This Agreement sets out the terms of the Limited Tuition Guarantee of Maharishi International University (“MUM”) for graduates of the Master’s in Software Development (“MSD”) class entering that degree program in August, 2020.
MUM and the Student agree as follows:
- Upon graduation from the MSD program, the graduate may apply for the University to pay on his or her behalf only the tuition costs paid or incurred for the MSD program by the graduate in which costs have been paid directly to MUM in cash or through approved Title IV Higher Education Loans, plus accrued interest, if any, on said loans.
- Should the applying graduate student fail to obtain a qualifying job offer, as defined in the attached Exhibit A, and fulfill the Job Search Requirements set out in Exhibit A, the University shall remit to the graduate the cash directly paid to MUM within 30 days of approval of the application.
- For graduates who have incurred approved loan obligations to the Title IV authorities for the MSD program, and fail to obtain a qualifying job offer, as defined in the attached Exhibit A, and fulfill the Job Search Requirements set out in Exhibit A, MUM agrees to make payments for their benefit to those lending authorities or designated Title IV lender(s) (“Title IV”) which will satisfy in full the tuition charges plus interest accrued thereon. Said payments shall be timely made in a manner, in the discretion of MUM, which fulfills the tuition loan obligations at that time of the graduate and the payment terms of the Title IV loan.
- MUM shall have no further obligations to the graduate or to Title IV with regard to any matter concerning the graduate or his study at MUM, including the payment of any other charges including: loan origination fees, room and board charges, personal expenses, class materials, interest, penalties, late fees, assessments, or taxes.
- The graduate understands that he or she is not relieved of their contractual obligation to Title IV for the payment of any loans or other items and MUM does not and cannot directly assume those obligations of the graduate to Title IV notwithstanding MUM’s agreement to tender the tuition loan amount and incurred interest to Title IV as set out above for the benefit of the graduate.
- To receive the benefit of this limited guarantee, I agree that I will submit a request for a tuition benefit to the University via email to email@example.com no later than 13 months after my last day of class setting forth the following: my full name and contact information (address, phone number, email address); and certifying that I:
- Successfully completed the Master’s in Software Development program;
- Met all job search requirements (and any other applicable requirements) as noted on Exhibit A;
- Was unable to obtain a qualifying job offer within 12 months of my last day of class as noted on Exhibit A; and
- am entitled to the limited guarantee as described above.
- The University will review my request and may seek from me further information and verification relating to my request, which I must provide within 10 business days of the University’s request for information. If the University determines that I am entitled to the tuition benefit under the Terms of this Agreement, the benefit will be processed within 60 days of this determination and paid according to its terms.
- The University may decide to deliver any documents or notices by electronic means. I agree to receive such documents or notices by electronic delivery and to participate through an online or electronic system established and maintained by the University or a third party designated by the University.
1) Qualifying Job Offer Definition
A qualifying job offer is:
- A position as an employee, apprentice, or contractor
- $4,167 per month gross before tax and withholdings or higher (annual rate of $50,000/year)
- At least 75 days in duration (not necessarily consecutively)
- In the field of software development or working with code
2) Job-Search Requirements
To remain eligible for tuition refund during the 12-month job search period, I must be actively job seeking and meet all the following job search requirements for 12 months following my last day of class:
- Begin my job search within three weeks of my last day of class;
- Be responsive to communications from the University Career Services team, including but not limited to Career Coaching and Business Development, within three business days (or within reason accounting for unforeseen or extenuating circumstances);
- Complete two mock interviews with my Career Coach or other representative of the University;
- Be available, if invited, to interview for a minimum of three interviews per week;
- On a weekly basis, update my job-search tracking report with a written summary of job-seeking activities;
- Spend at least 35 hours/week on applications, interviews, and other job-search activities approved by the University Career Strategies Department. Keep a journal of such activities;
- Submit responses to any code-challenges associated with any job application on time or within one week of receipt if due date is not specified;
- Upon request by the University, provide evidence of attending all scheduled interviews;
- Post at least 5 GitHub commits per week to my public GitHub profile;
- Post at least 1 technical blog post per week on a public URL that can be verified by the University;
- Email my Career Coach within one business day of receipt of any job offer, including the date of the job offer, name and address of the entity extending the offer, and the title and compensation rate of the position being offered;
- Be willing to work in-person within a reasonable commuting distance from the main work or residence address from which I am job-seeking, and be willing to work remotely; and
- Have not received and accepted an offer for any paid full-time job (an average of 30 hours or more per week) or two (2) or more part-time jobs aggregating an average of 30 hours or more per week) as an employee, apprentice, intern or independent contractor during my job search.
It is my sole responsibility to keep track of all job search required activities. The University recommends that I keep a written log of my activities, backup all data, and make copies of relevant documentation. The University may, at any time during the 12-month job-search period following my completion of the Master’s in Software Development, verify that I am fulfilling the job search requirements and ask me for proof of such fulfillment. Failure to present proof of fulfillment of the job search requirements may result in forfeiture of eligibility for a tuition refund.
4) Termination of Eligibility for Refund
My eligibility for the tuition refund will terminate upon the earlier of: (i) receiving a qualifying job offer (as defined in this agreement); (ii) failure to meet the job search requirements specified above; or (iii) withdrawing, failing, or not graduating from the MSD program on-time for any other reason, including health-based or family emergency reasons.
5) Dispute Resolution
If there is any dispute between the parties, it is agreed to be tendered for resolution through third-party neutral mediation, and if unsuccessful, through binding arbitration.
6) Review of My Tax Returns
For the tax year that I graduate and any following tax years in which I have eligibility for this tuition refund, I agree, no later than April 15 of the following year, either (a) to file my U.S. federal income tax returns or (b) to notify the University of any extension I seek for filing federal income tax returns. Moreover, if the University requests, I agree to complete, sign, and provide to the University IRS Form 4506-T or Form 4506T-EZ (or any successor form), designating the University as the recipient of my tax return information for returns covering any and all months of my Payment Period, within thirty (30) days of the University’s request. I agree to perform any similar requirements or procedures for any other applicable country’s taxing authority.