5.1 Advanced Academic Study
The University Administration may determine that professional growth is dependent on further academic study and may approve a staff member’s enrollment in a graduate or undergraduate program of study.
Academic Degree Loans
Staff requesting a loan from the University to pursue further study must meet the following criteria:
- Be a full-time employee.
- Complete the Academic Study Application (use form (1) on R drive) and submit for approval to the Department Chair and the Provost.
- Receive approval of the Academic Study Application.
Upon approval, the employee must sign the Advanced Academic Study Loan Agreement (use form (2) on R drive) and receive approval from the University President. The employee must meet with the Senior Vice President for Finance/CFO to finalize the financial arrangements.
The typical loan will be granted as follows:
- Bachelor’s Degree - $10,000
- Master’s Degree - $15,000
- Doctoral Degree - $25,000
Reimbursement for tuition may be submitted with a grade report and receipts reflecting expenses on an expense report. Reimbursement will not exceed ½ of the total granted for Doctoral degree or ½ for Master’s and Bachelor degrees for any given academic year. Under special circumstances, the University may agree to lend the full cost of the degree. Repayment of the loan is the responsibility of the employee. He or she agrees to immediately repay ADU if:
- The degree is not completed in the agreed upon time frame.
- The employee ceases full-time employment at ADU.
- The employee is terminated from employment at ADU.
The academic degree loan can be amortized through years of full-time service following completion of the degree. Amortization will be calculated as follows:
- Bachelor’s Degree - Three years
- Master’s Degree - Five years
- Doctoral Degree - Seven years
Loan arrangements and their amortization, which vary from the amounts identified above, will be negotiated between the staff member and administration.
Amortization for an Employee Terminated by the University
If ADU should terminate an employee’s employment because of financial constraints or program phase-outs due to no fault of the employee, and if undue financial hardship, such as prolonged, forced unemployment, is thus placed upon the employee, ADU agrees to consider the specific situation and negotiate a reasonable settlement with the employee. However, should ADU terminate the employment of the employee for cause, he or she agrees to reimburse ADU the unamortized balance of the loan upon termination.