Employer Tuition Deferment Plan
The Employer Tuition Reimbursement Plan allows students that are employed by a company that offers tuition reimbursement an opportunity to defer the reimbursable portion of their tuition until 45 days after grades are posted. All requirements for the plan must be met by the end of the add/drop period each semester. No exceptions will be made for requirements that are not met by the deadline each semester. Please direct all documents and inquiries related to the deferment plan to email@example.com
- Student must turn in a letter from their employer stating student eligibility for tuition reimbursement by company. The letter can be mailed, faxed, or e-mailed to the Student Accounting Office. Letter requirements are as follows:
- Letter must be dated on letterhead
- Letter must state the full terms of the company tuition reimbursement including the percentage covered, maximums per year, and coverage (i.e tuition only or tuition and fees)
- Approximate time frame in which your employer will make the payment for reimbursement (no later than 45 days after grades are posted).
- Student must complete the Employer Tuition Deferment Plan application. The application should be submitted electronically.
- A $55.00 non-refundable Employer Tuition Deferment Plan fee (payable by cash or check or online to your student account) must be paid.
- Unpaid/defaulted Employer Tuition Deferment Plan from a previous semester
- One or more requirements listed above was not completed/recieved by the end of the add/drop period.
- Students receiving Financial Aid awards that pay their account balance in full
- The eligible amount of deferred tuition is based on the employer reimbursement eligibility and any combination of Financial Aid awards received.
- Students cannot defer their tuition and expect to receive a refund for aid disbursed to their account as the total amount of Financial Aid disbursed, and deferred tuition cannot exceed the total amount of tuition and fees assessed for the semester in which deferment is applied.
Out-of-pocket payments are due in full by the end of the add/drop period each semester. Unpaid balances will be subject to late fees each month. The Employer Tuition Deferment Plan is a benefit to students, and IIT reserves the right to discontinue this plan at any time.
Statement of Financial Responsibility
By applying for IIT's Tuition Employer Tuition Deferment Plan students recognize that their employer's tuition reimbursement plan has qualifying conditions which they must meet in order to be reimbursed. Should your company refuse to pay this bill within the usual time frame for tuition deferment, you the student will be personally responsible for this tuition and will be required to pay the bill in full. Students should also understand that a deferred payment fee of $55.00 will be due at the time of application, and it is non-refundable. If the tuition due under this agreement is not paid within 45 days following grades being posted, the student authorizes their employer to withhold the amount due from their pay and to pay that amount to Illinois Institute of Technology.
Students must understand that any amount not covered by the terms of their company’s tuition reimbursement policy is due in full by the end of the add/drop period and is subject to fees and a hold preventing registration for the next term. If a student fails to meet the requirements to be eligible for IIT’s Employer Tuition Deferment Plan by the deadline, their tuition will not be deferred and will be due.