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Employee Eligibility
Regular full-time Cataldo Ambulance Service, Inc. employees with
at least six months of service are eligible for education assistance
benefits.
EMT Courses
After completion of six months of full-time service as an EMT, Cataldo
Ambulance Service, Inc. may reimburse the employee for the full
cost of the EMT course.
Paramedic Courses
The company may provide a no interest loan for $8,000 or 80% of
the course cost, whichever is less. The employee will be required
to pay the remaining course cost.
Employees will not be required to begin repayment of the loan while
attending Paramedic classes. Repayment of the loan will begin after
completion of the Paramedic course, if the employee drops from the
course, or one year from the loan date, whichever is sooner. Repayment
of the loan will be made through weekly payroll deductions, spread
evenly over 48 months.
If the employee successfully completes the Paramedic course, receives
his/her Paramedic certification from the Commonwealth of Massachusetts,
returns to a full-time status, and remains employed by Cataldo Ambulance
Service, Inc. for two years from date that the employee is certified
as a Paramedic, the remaining two years of the no interest loan
will be forgiven.
Example of How The Loan Provisions Work
Total cost of Paramedic Course: $10,000.00
Employee pays 20% of course cost: $2,000.00
Cataldo Ambulance Service, Inc. provides a
no interest loan (80% of total course cost): $8,000.00
Course Starting Date: 9/15/2005
Course Completion and
Loan Repayment Start Date: 9/15/2006
Loan Repayment: $38.46 per week for 104 weeks
(Total of $4,000 repaid by Employee)
Date Loan Balance is Forgiven: 9/16/2007
(remaining $4,000 forgiven by Cataldo, assuming employee is still
employed and remains on full-time status)
Employee Savings
Employees who participate in this program will realize a total savings
of over $6,100.00 compared to educational funding through a regular
bank loan. In addition to the $4,000 paid by Cataldo Ambulance Service,
the employee also saves an additional $2,112.00 in interest. This
assumes an $8,000 loan at a 12% interest rate, payable over a 48-month
period.
Continuing Education
One of the many benefits Cataldo Ambulance Service employees receive
is a quality curriculum of educational programs presented by experienced
and highly trained EMS professionals. The combination of a state-of-the-art
educational facility and some of the most respected educators in
the industry, affords employees the most interactive and valuable
learning environment possible.
For More Information
To learn more about advancing your career with Cataldo Ambulance,
call Human Resources at 617-625-0126. |
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