• Four faculty members recognized for outstanding teaching
• Fourteen new faculty members appointed
• Eight faculty members transfer to emeritus status
• Seven selected for endowed chairs
• Promotions, resignations
Research and teaching
• Princeton awarded $2.2 million for biology education
• Institute fosters partnerships to help region
• Tiny transmitters allow researchers to follow flies
• Ward unravels bacteria’s role in global nitrogen cycle
• Suburbia a rich source of scholarship for Princeton historian
• Princeton scientists explore the next frontier of stem cell research
Tuition grant increased for children
Princeton NJ — The University’s Benefits Committee has reviewed the Children’s Educational Assistance Plan and has increased the amount of the annual tuition grant for the 2006-07 academic year.
The Tuition Grant Program provides assistance for an eligible employee’s child who is pursuing undergraduate study at an accredited two- or four-year college. For 2006-07, the University will provide a maximum annual tuition grant of one-half tuition and mandatory educational fees up to $11,360 ($5,680 per semester or $3,786 per trimester or quarter), an increase from last year’s maximum grant of $10,830.
Employees are advised that Congress recently has changed the definition of dependent under the Internal Revenue Code. Under the new definition, a qualifying dependent is a child who has not reached age 19 by the end of the calendar year or is a full-time student who has not reached age 24 by the end of the calendar year. Effective July 1, 2006, Princeton will no longer be able to provide a tuition grant to any child who attains age 24 within the calendar year.
The University will grandfather any child participating in the program as of June 30, 2006. Employees with a child grandfathered under the program will be required to make payments directly to their child’s college or university. Princeton will pay the grant to employees directly through payroll. This grant is taxable income to employees and will be paid as compensation subject to withholding. This supplemental compensation will not change employees’ base salary; benefits will continue to be calculated on their regular base salary.
For more detailed information or to print a tuition grant application, go to the Office of Human Resources Web site at www.princeton.edu/hr/ben/edasst.htm, or contact human resources at 258-3300 or email@example.com.
Employees also are reminded that the University terminated the Supplemental Loan Program effective June 30, 2004, except for children currently receiving loans who are grandfathered under the program. The continued eligibility of the children grandfathered under the program is governed by the plan rules in effect in 2004. Children not covered under the plan as of June 30, 2004, are not eligible for supplemental loans. The interest rate for the Supplemental Loan Program will remain at 7.25 percent for 2006-07.
All requests for supplemental loans will be processed by the loans and receivables department in the treasurer’s office. To request information about an existing supplemental loan, contact loans and receivables at 258-7220 or <firstname.lastname@example.org>.