13 Oct

Tuition Reimbursement Loan Agreement

Staff training and educational assistance or reimbursement programs can be very costly. The value of these programs is questionable when employees are free to change jobs before the employer has reaped the benefit of their investment. In a 2-to-1 decision, the Michigan Court of Appeals approved a procedure to require it to hire the worker at a minimum period of employment after such an investment, under penalty of an obligation to reimburse the training costs to the employer. During the term of this Agreement, you agree that the [AGENCY COMPONENT] will be authorized to verify the status of each loan, including any obligations you have, and to discuss the terms and amount of the outstanding commitment with each lender/bondholder. .

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