Hood College Educational Benefits For Employees
Summary of Benefits

A summary of the Hood College Educational Benefit (the “Benefit”) and certain tax implications follows. The Benefit applies to tuition only; it does not apply to fees, supplemental costs, class and lab fees, books, room and board, or other incidental expenses incurred by the employee or any student receiving the Benefit by virtue of the employee’s employment with Hood College.

See Hood College Employee Handbook, Section 722 – Educational Benefits here (under "policies" -> "Educational Benefits"). The amount of the Benefit for any given employee shall be equal to the educational costs that would otherwise be incurred by the employee at the College (for himself or herself, or for any category of individual listed below), multiplied by a percentage that is equal to the employee’s full-time equivalency percentage.


Payment of all fees not covered by the Benefit is subject to Hood College’s payment and late fees policies

EDUCATIONAL BENEFITS FOR EMPLOYEES


The Benefit allows the following individuals to attend Hood College, pursuant to the following guidelines and limitations:


  1. Employees:
    • Undergraduate courses
      • Tuition is tax-free
    • Graduate courses
      • Tuition is tax-free up to $5,250; all amounts thereafter are taxable income.
  2. Graduate Research Assistants:
    • Graduate courses
      • Tuition is tax-free
  3. Spouses:
    • Undergraduate courses
      • Tuition is tax-free
    • Graduate courses
      • Tuition is taxable income
  4. Children (including by birth or adoption), Step-Children, and Foster Children
    • Undergraduate courses
      • Tuition is tax-free
    • Graduate courses
      • Tuition is taxable income

Taxable income related to the Benefit is calculated and reflected in compensation through-out the year. FICA/Medicare is withheld on all taxable amounts. All taxable income related to the Benefit received by an employee in a single calendar year will be reflected on the employee’s Form W-2 for such year. The determination of an employee’s federal and state tax liability are the responsibility of the employee. Please consult with your personal tax advisor.

Hood College Educational Benefits For Employees
Eligibility Form and Certification

Semester

(Ex: Spring)

(Ex: 2023)

Please note that application for educational benefits must be made in each semester for which they are requested.

Employee Information





In the employee portal, navigate to Myself/Personal, click Employee summary, look for "Last hired"

i.e.: 1.00

In the employee portal, navigate to Myself/Job, click Job summary, look for "FTE"


Student Information




Including winter(s) & summer(s)

I certify that

,
[Dependent Child Name]

is eligible for this benefit as my dependent child in accordance with IRS regulations. According to the IRS, a dependent child must be under age 24 at the end of the tax year if they are a full-time student. I further certify that they were claimed by me as a dependent on my most recent Federal income tax return, or would have been eligible to be claimed by me as a dependent if not otherwise claimed by the child’s other parent, and that they will so qualify to be claimed by me as a dependent (or would so qualify, if not claimed by the child’s other parent) for the time period that is covered by the semester for which tuition benefits are requested. I have read and understand the information regarding the taxation of educational benefits at the beginning of this form.




I understand that Hood College (the “College”) reserves the right to request appropriate proof of the relationship between me and any student receiving educational benefits by virtue of my employment with the College, including but not limited to proof of marital status; proof that the recipient qualifies as a dependent child in accordance with IRS regulations (see IRS Publication 501, Exemptions, Standard Deduction, and Filing Information).

I understand that educational benefits are subject to the availability of space; that any educational benefits granted will be revoked if my employment is terminated (whether by me or the College); and that reapplication for educational benefits must be made in each semester for which they are requested, in accordance with College policy.

I understand that I am not eligible for this benefit until I have completed my 90-day introductory employment period in a benefit eligible position. In the event that my employment with the College ends, I agree full restitution will be made to the College for any tuition owed due to the cessation of educational benefits.


[The section below should be completed for any dependent child receiving educational benefits. If not applicable, ignore the next paragraph/section.]

Tax implications acknowledgement:
Staff Manual

Contact Information