Benefits Information

Benefits Information

TUITION REMISSION PROGRAMS

The following information is provided as a general description of the benefits available and does not guarantee benefits to any employee. These benefits are currently considered non-taxable to the employee; however, should the IRS guidelines change on this issue, any taxes incurred will be the responsibility of the employee.

A. Saint Mary's College Tuition Remission Plan

Eligibility

Wives and daughters of full-time faculty and administrative employees in salary grades four or higher may attend Saint Mary's College without tuition charge provided regular admission requirements are met.

Wives and daughters of other full-time regular employees are eligible for tuition remission in accordance with the following schedule, which pertains to the employee's period of service:

Length of Service and Tuition Remission

After one (1) year of employment 25%
After two (2) consecutive years of employment 50%
After three (3) consecutive years of employment 75%
After four (4) consecutive years of employment 100%

Benefit

Remission of Saint Mary's College tuition is granted in accordance with the above schedule for up to eight semesters of undergraduate study. This program does not cover room and board and associated course fees. College policy requires that all applicants must apply for all federal and state grant programs on an annual basis.

Application Procedures

  1. Student must be accepted to the College.
  2. Complete an Application for Educational Benefits available through Human Resources.
  3. Return the Application for Educational Benefits to Human Resources. (The form must only be completed once, unless there is a break in attending the college. If that occurs, the employee must re-apply for this benefit.)
  4. Complete the Free Application for Federal Student Aid (FAFSA) after January 1 but before March 1. Code it for Saint Mary's College (001836).

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B. University of Notre Dame Tuition Remission Plan

Eligibility

Dependent children of full-time faculty and administrative employees in salary grades four or higher are eligible for full tuition remission benefits at the University of Notre Dame provided regular admission requirements are met.

Dependent children of other full-time regular employees are eligible for full tuition remission benefits after three full-time consecutive years of service provided regular admission requirements are met.

Benefit

Full tuition remission is available for first-year students. After the first year, the benefit is full tuition minus a 12 hour per week campus work requirement.

Application Procedures

  1. Student must be accepted for admission to the University of Notre Dame.
  2. Complete an Application for Educational Benefits available through Human Resources.
  3. Return the Application for Educational Benefits to Saint Mary's College Human Resources. (The form must only be completed once, unless there is a break in attending the university. If that occurs, the employee must re-apply for this benefit.)

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C. Tuition Grant Plan

Eligibility

Dependent children of full-time tenured faculty and administrative employees in salary grades four or higher and who have seven (7) or more years of service may receive tuition remission benefits at institutions of higher education other than Saint Mary's College or the University of Notre Dame.

Benefit

The amount of the annual grant will be the lesser of the following:

a) the tuition at the institution attended or
b) one-third of the current tuition charge for full-time students at Saint Mary's College.

Tuition remission and tuition grant payments are subject to the guidelines established by the President's Cabinet of the College and are administered by the Financial Aid Office. Prospective students and parents must apply for all grants or scholarships from any source for which they might be eligible, including state, federal and institutional awards.

Except for federal and state grants specifically categorized as "need-based", amounts received for tuition from these sources or any other source must be deducted from the total tuition before the College's grant is determined.

Grants are available for a maximum of eight (8) semesters of undergraduate study or their equivalent. The periods of study need not be consecutive. Grant payments will be made directly to the institution attended on a per term or semester basis. A tuition bill must be sent to the Business Office each term.

Application Procedures

  1. Student must be accepted to the College.
  2. Complete an Application for Educational Benefits available through Human Resources.
  3. Return the Application for Educational Benefits to Human Resources. (The form must only be completed once, unless there is a break in attendance. If that occurs, the employee must re-apply for this benefit.)
  4. Submit a tuition bill to the Business Office each semester, trimester or quarter.

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D. Catholic College Cooperative Tuition Exchange (CCCTE)

The CCCTE is a consortium of regionally accredited colleges or universities listed in the current Official Catholic College Directory published by P.J. Kenedy and Sons, New York.

Eligibility

Dependent children of all full-time employees are eligible to apply for tuition remission at another member college. All dependents must be accepted to the college or university of choice before applying for the benefit. Acceptance at the school does not guarantee availability of the benefit.

Benefit

Program benefits available at the receiving (host) institution are based on the benefits offered to the employees at the host institution. In most cases, the benefit includes full tuition for undergraduate courses. The current CCCTE Directory is the official statement of the specific benefit offered by each institution. The Directory and a listing of participating institutions may be viewed at the CCCTE website, http://www.CCCTE.org.

Application Procedures

*Applications should be submitted at least one semester in advance of when the student expects to enroll.

