flint Posted August 23, 2006 Share Posted August 23, 2006 wondering how the process of the edu. buyouts work. Do you receive monthly checks, or one lump payment once a year for your half pay? How about the tuition check? Is it a lump payment? Also when this was offered, did Ford include some type of directions or instructions on how this option will work for the next 4 years? If anyone has any details on this please help me out-thanks! :shrug: oh and how much time between the time Ford offered you this and the time you have to leave is it?? Quote Link to comment Share on other sites More sharing options...
PimpDaddy Posted August 23, 2006 Share Posted August 23, 2006 wondering how the process of the edu. buyouts work. Do you receive monthly checks, or one lump payment once a year for your half pay? How about the tuition check? Is it a lump payment? Also when this was offered, did Ford include some type of directions or instructions on how this option will work for the next 4 years? If anyone has any details on this please help me out-thanks! :shrug: oh and how much time between the time Ford offered you this and the time you have to leave is it?? One stipend check per year. 1st one about a month after seperation, then around the anniversary of seperation for the remaining 3 years. No tution check, you get voucher to take to your school and school will bill Ford directly. Program info available on myuawford.com along with phone #'s and email addresses to get questions answered and problems resolved. From the time I filled out initial interest paperwork to seperation was about 5 weeks. That was my local, your local affects whether and when you leave. A lot of locals are resisting because it will hurt their financial bottom line and affect their Vegas, Black Lake, D.C., ect. ect. travel/party funds. Good Luck! Quote Link to comment Share on other sites More sharing options...
chkchka Posted August 23, 2006 Share Posted August 23, 2006 One stipend check per year. 1st one about a month after seperation, then around the anniversary of seperation for the remaining 3 years. No tution check, you get voucher to take to your school and school will bill Ford directly. Program info available on myuawford.com along with phone #'s and email addresses to get questions answered and problems resolved. From the time I filled out initial interest paperwork to seperation was about 5 weeks. That was my local, your local affects whether and when you leave. A lot of locals are resisting because it will hurt their financial bottom line and affect their Vegas, Black Lake, D.C., ect. ect. travel/party funds. Good Luck! I've heard that they have some pretty strict rules on the education buyout. If you don't maintain a certain GPA or if you miss too many classes/fail/drop you could lose the buyout. Quote Link to comment Share on other sites More sharing options...
SalinePlastic Posted August 23, 2006 Share Posted August 23, 2006 I've heard that they have some pretty strict rules on the education buyout. If you don't maintain a certain GPA or if you miss too many classes/fail/drop you could lose the buyout. have to maintain C avg. have to re up each year and take a full course load.....about 12 credits Quote Link to comment Share on other sites More sharing options...
flint Posted August 24, 2006 Author Share Posted August 24, 2006 Thanks! I'll have to check into it. Any idea what the check from Ford for half your pay is? I wonder if they cut this lump size check, how hard it gets taxed. I'm guessing maybe $20,000 or less? I just want to be ready if this option comes my way. I've got 6.5 years in, a wife and kids and I fear for any of us in this senority range how long we will be at Ford. So I figure why not try to start a new career. Quote Link to comment Share on other sites More sharing options...
Fordwife Posted August 24, 2006 Share Posted August 24, 2006 I posted the same questions recently about the education buyout. Here's a link to my post http://www.blueovalforums.com/forums/index...?showtopic=5475. It's on page 6 if you can't get the link to work. Hope this helps you. My husband and I have many questions just like you do. Hopefully when the buyouts are offered we will get more information on this package. My husband is wondering if he can take another job while he's attending school? Quote Link to comment Share on other sites More sharing options...
appraiser Posted August 24, 2006 Share Posted August 24, 2006 I posted the same questions recently about the education buyout. Here's a link to my post http://www.blueovalforums.com/forums/index...?showtopic=5475. It's on page 6 if you can't get the link to work. Hope this helps you. My husband and I have many questions just like you do. Hopefully when the buyouts are offered we will get more information on this package. My husband is wondering if he can take another job while he's attending school? Yes you can take another job while you are going to school as long as you are taking 12 credit hours a semester. Thanks! I'll have to check into it. Any idea what the check from Ford for half your pay is? I wonder if they cut this lump size check, how hard it gets taxed. I'm guessing maybe $20,000 or less? I just want to be ready if this option comes my way. I've got 6.5 years in, a wife and kids and I fear for any of us in this senority range how long we will be at Ford. So I figure why not try to start a new career. My check I received in April of this year was around $16,600. I have to reapply for the stipend every April which was my seperation date. Quote Link to comment Share on other sites More sharing options...
onmyway Posted September 3, 2006 Share Posted September 3, 2006 Yes you can take another job while you are going to school as long as you are taking 12 credit hours a semester.My check I received in April of this year was around $16,600. I have to reapply for the stipend every April which was my seperation date. To appraiser: a quick ???? if you get a chance, or I will direct this ? to anyone who knows. What was your seperation date? You said you received your check in April, but that your seperation date is April also, just wondering because if it was a full year check would it have been more, or are they going from April to April? Also is 12 credit hours considered full time? If so, a part time job would be okay? But you would have to allow study time. I I am wondering if you finish your schooling and start a new career earlier than 4 years, what happens? Any answers appreciatted. Quote Link to comment Share on other sites More sharing options...
