VCOM Institutional Policy and Procedure Manual

VCOM Policies and Procedures

Policy #U003

the degree and cost to the institution. This commitment ensures that the investment in professional development directly benefits both the employee and the institution. Presently employees can exclude educational aid from their income, if it is within an IRS allowable amount from the qualified employer-provided educational assistance. Amounts paid to the employee exceeding the IRS allowable amount should be reported as taxable income on the employees W-2. This dollar threshold may change; for more information see the IRS Publication 970 at: http://www.irs.gov/pub/irs-pdf/p970.pdf. 2.1 Employer Required Coursework or Degree Program Completion This policy does not apply when the College formally requests or requires, in writing, that an employee enroll in specific courses or a degree program as necessary to effectively perform the duties of their position at VCOM. In such cases, the College is responsible for covering all associated costs of the required coursework or program. The requirement must be documented in writing and submitted to the Director for Human Resources by the employee’s Direct Supervisor, Dean, and/or Division Officer, and must receive final approval from the President. ELIGIBILITY CRITERIA The budget that is allotted for educational aid is limited annually; therefore, the process for receiving educational aid may be competitive and is through an application process. The decision to approve or not approve educational aid then is twofold: the College’s need for the employee to participate in the educational program and the available College funds for the year. To be eligible for educational aid, the employee must meet all of the following criteria: • Employees must be full-time, working a minimum of 32 hours a week; • Employees must be employed for a minimum of 12 months or have as a part of their initial employment a written agreement for educational aid if prior to 12 months of employment; and • The coursework or degree program must be job-related. Employees receiving educational aid must understand that, due to potential budget constraints, they may not receive a full (or regular) merit increase to their annual salary in fiscal years that they are actively receiving the aid. In addition, the employee is not guaranteed a raise upon completion of a degree program beyond the salary range for the position in which they work. If the employee meets the eligibility criteria, they may apply for consideration to participate in the Employee Educational Aid Program. The budget to fund educational aid requests is established each fiscal year and is limited. When the number of applicants exceeds the funds available in a budgeted year, only applications that are deemed to have significant value to VCOM’s mission will be funded. 4.1 The Employee Educational Aid Initial Application To be considered for participation in the Employee Educational Aid Program, the employee must complete the Employee Educational Aid Initial Application (Appendix A) and attach the required supporting documents. Failure to submit any of the required documents will result in an incomplete application and the application will not be considered until complete. 3. 4. THE EMPLOYEE EDUCATIONAL AID INITIAL APPLICATION PROCESS

VCOM Employee Educational Aid Program Policy and Procedures

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