Common use of Changes in Employment Status Clause in Contracts

Changes in Employment Status. Any changes in employment status, including voluntary or involuntary job loss, the commencement of a new job, initialization or cessation of government unemployment benefits to the Student, a change in Disability status, or the Student’s entry into protection must be reported to Education Equity as soon as the Student becomes aware of the change. If the Student does not notify the Servicer within fourteen (14) days of an change in employment status, the Student will be liable for Future Income Remittances during the time between when he or she became Unemployed or Disabled and notification to the Servicer, based on his or her Personal Income level prior to the adverse event. Relevant documentation will be required from the Student in each of the above scenarios, including proof of unemployment benefits or claims, or letters from a doctor affirming the Student is Disabled. The Student’s obligations are not dischargeable under bankruptcy laws unless not discharging the Student’s obligations would cause undue hardship to the Student or the Student’s dependents.