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VOMI EDUCATION|     Financial Aid

 

VOMI Loan Forgiveness Program

Upon completion of program, VOMI Financial Aid may forgive all or part of a student's loan based on needs, qualifications, and an estimate of student's potential earnings after graduation.

The amount of such award depends on one or more of the following criteria:

  • Academic Excellence.   If you graduate in the Top 5% of your class, up to 20% of your debt can be forgiven.
  • Volunteer Activities.   Participate in volunteer activities with VOMI-approved, private, self-empowering and non-profit organizations that are focused on Human Evolution.

    Provide 200 hours of satisfactory service and receive $5000 of debt cancellation.
  • Tutoring.   Subject to qualification and VOMI Financial Aid approval, provide Business English tutoring to VOMI international students and receive up to $1200 of debt cancellation.
  • Teaching at VOMI.   Master Designation Program graduates who are offered and accept teaching employment at VOMI receive a retroactive 0% interest rate on their student loan during their term of employment at VOMI. As well, after 6 months of teaching, VOMI has the sole option--however, it is not obligated--to cancel the entire student debt based on teaching performance, total financial burden, total earnings and repayment ability. Otherwise, it will cancel a student debt based on the following years of service: Year 1 - 15% of loan; Year 2 - 30% of loan; Year 3 - 55% of loan
  • Teaching in Public Schools.   Master Designation Program students who become full-time teachers in a public elementary or secondary school immediately after--but no later than 1 full year from--graduation receive the following debt cancellation based on the following years of teaching service:

    • Year 1.   25% of loan forgiven
    • Year 2.   35% of loan forgiven
    • Year 3.   40% of loan forgiven
  • Death.   In the event of your untimely passing, 100% of your remaining debt is forgiven, subject to receipt of official copy of death certificate.
  • Disability.   If you become totally and permanently disabled, 100% of your remaining debt is forgiven, subject to verification.
  • VOMI Extra-Curricular Activities.   Participation in VOMI-sponsored and approved extra-curricular activities may result in up to 50% of loan forgiven.
  • Chairman's Award of Excellence.   Each recipient of the Chairman's Award of Excellence for outstanding contribution to VOMI, as well as for conduct above and beyond the call of duty, will receive 100% loan cancellation, regardless of financial needs or repayment abilities.

 

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