Job Loss Clause Sample Clauses

Job Loss Clause. Any family that experiences an unforeseen job loss, which results in an immediate loss of 50 percent or more of total family income, shall be eligible for a 50 percent reduction in tuition for a period not to exceed 120 days following the termination. Any intention in using the Job Loss Clause must be submitted in writing to the Business Office along with proof of annual family income and separation notice from employee explaining terms of separation. Any and all funds received while unemployed, including but not limited to unemployment compensation and severance pay, must be disclosed to the Business Office. The Job Loss Clause will then become active under the original terms. To be considered for this provision, your account must be paid current with no outstanding balance and must have a history of timely payments. _ (initial required). .