Did You Hear the Great News? Implementing New Loan Relief Benefits - Student Debt Direct Pay Policy In July 2022, Vinfen implemented a new benefit for licensed medical, nursing, social work, and counseling professionals to help pay down their (often significant) student loan debt. The new Student Debt Direct Pay Policy offers up to $100 per month in direct student loan relief to qualified staff who hold certain positions and professional licensures. This significant investment provides relief for professional job types that often require a costly degree or certification to move into.
Eligible employees are scheduled to work at least 30 hours per week, have an hourly pay rate of less than $48.08 per hour, and are in an eligible position such as a Clinician, Registered Nurse, Licensed Practicing Nurse, or other eligible job type. Learn more about the eligibility requirements by going to the Benefits page on SharePoint
For questions about the program or how to enroll for the benefit, email Benefits@Vinfen.org.
Increasing the Tuition Reimbursement
This year Vinfen is increasing the tuition reimbursement amount offered to employees and reducing the waiting period for new employees to access the benefit. Previously, Vinfen provided up to $1,600 per semester in direct tuition reimbursement for staff pursuing a degree or certification through the Professional Development Program. During this time, employees were only eligible if they worked at least 30 hours per week and had been employed for at least one year before program applications were due.
Starting in 2023, Vinfen will increase the tuition reimbursement benefit to $2,000 per semester, whereby eligible employees will receive up to $6,000 a year to pay for their education costs. Vinfen has also made participation easier by reducing the waiting period to only 6 months of previous employment. Education costs increase regularly, and with this increase in reimbursement monies, Vinfen hopes to better support our staff’s education goals. Since its inception, more than a decade ago, the Professional Development Fund has awarded more than $1 million in tuition reimbursement to employees.
English as a Second Language classes are now eligible for relief through the Professional Development Fund. ESL classes taken through an accredited education institution are eligible for relief up to $1,000 per course. By expanding the Professional Development Fund, we hope that many more people will find education more accessible and affordable.
To learn more about the program or how to apply, email TuitionBenefits@Vinfen.org.
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