition Benefits
Almost all undergraduate and certificate programs are covered under the employee tuition benefit program. Exclusions, enrollment caps or specialized application procedures will be determined by the Chief Academic Officer and posted annually at www.luc.edu/hr/tuition_ben_ex.shtml.
The Employee Tuition Benefit pays 100% of tuition for eligible employees taking undergraduate or eligible certificate courses (no tuition benefit fees). At no time will the tuition benefit apply to more than three courses per semester (9 semester hours) or two courses per quarter (8 quarter hours).
Faculty and Staff - Graduate & Professional Tuition Benefits
Most graduate and professional programs (except executive education, law and medicine) are covered under the graduate employee tuition program. They are specialized courses of study and require a special time commitment from the faculty and staff member in the advancement of their career and reflect a significant investment by the university in the faculty or staff member.
Exclusions, enrollment caps or specialized application procedures will be determined by the Chief Academic Officer and posted annually at: http://www.luc.edu/hr/tuition_be_ex.shtml.
The graduate employee tuition program pays 100% of tuition for eligible employees taking graduate and professional program courses. At no time will the graduate tuition benefit apply to more than two courses per semester (8 semester hours) or two courses per quarter (8 quarter hours).
children, legally domiciled adult and spouse's of "Full-time, benefits eligible" faculty and staff
Almost all undergraduate courses or programs are covered under the employee tuition benefit program. Exclusions, enrollment caps or specialized application procedures will be determined by the Chief Academic Officer and posted annually at: http://www.luc.edu/hr/tuition_be_ex.shtml .
The spouse, legally domiciled adult and dependent child tuition benefit pays 100% of undergraduate tuition (including Rome Center tuition) of full time benefits eligible employees, retirees and deceased employees. Note the benefit covers tuition only and does not include student activity or instructional fees; room and board or other expenses. The university definition of dependent child, legally domiciled adult and spouse follows the guidelines set forth by the Internal Revenue Service, which would make a dependent child no longer eligible for the tuition benefit once they turn the age of 24.
Tuition Benefit Contribution or Co-Pay for Dependent Tuition Benefit
The student will pay $615 per academic term towards tuition if student enrolled in 12 or more hours (adjusted year to year -see appendix)
The student will pay $310 per academic term towards tuition if student enrolled in 11 or fewer hours per term (adjusted year to year-see appendix)
Note: The Co-Pays may increase each July 1st
FACHEX
FACHEX is an acronym for Faculty and Staff Children Exchange Program. It is an undergraduate tuition remission program for children of full-time, benefits eligible faculty and staff of the participating institutions. It permits dependent children of full-time, benefits eligible faculty and staff an opportunity to receive the same tuition benefit offered at 25 of the 28 Association of Jesuit Colleges and Universities. Details, benefits and application procedures vary by college and university. See information on the FACHEX programs which are available and updated at www.luc.edu/finaid/fachex.shtml
RESPONSIBILITY
In order to maintain eligibility for the benefit, it is the employee's responsibility to comply with all the guidelines and deadlines explained in this document.
GUIDELINES: APPLICATION PROCEDURES AND GENERAL INFORMATION
All employees or their dependents who are or may be admitted at least half-time in a degree-granting program and who wish to use tuition benefit must complete and file the key financial aid form called the Free Application for Federal Student Aid (FAFSA) with the Department of Education and must complete the entire financial aid process, including all required documentation and signatures before the academic term for which they are seeking the benefit but typically in the spring semester prior to each academic year.
Additionally the student must continue to file for financial assistance at the beginning of each calendar year thereafter (usually in February before the next academic year). The Free Application for Federal Student Aid (FAFSA) form is available online at www.fafsa.ed.gov or from the Office of Student Financial Aid and Human Resources. Note: Employees and/or their dependents must comply with all of the posted deadlines that pertain to filing financial aid forms. Failure to turn in forms before the latest deadline prior to beginning of the academic term for which tuition benefit is requested will result in the forfeiture of the tuition benefit for that term.
