S ECRETARIAT Educational Indebtedness Assistance GC WP N 25 05; N 25 15; N 25 30; N 45 05.
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Transcript of S ECRETARIAT Educational Indebtedness Assistance GC WP N 25 05; N 25 15; N 25 30; N 45 05.
![Page 1: S ECRETARIAT Educational Indebtedness Assistance GC WP N 25 05; N 25 15; N 25 30; N 45 05.](https://reader035.fdocuments.in/reader035/viewer/2022062422/56649eb55503460f94bbdce1/html5/thumbnails/1.jpg)
SECRETARIAT
Educational Indebtedness Assistance
GC WP N 25 05; N 25 15; N 25 30; N 45 05
![Page 2: S ECRETARIAT Educational Indebtedness Assistance GC WP N 25 05; N 25 15; N 25 30; N 45 05.](https://reader035.fdocuments.in/reader035/viewer/2022062422/56649eb55503460f94bbdce1/html5/thumbnails/2.jpg)
SECRETARIAT
Types of Assistance
• General Educational Indebtedness• Reimbursement of Doctoral Degree
Expenses• Advanced Degree Indebtedness for
Nurses• Existing Service Indebtedness
![Page 3: S ECRETARIAT Educational Indebtedness Assistance GC WP N 25 05; N 25 15; N 25 30; N 45 05.](https://reader035.fdocuments.in/reader035/viewer/2022062422/56649eb55503460f94bbdce1/html5/thumbnails/3.jpg)
SECRETARIAT
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
![Page 4: S ECRETARIAT Educational Indebtedness Assistance GC WP N 25 05; N 25 15; N 25 30; N 45 05.](https://reader035.fdocuments.in/reader035/viewer/2022062422/56649eb55503460f94bbdce1/html5/thumbnails/4.jpg)
SECRETARIAT
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
![Page 5: S ECRETARIAT Educational Indebtedness Assistance GC WP N 25 05; N 25 15; N 25 30; N 45 05.](https://reader035.fdocuments.in/reader035/viewer/2022062422/56649eb55503460f94bbdce1/html5/thumbnails/5.jpg)
SECRETARIAT
Conditions for Application
1. Must have existing debt2. Must be on Code 1, 2, 3, 4, 6 budget3. Must provide current statement of
loan/account at time of appointment4. Host division/institution covers
expense for Code 4 budgets.
![Page 6: S ECRETARIAT Educational Indebtedness Assistance GC WP N 25 05; N 25 15; N 25 30; N 45 05.](https://reader035.fdocuments.in/reader035/viewer/2022062422/56649eb55503460f94bbdce1/html5/thumbnails/6.jpg)
SECRETARIAT
Securing the Benefit
1. 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
![Page 7: S ECRETARIAT Educational Indebtedness Assistance GC WP N 25 05; N 25 15; N 25 30; N 45 05.](https://reader035.fdocuments.in/reader035/viewer/2022062422/56649eb55503460f94bbdce1/html5/thumbnails/7.jpg)
SECRETARIAT
Securing the Benefit
2. NAD-basedHappens as part of financial clearance process.
![Page 8: S ECRETARIAT Educational Indebtedness Assistance GC WP N 25 05; N 25 15; N 25 30; N 45 05.](https://reader035.fdocuments.in/reader035/viewer/2022062422/56649eb55503460f94bbdce1/html5/thumbnails/8.jpg)
SECRETARIAT
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
![Page 9: S ECRETARIAT Educational Indebtedness Assistance GC WP N 25 05; N 25 15; N 25 30; N 45 05.](https://reader035.fdocuments.in/reader035/viewer/2022062422/56649eb55503460f94bbdce1/html5/thumbnails/9.jpg)
SECRETARIAT
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
![Page 10: S ECRETARIAT Educational Indebtedness Assistance GC WP N 25 05; N 25 15; N 25 30; N 45 05.](https://reader035.fdocuments.in/reader035/viewer/2022062422/56649eb55503460f94bbdce1/html5/thumbnails/10.jpg)
SECRETARIAT
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
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SECRETARIAT
Securing the Benefit
1. 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)
![Page 12: S ECRETARIAT Educational Indebtedness Assistance GC WP N 25 05; N 25 15; N 25 30; N 45 05.](https://reader035.fdocuments.in/reader035/viewer/2022062422/56649eb55503460f94bbdce1/html5/thumbnails/12.jpg)
