Rumor is that people are being offered a bonus to stay to the end of the teach out, but from what I've heard at this point it's no more than the severance being given as normal, can anyone confirm this?
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retention bonuses being offered one week for every year of employment to stay until the end
Why is it that people say read SEC when they have not actually read the documents?
The department's goal in authorizing the release of more funds is to ensure that teach-outs occur. So these payments would make sense.
"Additionally, bonuses, severance payments, raises and retention agreements being considered shall be discussed with the Monitor and reported to the Department at least two weeks prior to the creation of contractual obligations and payment and subject to the approval of the Department."
Read the SEC, it clearly states no bonuses or severance is to be used with federal funds
Teach out bonus is common
It's not severance, but rather an enticement to make sure the last student is taught.
Seriously? People are getting severance?
$10,000.