Stipend Reserve Fund

Stipend Reserve Fund

The GDBBS operates a Stipend Reserve Fund that provides flexibility in funding graduate students. There are two types of accounts: credit and debit.  If you wish to utilize this fund please contact the GDBBS Business Manager with your request, which should include the student name(s) and dates of support (e.g. John Doe effective 9/1/18 thru 12/31/18).  If the transaction is a deposit you will need to provide the speedtype you wish to charge.  The Business Manager will send the faculty member a form that includes the information on the support that is requested. The faculty member must obtain signatures of approval by the Program Director and the Chair of the Department where the faculty member derives their primary appointment, and return the form to the Business Manager. Upon recommendation of the Program Director and the Chair the request will be approved and funds disbursed by GDBBS. If a faculty member needs additional support, a new request must be filed.

Credit

A faculty member may want to build a credit in the fund now to pay for a student in later years.

A faculty member may support a student who would otherwise be the responsibility of the Division or by transferring unrestricted funds to the Fund.

A faculty member may utilize their credit for the support of a graduate student who would otherwise be the responsibility of the faculty member (including travel to scientific meetings) or to pay the approved sponsor tuition for a graduate student.

Debit

To be eligible to accrue a debt to the Fund to pay a student stipend and/or sponsor tuition, the faculty must be a member of a Program that makes mentor selection before the beginning of the second year. Those that do not select mentors before the beginning of the second year have fewer ways to retire the debt.

A faculty member may accrue a debt to the Fund to pay the stipend and/or sponsor tuition of a student that would otherwise be the faculty member’s responsibility. This should be considered a last resort and only requested when all other alternatives have been exhausted (see Procedures below). Debts to the Fund are limited to a total dollar amount equivalent to 15 months of student stipend.

Once a faculty member accrues a debt up to 9 months of stipend equivalent the faculty member will be required to meet with GDBBS leadership to discuss a plan for support of current students to avoid exceeding the 15-month cap.  Following that meeting a summary of the discussion and projection for future debt will be forwarded to the Program Director and Chair of the department where the faculty member derives his/her primary appointment.

A faculty member can pay back a debt by supporting a student who would otherwise be the responsibility of GDBBS or by transferring unrestricted money to the Fund.

A Program can pay the faculty member’s debt by forfeiting an allocated half or full slot for a new student.

A Department can pay the individual’s debt by transferring unrestricted money to the Fund.

Procedures

All credit transactions can be accomplished by emailing the GDBBS Business Manager with the student’s name, dates of support, and speedtype.

All debit requests (which must contain the student’s name and dates of support) should be emailed to the Business Manager, who will then send a form by email for the faculty member to obtain approval by the Program Director and the Chair of the Department where the faculty member derives his/her primary appointment. Upon recommendation of the Program Director and the Chair the request will be approved and funds disbursed by GDBBS. If a faculty member needs additional support, a new request must be filed.

Any faculty with a debt to the Fund will be required to pay the stipend of any student(s) rotating in their laboratory. If the program involved fails to notify the GDBBS of such a rotation assignment the program will be responsible for any new debt incurred.

No faculty member with a debt to the Fund will be allowed to take a new student unless the debt is retired by transferring unrestricted funds or faculty member assumes the burden of the student’s support early enough that the debt is retired prior to the student’s 22nd month, when the student’s support would otherwise become the responsibility of the faculty member. If the program approves such a mentor assignment the program will be responsible to retire the debt.

If the Program feels it is important for an assignment to be made to a faculty member in debt, they must pay the debt by giving up a half or full slot for the next recruiting season.  The amount of stipend for this lost slot will be assigned to retire the debt so that this assignment can be made.

Subsequently, if the faculty member needs additional funds, specifically to support a current student, the Chair will be responsible for debt in excess of 15 months of stipend. Because the Chair may have to assume responsibility if reduced funding prevents the faculty member from paying their students, all mentor assignments must be approved by the Program Director and by the Chair of the Department where that faculty member derives their primary appointment.

Reporting

All rotation and mentor assignments will be reported in a timely manner to the GDBBS to allow the updating of the GDBBS database and student files. The Program Director or DGS and the Chair of the Department where the prospective faculty member derives their primary appointment will be required to approve the assignment. The GDBBS Mentor Assignment Agreement form should be completed and forwarded to the GDBBS as soon as it is completed, but in no case later than September 1st of the student’s second year.

Appeals

Any appeals for exceptions to this policy must be submitted in writing to the Director of the GDBBS and should be accompanied by a statement from the Chairman and Program involved. Appeals will be heard by the Executive Committee within 30 days of receipt in the GDBBS office.

In Summary

No new student assignments will be made to a faculty member in debt. The maximum amount of individual indebtedness to the Fund is limited to 15 months of stipend, an amount that most faculty members will be able to pay back when funding is regained.

The faculty member pays back their debt by supporting students who would otherwise be the responsibility of the GDBBS.

The Program pays if they do not report rotation assignments, or if they approve a mentor assignment for a faculty member in debt to the Fund.

Once an assignment is made, the GDBBS will provide up to 15 months of loans if the mentor cannot pay their students.

Subsequently, if the mentor needs additional funds, the Chairs will be responsible for debt in excess of 15 months.