SECRETARIAT
Securing the Benefit
2. NAD-basedHappens as part of financial clearance process.
3. Application of the policy requires prior agreement of the GC and calling division.
![Page 13: S ECRETARIAT Educational Indebtedness Assistance GC WP N 25 05; N 25 15; N 25 30; N 45 05.](https://reader035.fdocuments.in/reader035/viewer/2022062422/56649eb55503460f94bbdce1/html5/thumbnails/13.jpg)
SECRETARIAT
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
![Page 14: S ECRETARIAT Educational Indebtedness Assistance GC WP N 25 05; N 25 15; N 25 30; N 45 05.](https://reader035.fdocuments.in/reader035/viewer/2022062422/56649eb55503460f94bbdce1/html5/thumbnails/14.jpg)
SECRETARIAT
Nurse MS – GC WP 45 05
1. Assists with existing educational debt for Nurses with Master of Science degree.
2. Provides up to USD7,500 in six years
3. Pays current interest on debt
![Page 15: S ECRETARIAT Educational Indebtedness Assistance GC WP N 25 05; N 25 15; N 25 30; N 45 05.](https://reader035.fdocuments.in/reader035/viewer/2022062422/56649eb55503460f94bbdce1/html5/thumbnails/15.jpg)
SECRETARIAT
Conditions for Application
1. Must have existing debt2. Must provide current statement of
loan/account at time of appointment3. GC and Host share costs 50-50 on
Code 1, 2, 6 budgets.4. Host institution covers expense for
Code 4 budgets.
![Page 16: S ECRETARIAT Educational Indebtedness Assistance GC WP N 25 05; N 25 15; N 25 30; N 45 05.](https://reader035.fdocuments.in/reader035/viewer/2022062422/56649eb55503460f94bbdce1/html5/thumbnails/16.jpg)
SECRETARIAT
Securing the Benefit
1. 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
![Page 17: S ECRETARIAT Educational Indebtedness Assistance GC WP N 25 05; N 25 15; N 25 30; N 45 05.](https://reader035.fdocuments.in/reader035/viewer/2022062422/56649eb55503460f94bbdce1/html5/thumbnails/17.jpg)
SECRETARIAT
Securing the Benefit
2. NAD-basedHappens as part of financial clearance process.
![Page 18: S ECRETARIAT Educational Indebtedness Assistance GC WP N 25 05; N 25 15; N 25 30; N 45 05.](https://reader035.fdocuments.in/reader035/viewer/2022062422/56649eb55503460f94bbdce1/html5/thumbnails/18.jpg)
SECRETARIAT
Distributing the benefit
• Monthly payments sent directly to loan company.
• Payments start after confirmation of arrival infield
• Interest payments require monthly statement
![Page 19: S ECRETARIAT Educational Indebtedness Assistance GC WP N 25 05; N 25 15; N 25 30; N 45 05.](https://reader035.fdocuments.in/reader035/viewer/2022062422/56649eb55503460f94bbdce1/html5/thumbnails/19.jpg)
SECRETARIAT
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.
![Page 20: S ECRETARIAT Educational Indebtedness Assistance GC WP N 25 05; N 25 15; N 25 30; N 45 05.](https://reader035.fdocuments.in/reader035/viewer/2022062422/56649eb55503460f94bbdce1/html5/thumbnails/20.jpg)
SECRETARIAT
Securing the Benefit
1. 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
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SECRETARIAT
Securing the Benefit
2. NAD-basedHappens as part of financial clearance process.
3. Requires prior agreement from calling division and GC.
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SECRETARIAT
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.