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LIPP will cover loan payments due for up to six months for an employer approved parental leave. To be eligible during this period of time the graduate must be on a formal leave and must be returning to the same employer at the end of the leave. Should the graduate terminate employment during the leave they will be responsible for repaying any assistance they received from LIPP to cover the parental leave. LIPP eligibility will be calculated as if the graduate were working full-time during this period.
LIPP also covers part-time work after having children. This policy applies only to parents of children not yet of age to enter ninth grade and part-time work must be at least half time. For purposes of eligibility and contribution rates, the full-time salary equivalent is considered.
Participants interested in taking advantage of these policies will have to submit the Parental/Part-Time Leave Employer Certification Form and Parental Information Sheet with each application.
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