Teachers and summers off

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  • #48182
    frankysmom
    Member

    Hi

    Are teachers or per down paraprofessionals given special consideration for not having employment over the summer?

    In a much older thread, i remember reading, it is okay so long as it can be proven that there are funds available to cover those 2 months including payment shock if applicable.

    Is that still the case and what are the rules regarding the source of those funds? Mainly, must it come from the borrower or can a household member contribute. If so to the latter, what are the rules on that?

    Thank you

    #48185
    frankysmom
    Member

    ETA

    How is monthly gross calculated in this case? A) Gross Yearly/10 months or B) Gross yearly/12 months

    If yearly/12 would working a second job (Must this job be in same field for at least 1 year? or does it not matter?)
    with income equal to or greater than yearly/10 qualify for figure “A”?

    #48330
    frankysmom
    Member

    Looks like this got lost in the shuffle, any educators want to chime in with their experience?

    #48364
    TTrumble
    Member

    Hello frankysmom,

    Teachers and others who only work nine or ten months per year must first be able to show that they will retain their job for the following school year, typically with a notification letter they receive each year from the school district.

    Annual income from teaching will be divided by twelve unless they can prove that they have consistent summer employment that continues each year and have worked at least one prior year and written confirmation that the job will continue for the coming summer season.

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    #50293
    living20057
    Member

    I’m in the bank app stage right now and I submitted my notification letter stating I’m returning end of August. This letter is signed off by the HR director and approved by the school board. However I got a condition asking for an executed contract.

    The only contract we have is the letter I already provided.

    I submitted the letter with the return date for August and salary amount but that’s not enough. Not sure what exactly wording they are looking for.

    I don’t wait till get my next pay stub in September. They have the letter, can’t they just call and verify with HR?

    #66923
    frankysmom
    Member

    @living20057

    Hi, how was this resolved?

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