Legal Question in Credit and Debt Law in Massachusetts
Tuition repayment to employer
I am leaving my employer but may owe tuition repayment to them. My question is about the agreement that I signed and the verbage used. I owe $0 if I stay for 2 years; 25% is deducted for every 6 months after I graduated school. In essence, I am within the last 6 month period, so repayment is calculated at 25%. From the contract: ''If my employment with abc company is terminated for cause or voluntarily by me after [Date #3] but within six months thereafter (�Date #4�), I will repay to abc company 25% of the net amount of any payments made by abc company. My total bill is $70K, and they calculated I would have to repay 25% or $17,500. Is this correct or should I fight for the ''net'' amount that occured after two years have expired? E.g., I finished in 12/2006 and during that period between 9/06 and 12/06, my expenditures were $12,000. So, the net would be 12k not 70k. Make sense?
3 Answers from Attorneys
Re: Tuition repayment to employer
Sounds a bit shaky. I would need to examine all the relevant documentation in order to render a qualified opinion. Please feel free to call my office direct for a free intitial consult.;))
: Tuition repayment to employer
It depends on the definition of net in your agreement, which is still unclear in what you said.
Re: Tuition repayment to employer
I agree with Henry that it is unclear from your post how your agreement defines "net".
You may want to take a closer look, and perhaps schedule a consultation with an attorney, who can clarify the terms of the agreement before you confront your employer.
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