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Educational Indebtedness Assistance

This document outlines the various types of assistance related to educational indebtedness offered by the General Conference (GC) for healthcare professionals, including nurses and individuals pursuing advanced degrees. It details benefits for existing educational debt, doctoral degree reimbursements, and support for Master's degree nurses, with conditions and processes for application, securing benefits, and distribution outlined. The benefits range from assistance with living expenses to direct reimbursement for tuition, up to $12,000 per couple, helping alleviate the financial burden of education and service.

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Educational Indebtedness Assistance

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  1. Educational Indebtedness Assistance GC WP N 25 05; N 25 15; N 25 30; N 45 05

  2. Types of Assistance • General Educational Indebtedness • Reimbursement of Doctoral Degree Expenses • Advanced Degree Indebtedness for Nurses • Existing Service Indebtedness

  3. General Parameters • Benefit voted by MPPC • Benefit amounts stated in USD • Benefit administered/monitored at the GC • Benefit paid over six years of service • IDE benefits from one policy

  4. General – GC WP N 25 05 • Assists with existing educational debt. • Can include living expenses while attending school. • Provides up to USD6,000 in a six-year term, or USD12,000 per couple on full-time budgets • Applies to first term of service

  5. Conditions for Application • Must have existing debt • Must be on Code 1, 2, 3, 4, 6 budget • Must provide current statement of loan/account at time of appointment • Host division/institution covers expense for Code 4 budgets.

  6. Securing the Benefit • Other-than-NAD based • Indicate educational debt when sending financial clearance vote to GC • Necessary for process: • Current account statement • Contact information for IDE • Relevant background information

  7. Securing the Benefit 2. NAD-based Happens as part of financial clearance process.

  8. Distributing the benefit • Paid directly to IDE’s account. • First installment • Paid after confirmation of arrival infield • Pro-rated for remainder of year • Subsequent installments • Paid in January anticipating year of service • Unamortized portion deducted from PR benefits

  9. Doctoral–GC WP N 25 15 • Reimburses a portion of personal expenditure for doctoral degree • Considers actual expenses for tuition, books, and required fees • Provides up to 70% annual remuneration factor over 6-year period • Splits costs 50-50 between GC and Host

  10. Conditions for Application • Completed degree within 36 months of appointment • Called to serve as faculty at institution of advanced education • Studied at some personal expense • Benefit not related to existing debt

  11. Securing the Benefit • Other-than-NAD based • Work with GC to determine eligibility • Necessary for process: • Copy of diploma (when available) • Amount of denominational support, if any • Copies of proof of personal expenditure (e.g. statement of account from institution, receipts, credit card statements, cancelled checks)

  12. Securing the Benefit 2. NAD-based Happens as part of financial clearance process. 3. Application of the policy requires prior agreement of the GC and calling division.

  13. Distributing the benefit • Paid directly to IDE’s account. • First installment • Paid after confirmation of arrival infield • Pro-rated for remainder of year • Subsequent installments • Paid in January anticipating year of service • Unamortized portion deducted from PR benefits

  14. Nurse MS – GC WP 45 05 • Assists with existing educational debt for Nurses with Master of Science degree. • Provides up to USD7,500 in six years • Pays current interest on debt

  15. Conditions for Application • Must have existing debt • Must provide current statement of loan/account at time of appointment • GC and Host share costs 50-50 on Code 1, 2, 6 budgets. • Host institution covers expense for Code 4 budgets.

  16. Securing the Benefit • Other-than-NAD based • Indicate educational debt when sending financial clearance vote to GC • Necessary for process: • Copy of diploma • Copy of current statement of account • Contact information for Appointee

  17. Securing the Benefit 2. NAD-based Happens as part of financial clearance process.

  18. Distributing the benefit • Monthly payments sent directly to loan company. • Payments start after confirmation of arrival infield • Interest payments require monthly statement

  19. Service – GC WP N 25 30 • Suggests the debt be forgiven • Provides continued amortization by employing organization (Host) of denominational service indebtedness. • Retains original time frame. • Applies to Code 1, 2, 3, 4, 6 budgets. • Provides up to USD1,000 in assistance from GC per year.

  20. Securing the Benefit • Other-than-NAD based • Contact GC when service debt is identified for Appointee or spouse • Necessary for process: • Terms of original contract • Projected balance at cessation of employment • Budget assigned, if any

  21. Securing the Benefit 2. NAD-based Happens as part of financial clearance process. 3. Requires prior agreement from calling division and GC.

  22. Distributing the benefit When the IDE reaches the field: • Service indebtedness transfers from Base institution to Host division (via GC). • GC credits Host division with its pro-rated contribution for the first year. • In subsequent years, the Host sends a debit memo to the GC at the close of each calendar year.

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