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VOM institute Loan Forgiveness
Upon completion of the virtual organization leadership master designation program, VOM Institute 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.
Loan Forgiveness Criteria
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, 20% of your original debt will be forgiven.
- Volunteer Activities. Participate in volunteer activities with VOM Institute-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 VOM Institute Financial Aid approval, provide Business English tutoring to VOM Institute international students and receive up to $5000 of debt cancellation.
- Teaching at Virtual Organization Management Institute. Master Designation Program graduates who are offered :: and do accept teaching employment at VOM Institute :: receive a 50% discount from the original loan amount during a minimum 2-year term of employment at VOMI. As well, after 6 months of teaching, VOM Institute has the sole option — however, it is not obligated — to cancel the entire student debt based on teaching performance. Otherwise, VOM Institute will cancel a student debt based on the following years of service: Year 1 – 15% of original loan amount; Year 2 – 35% of original loan amount; Year 3 – 50% of original loan amount.
- Teaching in Public Schools. Master Designation Program students who become full-time teachers at a public elementary or secondary school immediately after :: but no later than 1 full year from :: graduation at VOM Institute, will 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 official verification by VOM Institute-approved doctors.
- VOM Institute Extra-Curricular Activities. Participation in VOM Institute-sponsored and approved extra-curricular activities may result in the forgiveness of up to 50% of the original loan amount.
- Chairman’s Award of Excellence. Each recipient of the Chairman’s Award of Excellence for outstanding contribution to VOM Institute during the term of the Master Designation Program, as well as for conduct above and beyond the call of duty, will receive a cancellation of 100% of the original loan, regardless of financial needs or repayment abilities.
- Proceed to VOM INSTITUTE ADMISSION PROCESS
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