Tuition Benefit Policy
- 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.
- This policy applies to University Lakeside and Health Sciences Division (Schools of Medicine & Nursing), active, full- time benefits eligible employees, including staff, faculty and librarians, and qualified retirees as defined below.
- Service Requirement and...
- Retirees: 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, spouse and 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 10 or more 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.
- Company Transfers: When an employee transfers from Loyola University Medical Center to University Lakeside and Health Sciences Division with one or more years of continuous full-time, benefits eligible service at the time of transfer they may use the employee and dependent tuition benefit at the start of the academic term that begins after the date of transfer as maintained by the Department of Human Resources.
- 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: http://www.luc.edu/academics/catalog/undergrad/reg_academicstanding.shtml
- Failure to comply with stated policies and requirements will result in forfeiture of the tuition benefit for current or future terms.
- Arrupe College
- Stritch School of Medicine
- School of Law
- Executive Education programs
- Certain executive MBA cohort-based programs
- English as Second Language Programs (ESL)
- No Limited Enrollment or Cohort Based Programs
- *Continuum Programs (non credit, fee based programs)
- Any program that is not conferred at Loyola University Chicago.
- *Non Credit Certification Programs
Dependents of Faculty and Staff:
- Arrupe College
- All graduate and professional academic programs (excluded)
- Executive Education (excluded)
- Non Credit; Certificate Programs (excluded)
- Be made well in advance of the academic term and/or application to the academic program.
- Include the endorsement of your department chair, department director and dean
- Reflect a summarized list of reasons regarding how the investment (of your time and university resources) would further your career and the work of the department or school
- None at this time.
- The Employee Tuition Benefit pays 100% of tuition for eligible employees taking undergraduate or eligible certificate courses.
- 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).
- Most graduate and professional programs (see the exclusion information above) 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 in this policy.
- 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).
- The Educational Assistance Policy will allow eligible faculty and staff the ability to use the tuition benefit for all academic semesters/quarters which include J-Term and all summer sessions.
- Graduate Tuition Benefit is Taxable, please refer to "Guidelines: application Procedures & General Information" below for more information.
- The spouse, legally domiciled adult and dependent child tuition benefit pays 90% of undergraduate tuition (including Rome Center tuition and other selected Study Abroad Programs) 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 Educational Assistance Policy will allow the dependents of eligible faculty and staff the ability to use the tuition benefit for all academic semesters/quarters which include J-Term and all summer sessions.
The student will pay a co-pay per each academic term towards tuition if the student is enrolled. This co-pay will apply to all semesters including J-term and all Summer Sessions. Each summer session is subject to their own co-pay.
Note: Beginning July 1, 2017 the co-pay will be 10% of the full tuition cost.
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
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.
- In addition, the student must renew the FAFSA by March of each year for the upcoming academic year as long as they participate in the Educational Assistance Program. 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. 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. Completing the FAFSA does not obligate Faculty, Staff or their eligible dependents to accept any federal aid, grants or student loans they may qualify for as a result of their application.
- An employee can add, edit or view their dependent information online through the Employee Self Service application.
- Failure to provide Human Resources with correct dependent information in a timely fashion will result in the forfeiture of the tuition benefit for that academic term.
- Employees and their dependents who do not possess a Social Security Number but are eligible to receive the benefit should contact Human Resources directly.
When a Class May be Taken?
Graduate Tuition Benefit is Taxable
- Graduate tuition benefit received in excess of $5,250 in a calendar year is imputed as income and taxed based on current income tax tables and 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.
- The University cannot provide tax advice or counsel, so faculty and staff should consult with their personal tax advisor. Employees may seek a course specific tax exemption under narrow IRS rules for education related to your current duties and responsibilities.
- Information on “qualified educational expenses” can be found on the Internal Revenue Service website, see IRS Publication 970 on Tax Benefits for Education at: http://www.irs.gov/publications/p970/
- Up to date list of Academic Program Exclusions or Special Application Procedures are found within this policy under Program Exclusions: www.luc.edu/hr/benefits_tuition.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
- Financial Aid Forms on-line at http://www.fafsa.ed.gov/
- 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/finaid/aid-process/responsibilities/academic-progress/
- Tuition Exchange program at Jesuit Institutions (FACHEX) on-line at www.luc.edu/finaid/fachex.shtml