Employees requesting the tuition benefit for themselves or for their spouses, legally domiciled adult or dependent children must complete a Tuition Benefit Requisition form each term and forward it to the Human Resources Department as soon as the student has registered. The Tuition Benefit Requisition is located at www.luc.edu/hr/online_forms.shtml. Failure to submit the Tuition Benefit Requisition to Human Resources prior to the beginning of the academic term will result in the forfeiture of the tuition benefit for that term.
This benefit applies to tuition only. The employee is responsible for all fees (i.e., room, board, late fees, activity fees, online course fees, etc.). Payment must be made, in full or via acceptable payment arrangements made through the Bursar's Office, by the payment deadlines established by the Bursar for the term in question. Failure to make timely payments or negotiate a satisfactory repayment schedule with the Bursar's office on the schedule posted by the Bursar's Office, will result in the forfeiture of the tuition benefit for one or more future academic terms.
Those eligible who take advantage of the tuition benefit must comply with all posted deadlines pertaining to application, registration, fee payments, financial aid, and submission of Tuition Benefit Requisition. In order for employees requesting the tuition benefit for themselves or for their spouses, legally domiciled adult or dependent children to not have a late fee assessed to their student business account, tuition benefit forms for Fall term need to be date stamped prior to August 25, Spring prior to January 12, and for Summer, May 18. Furhter, if a deadline is missed or an outstanding balance is unpaid, the tuition benefit can be forfeited for the current term and, if an employee's failure to meet deadlines continues to be an ongoing problem, payment of the benefit will be suspended for future terms.
When a Class May be Taken
Employees may take classes outside of their normal work Schedule up to the maximum credit hours appropriate (See Section V above). Any exception to this rule is a very rare exception and must have a written endorsement by the supervisor that includes the agreed arrangements to make up all missed time and work and a signed authorization by the appropriate Vice President or Provost.
Graduate Tuition Benefit is Taxable
Federal law currently makes graduate tuition benefit provided in a calendar year that is in excess of $5,250 subject to federal & state income tax as well as social security withholdings. An employee's graduate tuition benefit over $5,250 is imputed as income and taxed based on current income tax tables and your tax bracket. Additional tax withholdings for this taxable tuition benefit will be taken from paychecks during the course of the academic term for which tuition benefits apply. Employees may seek a course specific tax exemption under narrow IRS rules for education related to your current duties and responsibilities. The University cannot provide tax advice or counsel, so faculty and staff should consult with their personal tax advisor.Information on “qualified educational expenses” can be found at the Internal Revenue Service http:/www.irs.gov/ and see IRS Publication 970 on Tax Benefits for Education at: http://www.irs.gov/publications/p970/
Undergraduate Tuition Benefit is not Taxable
Federal law currently does not consider the employee, spouse or dependent child undergraduate tuition benefit as a taxable benefit at educational institutions defined by the Internal Revenue Code.
APPENDIX
Up to date list of Academic Program Exclusions or Special Application Procedures at: http://www.luc.edu/hr/tuition_be_ex.shtml
Up to date list of Financial Aid, Tuition Benefit and Payment Deadlines can be found at: www.luc.edu/bursar or www.luc.edu/finaid
Up to date linformation on Co-Pay for Dependent Tuition Benefit (adjusted year to year).
Up to date information on qualifying work-related educational expenses can be found at: http://www.irs.gov/publications/p970/
Financial Aid Forms on-line at http://www.fafsa.ed.gov/
Tuition Benefit Form on-line at www.luc.edu/hr/forms/shtml
Undergraduate Admissions admission information and processes www.luc.edu/undergrad
Graduate and Professional programs admission information and processes at www.luc.edu/gpem
Academic Progress policy on-line at www.luc.edu/edu/finaid/responsibilities_progress.shtml
Tuition Exchange program at Jesuit Institutions (FACHEX) on-line at www.luc.edu/finaid/fachex.shtml
(rev:10/07, 9/08, 4/09, 06/09)