Other Information
Definitions
Dependent Child is a child of an employee, under 26 years of age and dependent for support on the full-time continuing employee. Age restriction of 26 years does not apply to a physically or mentally disabled dependent in which this condition existed before age 26 years. The following dependents are eligible for tuition reimbursement:
- Children of the employee
- Stepchildren of the employee
- Adopted children of the employee
Program of study means a program of study leading to a first undergraduate degree and which does not require prior undergraduate preparation.
Policy
PWT Corporation offers financial assistance for the education of dependent children of eligible employees. Pacific Woodtech Corporation shall establish annually a fixed sum of money available for such scholarships. Should the eligible applications for scholarship exceed the funds available under this program, then the Scholarship Committee will establish and apply selection criteria to award the scholarships.
For the dependent children of employees who are pursuing a full-time post-secondary program of study, this benefit takes effect with the first full school year after the continuing full-time employee has completed one year of service with PWT Corporation.
Upon request, an employee must produce any supporting documentation requested by the company to show that the dependent child meets the criteria set forth in this program.
Benefit Amount
If approved for admission to a post-secondary institution, dependent children of full-time employees may apply for a scholarship award. Dependent children of staff are eligible to receive a tuition scholarship valued at up to $1,500 per school year. Eligible schools include Universities, Colleges (including community colleges) and Technical Trade Institutes. The scholarship is available for a maximum of four years. The value of the scholarship does not change in instances where the student is the dependent of more than one employee. The employee must have been accepted to and enrolled in the post secondary institution. The scholarship does not apply to dependent children who study on a part-time basis.