good-bye-stl-hello-kc Posted September 3, 2006 Share Posted September 3, 2006 To appraiser: a quick ???? if you get a chance, or I will direct this ? to anyone who knows. What was your seperation date? You said you received your check in April, but that your seperation date is April also, just wondering because if it was a full year check would it have been more, or are they going from April to April? Also is 12 credit hours considered full time? If so, a part time job would be okay? But you would have to allow study time. I I am wondering if you finish your schooling and start a new career earlier than 4 years, what happens? Any answers appreciatted. Yes you can take a job while you go to school. you should recieve you first payment within 30 days of seperation from the company you are mandated to take 12 credit hours per year and they will pay up to 15k for schooling and you must hold a c average if you dont you will automaticlly revert back to the 100k buy out minus any monies used for school and direct payments 25k plus benies. If you only go to school for 1 or 2 years you will recieve the remaing monies from the 1ook but I dont think you will be considered for the placement program. Quote Link to comment Share on other sites More sharing options...
onmyway Posted September 4, 2006 Share Posted September 4, 2006 Yes you can take a job while you go to school.you should recieve you first payment within 30 days of seperation from the company you are mandated to take 12 credit hours per year and they will pay up to 15k for schooling and you must hold a c average if you dont you will automaticlly revert back to the 100k buy out minus any monies used for school and direct payments 25k plus benies. If you only go to school for 1 or 2 years you will recieve the remaing monies from the 1ook but I dont think you will be considered for the placement program. What Placement Program???????HELP???? Quote Link to comment Share on other sites More sharing options...
theBinKC Posted January 11, 2007 Share Posted January 11, 2007 U will get a check in the mail about three weeks after your last day employment. This check will be half of your pay without overtime. LESS A BONUS TAX 36.8%!!!!! The best example I can give is $55,000 and take 50% $27,500 your stipend amount before taxes. The actuall check that came in the mail $17,560. FOUL!!! You get $15,000 a year for college (4 years maintaining C avg) The tution doesn't cover anything beside the base class. NO TESTING, NO LABS, SUPPIES, FEES, OUT OF DISTRICT, PARKING OR BOOKS. You buy your own books upfront and mail you proof of purchase in a get a refund for books. Yearly book allowance is $425.00. My first semester $320.00. FOUL!!! I supplied college with voucher from Ford at enrollment time and was dropped due to non-payment. As of today, I am facing the $2000 bill being sent to credit agency. I now have to seek another college, since I CAN NOT ENROLL until the bill is paid. FOUL!!! The buyout states you will continue benefits according to the contract. If it changes then your health insurance will change for yourself and depend. My toddler went to get shots at pedit. office and I was informed our last bill was denied due to we have no coverage. The shots cost $285 plus last bill of $192. I could have said no thank you I will go to the local health department and get shots for free. Actually I almost qualify for welfare. I asked questions prior to signing contract and the union and ford seemed clueless!!! TAKE IT FROM A UNION SISTER STAY WHERE YOU ARE AND GET ETAP WORKING FOR YOU!!! The color 3 fold employment salaries is FOUL!!! Check it for yourself. If you break it down go to school 4yrs. new degree start at 25K-32K avg since you have no experience. Plus, look at your monthly expenses real close. Better yet, take a double look at the money you blow. The lifestyle will be GONE unless you have a heavy solid income from a spouse. I have to admit I love the time I have with my kids and family, but union brothers and sisters that will NOT pay the bills. I may have to get a part-time job FOUL!! Making what? Quote Link to comment Share on other sites More sharing options...
NN52310 Posted January 11, 2007 Share Posted January 11, 2007 Most of the information on the EDDOP you have gotten is accurate. You will receive half your yearly base salary (hourly rate not including cola X 2080 = annual stipend) You must maintain a C or better average or you will revert to the 100k buyout less what you spent already. If you total it out with medical, insurance, tuition books, and the gross stipend you will receive up to well over $220,000 over the four year total. Additionally, I am returning to work and being over age fifty the Trade Assistance Act is going to provide a 50% difference in pay allowance foe up to two years. (ATTA). About five dollars an hour extra. Your state employment has the info. Liberty University in Virginia has a excellent Distance Learning Program (DLP) liberty.edu It allows you to break your semester into two eight week formats - you take two classes one portion and the final period you complete the remaining other two classes to get your required total of 12 credit hours per semester. you spend about 2 hours a day studying. So far it has worked out great - excellent courses, great online learning and professors that are easily contacted. And not too much of a reach for a dumb pipe fitter. Quote Link to comment Share on other sites More sharing options...
WixomRealityCheck Posted January 12, 2007 Share Posted January 12, 2007 You DO NOT GET DROPPED IF YOU FAIL A CLASS...You have the right to re-take the class one time. If you cannot maintain a "c" average, something is wrong. People wanting to educate themselves fair better than young kids considering that they WANT to be there and get a degree. There are endless resources to help you pass a class, utilize them. Academic advisors, tutors, study groups, good lord, if you want it, you want it, if you don't, you don't. Don't know what happened with you theBinKC, something isn't right. Sucks. Quote Link to comment Share on other sites More sharing options...
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