All full-time employees (72 to 80 hours per pay period) can receive prepayment up to nine credit hours per quarter. Starting January 2008, part-time employees (40 to 70 hours per pay period) can receive prepayment up to six credit hours per quarter. New employees must complete six months employment prior to requesting prepay tuition. Books and fees are not included in the prepayment cost.
A copy of the letter of acceptance from the Rush University must be turned into the LEAP office at the beginning of the LEAP prepay assistance. The LEAP paperwork must be turned into the LEAP office two weeks before the start of each quarter. A letter of explanation must be turned into the LEAP office if paperwork is being submitted after this deadline. Students will need to submit their grades to the LEAP office at the end of every quarter and notification of completion of the degree program must be turned into the LEAP office.
Prepay tuition, by government regulations, is considered additional income. All degree level course work is nontaxable up to $5,250 per calendar year (January through December), any amount over $5,250 is taxable income and payments of this additional tax are the responsibility of the employee receiving the benefit of prepaid tuition by Rush University Medical Center. It is the responsibility of Rush University Medical Center, at the end of each quarter, to withhold taxes based on this Federal tax law, Section 127.