The College offers a tuition subsidy benefit of up to 38.1 percent of Colby’s comprehensive fee for dependent children of continuing, full-time employees who have been employed at Colby for six continuous years.
Benefits are earned on the basis of one year of benefit for each year of service and is payable for tuition only. Room and board and fees are not eligible expenses. Tuition benefits paid on behalf of any one eligible child may not exceed the equivalent of two semesters, three trimesters, or three quarters in a fiscal year. Benefits are payable up to four academic years for a maximum of eight semesters or twelve quarters to any one dependent and are intended for undergraduate instruction only at any regionally accredited institution. Note summer terms will count as one of the semesters or quarters.
Employees should check with the dependent’s institution to understand how this benefit is factored into a financial aid package.
The dependent tuition subsidy for 2017-18 is payable up to $25,443 ($12,721.50 per semester or $8,481 per trimester/quarter).
Applications for dependent tuition subsidy need to be submitted each quarter or semester that an employee is requesting a tuition subsidy payment. Applications along with a copy of the dependent’s detailed student statement or bill should be submitted to the Office of Human Resources prior to or during the attending term. Payments will be made directly to the college or university.
Employees using the subsidy must notify Human Resources if an eligible child, on whose behalf benefits are claimed, withdraws before or during the quarter or semester for which the tuition is paid, and must return to the College any refund paid by the qualified institution.