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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:
Upon approval of the application, the employee must sign the Advanced Academic Study Loan Agreement (use form (2) on R drive) and receive approval from the University President.
The typical loan will be granted as follows:
$5,250 annual cap
$15,000 lifetime maximum
Under special circumstance, the University may agree to lend additional amounts.
Reimbursement for tuition must be submitted with a grade report and receipts reflecting expenses on an expense report. If the educational institution is being paid directly, submit the grade report and invoice from the educational institution on a payment authorization voucher (PAV).
Repayment of the loan is the responsibility of the employee. He or she agrees to immediately repay AHU if:
- The degree is not completed in the agreed upon time frame.
- The employee ceases full-time employment at AHU.
- The employee is terminated from employment at AHU.
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 AHU should terminate an employee 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, AHU agrees to consider the specific situation and negotiate a reasonable settlement with the employee. However, should AHU terminate the employment of the employee for cause, he or she agrees to reimburse AHU the unamortized balance of the loan upon termination.