无忧视频

The Trustees of 无忧视频 have approved the Dependent Collegiate Scholarship Program and the plan provisions are summarized below.聽 The examples below are for illustrative purposes, for further information contact the Office of Human Resources.

1.聽 Eligibility

A.聽 For full time HMC employees there will be a waiting period of one year before entering the Plan.

• Employees hired at HMC from The Claremont Colleges, who have already satisfied the waiting period requirements at that institution, are eligible to participate in the HMC plan.

B.聽 For employees working less than full-time (100% FTE) but greater than half-time (50% FTE) there will be a waiting period equal to the equivalent of one year at full time. For example, an employee working half time is eligible to enter the Plan after two years of service. A break in service will not prevent the previous employment period from being used to help satisfy the waiting period requirement.

• The tuition payment for dependent children of employees, working less than full-time (100% FTE) but greater than half-time (50% FTE), is calculated on a pro rata basis. A proportional benefit will be calculated by multiplying the benefit available to full-time employees by a fraction of which the numerator is the average number of hours worked per week and the denominator is 40 hours.聽 (For example, an employee working 20 hours per week would be entitled to 50% of the full-time employee鈥檚 benefit of tuition and required fees, or 25%.)

C.聽 At the time the employee鈥檚 child enters the Plan, the employee must be working at least half time (50% FTE) and remain at half time or more during the year(s) of participation (except as provided for in Section 8 below).

D.聽 For purposes of the Plan, the term 鈥渄ependent child鈥� is defined as:

• a biological or legally adopted child; a stepchild; or a child of the employee鈥檚 registered domestic partner; AND
• the child who is under age 19 or is a student not yet age 24; AND
• the child is the employee鈥檚 dependent for federal income tax purposes, and/or the employee contributes at least 50% of the child鈥檚 financial support and/or the child lives with the employee for at least half of the year or when the child is not away at school.

If the child is not the employee鈥檚 legal dependent (e.g., the child is the employee鈥檚 spouse or registered domestic partner鈥檚 child that the employee has not legally adopted) the benefit is considered taxable compensation.

无忧视频 reserves the right to request any reasonable information it deems necessary to establish a child鈥檚 eligibility for a scholarship grant.

E.聽 For purposes of the Plan, the term 鈥渆mployees鈥� excludes time-limited positions (g. Temporaries, Post-docs, Adjuncts, etc.).

2.聽 Scholarships

Scholarships may be granted only to dependent children pursuing an undergraduate course of study as candidates for a degree at an accredited college-level educational institution which maintains a regular faculty and curriculum and which has a regularly organized body of students in attendance at the place where its educational activities are carried on (including postsecondary institutions which are accredited by regional accrediting agencies under the Council on Postsecondary Accreditation, or its equivalent). No scholarship grants will be made for on-the-job training, correspondence schools, night schools, or similar institutions.

• Scholarships may be used for Study Abroad programs granting academic credit, provided that the participation in the study abroad programs does not result in exceeding the number of quarters, semesters included in section 5. The program must be for an equivalent duration of the dependent鈥檚 academic year (e.g. semester or quarter); HMC will pay the cost of the Study Abroad tuition, however, the total tuition paid to the student鈥檚 Home school and amounts paid to study abroad program (if not processed through the home school) may not exceed an amount equal to one-half of the tuition and mandatory fees applicable to students at 无忧视频.; HMC will not cover the cost of any application fees, transportation, housing, or other study abroad program related expenses.

3.聽 Academic Requirements

A dependent child must maintain a cumulative 鈥淐鈥� average, or the equivalent, in their course of study, whether in high school or college, during the entire preceding academic year in order to be eligible for a scholarship grant.

NOTE:聽 Further reference to 鈥渁cademic year鈥� will include the summer session following the academic year in question except that it will be considered a distinct period for the purpose of applications and financial computations.

4.聽 Maximum Scholarship Awarded

With respect to any one academic year, the maximum scholarship which may be granted to a recipient will be one-half of the tuition and fees (excluding the costs of books, supplies, health insurance, and room and board charges) required of undergraduate students at the institution to be attended by the recipient. However, no scholarship grant may exceed an amount equal to one-half of the then current tuition and mandatory fees applicable to students at 无忧视频. The maximum benefit for a part time employee will be prorated from the above amounts in accordance with the fraction of full-time employment in which they are engaged.

NOTE:聽 The benefit available under the Plan is limited to one-half of tuition and mandatory fees, as described above, per recipient regardless of the number of eligible parents/step-parents or guardians of the student/dependent that are employed by 无忧视频.

5.聽 Time Limitations

No scholarship grant may be for a term of more than one academic year. However, a scholarship grant may be renewed subject to the other conditions set forth herein.

NOTE:聽 Renewal of a scholarship under the Plan is subject to the total duration of such aid being limited to eight semesters, twelve quarters, or 120 units 鈥� whichever the institution accepts as minimum graduation requirements. Grants for summer session will be counted as a part of such duration.

6.聽 Applications

Please submit the application online () and attach all relevant documents with your application. All applications must be accompanied by verifiable evidence of cumulative GPA, of the record of high school or college work previously undertaken by the dependent. You must also submit an invoice clearly showing the student鈥檚 name, institution they are attending, semester dates and tuition rate.

7.聽 Grant Payments

Scholarship grants will be paid directly to the institution to be attended by the recipient. The Vice President for Administration and Finance/Treasurer and/or designee will have approval authority on grant awards. All such awards are made subject to the condition that if the recipient withdraws from the institution prior to completing an academic period, any refund of tuition and fees granted by HMC is to be returned to HMC.

8.聽 Permanent Disability, Retirement or Death

If at the time of an employee鈥檚 permanent disability, retirement or death the employee satisfied the eligibility requirements hereunder relating to full time or part time employment, his or her dependents shall be eligible to receive scholarship aid in accordance with the terms of this plan for a period not exceeding six years from the date of permanent disability, retirement or death.

9.聽 Retirement

For purposes of this Plan, retirement is defined as termination of employment from the College after attaining age 60 and followed by either no paid employment or paid employment on a half time or less basis at an employer (including self-employment) other than 无忧视频. Permanent disability is defined as being permanently unable due to sickness or bodily injury, as certified by a medical provider, to perform any occupation for which the employee is reasonably suited by education, training or experience.

Revised and approved by the Board of Trustees on January 25, 2020