  1. The student applies for normal admission to the institution(s) of her/his choice in accordance with the institution's admission policies. The student must be accepted for admission before applying for this benefit.
  2. Obtain the Certificate Agreement from the Financial Aid Office at Saint Mary's College.
  3. Submit the completed Certificate Agreement to the Director of Financial Aid at Saint Mary's (liaison officer for Saint Mary's College).
  4. Complete an Application for Educational Benefits available through the Human Resources Office.  This form is also available on our website.
  5. Return the Application for Educational Benefits to Human Resources.
  6. The Saint Mary's Director of Financial Aid will submit the Certificate Agreement to the host institution for consideration. The liaison officer at the host institution is responsible for informing the student of her/his acceptance for tuition remission.

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E. The Council of Independent Colleges Tuition Exchange Program (CIC-TEP)

The CIC Tuition Exchange Program (CIC-TEP) is a network of CIC colleges and universities willing to accept, tuition-free, students from families of full-time employees of other CIC-TEP institutions.

This program will be available beginning with the 2003 - 2004 academic year.

Eligibility

Full-time employees, their spouses and dependent children are eligible to apply for tuition remission at another member college. The applicant must be accepted to the college or university of choice before applying for the benefit. Acceptance at the school does not guarantee availability of the benefit.

Benefit

Full tuition remission benefit is provided for up to four years of undergraduate study for each eligible participant. Some host institutions permit students to enroll in part-time, graduate, or study-abroad programs. (Eligibility for graduate program benefits is limited to the employee and spouse). A listing of current CIC-TEP participating institutions is available on-line at https://wp.cic.edu/Chapter/CICChapterMembers.aspx?CID=4776a598-90cd-db11-a182-005056873acc.

Application Procedures

*Applications should be submitted at least one semester in advance of when the student expects to enroll.

  1. The student applies directly for normal admission to the institution(s) of her/his choice in accordance with the institution's admission.
  2. Obtain the Tuition Exchange - Student Application from the Financial Aid Office at Saint Mary's College.  This form is also available online at http://www.cic.edu/tep/2007_TEP_studentapplication.pdf.
  3. Submit the completed Tuition Exchange - Student Application to the Director of Financial Aid at Saint Mary's (liaison officer for Saint Mary's College). This is an annual process.
  4. The Saint Mary's Director of Financial Aid will submit the Tuition Exchange - Student Application to the host institution for consideration. The liaison officer at the host institution is responsible for informing the student of her/his acceptance for tuition remission.

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General Information Regarding Financial Assistance

Treatment of Outside Scholarships and the Tuition Remission Benefit

At Saint Mary's

· If the scholarship is not restricted to tuition, it may be applied to fees, room and board and other educational expenses.

· If the outside scholarship is restricted to tuition, then it reduces the tuition remission benefit dollar for dollar.

· Grant assistance from the Indiana State Student Assistance Commission (Higher Education Award, Freedom of Choice, 21st Century) awarded to eligible Indiana residents or the Lilly Community Scholarship program is restricted to tuition. Therefore, the combination of this assistance and the tuition remission benefit may not exceed the cost of tuition. In addition, Saint Mary's policy also requires that the Federal Pell Grant reduce the tuition remission benefit.

· The Indiana Hoosier Scholarship and Robert Byrd Scholarship are not restricted to tuition and may be applied to other educational expenses.

At Other Institutions

· The treatment of outside scholarships and grants by other institutions is governed by the restrictions set by the donor organization or agency.

· The host institutional policies and any applicable state regulations govern the treatment of state, federal or institutional assistance and the effect on the remission benefit.

Other Forms of Assistance

· Students are encouraged to apply for all sources of financial assistance by completing the Free Application for Federal Student Aid (FAFSA). This application must be completed annually. This application may be used to determine eligibility for the following:

· Federal Pell Grant or Federal Supplemental Grant

· Federal Student Loans (Stafford and Perkins)

· Federal Work Study

· State Grants

· Institutional assistance

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RETIREMENT INFORMATION

The College provides retirement benefits to certain full and part-time employees through  TIAA-CREF (Teacher's Insurance Annuity Association-College Retirement Equities Fund).   In addition, any employee may enroll in a supplemental retirement annuity through TIAA-CREF immediately upon employment.  For a more specific description of the various plans, please review the following Summary Plan Descriptions:

Saint Mary’s College Defined Contribution Retirement Plan for Faculty and Administrators (available for full-time employees)

Saint Mary’s College Defined Contribution Retirement Plan for Hourly Employees (available for full-time hourly and some part-time administrative employees)

Saint Mary’s College Supplemental Retirement Plan (available for any employee, except student workers).

Questions: Contact Human Resources at Ext. 4542 or TIAA-CREF at the following number: 1-800-842-2776

 

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