Interest-free Loans. The District shall provide, upon application, interest-free loans for tuition for approved course work leading toward a Master’s degree, approved course work, or to gain an endorsement. A maximum of $5000 per applicant may be requested annually. The District shall pay the university or college directly. Repayment of such loans shall be made over the remainder of the contract year through payroll deduction.
Interest-free Loans. 1. The employee must complete Part 1-A and Part 1-B of the Request for Interest- Free Loan section of the Education Assistance Request (form D-3075). The form must be forwarded to the Manager for endorsement/support (part 2 must be completed by the manager). The manager must indicate reasons for supporting the application based on the employee’s career development needs and job performance.
Interest-free Loans. Employees may secure an interest-free loan against his/her current annualized wages for the purpose of pursuing additional undergraduate/graduate study. Employees must submit evidence with the loan application that he/she is registered for undergraduate/graduate study in a regionally accredited institution of higher education to be eligible to receive an interest-free loan. A maximum of five percent (5%) of the employee's annualized wages may be owed at any one time. Such advances may be made only during the period when the employee is actively employed and shall be limited to two such advances during a budget year. The total amount advanced shall be repaid by equal wage/salary deductions over the balance of the budget year in which the loan occurs. Upon discontinuation of active employment, any unpaid portion of a loan shall become immediately due and payable, and shall be deducted in full from his/her pay.
Interest-free Loans. New employees in those job classifications receiving a car allowance will be made aware of the option of securing a no-interest loan of up to $1,999.00 through the Employer for the sole purpose of acquiring a vehicle.
Interest-free Loans. An ASA member may secure an interest-free loan against their current base salary for the purpose of pursuing additional graduate study. ASA members must submit evidence with the loan application that they are registered for graduate study in a regionally accredited institution of higher education to be eligible to receive an interest-free loan. A maximum of five percent (5%) of the ASA member’s base salary may be owed at any one time. Such advances shall be made only during the period when the ASA member is actively employed and shall be limited to two such advances during a fiscal year. The total amount advanced shall be repaid by equal salary deductions over the balance of the fiscal year in which the loan occurs. Upon termination of employment, any unpaid portion of a loan will be deducted in full from the ASA member’s final paycheck.
