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Educational Indebtedness Assistance

GC WP N 25 05; N 25 15; N 25 30; N 45 05

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Types of Assistance

• General Educational Indebtedness• Reimbursement of Doctoral Degree

Expenses• Advanced Degree Indebtedness for

Nurses• Existing Service Indebtedness

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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

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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

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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.

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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

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Securing the Benefit

2. NAD-basedHappens as part of financial clearance process.

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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

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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

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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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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)

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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.

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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

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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

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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.

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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

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Securing the Benefit

2. NAD-basedHappens as part of financial clearance process.

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Distributing the benefit

• Monthly payments sent directly to loan company.

• Payments start after confirmation of arrival infield

• Interest payments require monthly statement

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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.

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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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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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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.