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Most Expedia Group employees have already heard of the Free Application for Federal Student Aid, or FAFSA, if they or someone they know has plans to attend a college, career school, or university. Last year, around 70% of families submitted a FAFSA to the Department of Education to secure financial assistance. But what many prospective and current students may overlook are the various federal grants awarded to students in need each year.
Granted value
Most federal grants, unlike loans, function as sources of funding. There are some exceptions, though. For example, if a student is awarded a grant, but withdraws from the program in which they’re enrolled, they may be required to pay back all or a portion of that grant.
Know your grants
The Department of Education offers multiple aid packages as part of the Federal Student Grant Program and all Expedia Group employees should be aware of them. The following four are granted most often, and each has different requirements for eligibility. The information below applies to the 2023-2024 academic year:
- Federal Pell Grants - With a maximum award of $6,895, Pell Grants are reserved for undergraduate students who have exceptional financial need and have not earned a bachelor’s, graduate, or professional degree yet.
- Federal Supplemental Educational Opportunity Grants (FSEO) - FSEO Grants award a maximum of $4,000 to those who demonstrate exceptional need and have not yet earned a bachelor’s or graduate degree. FSEO Grants also give priority to Pell Grant recipients over other applicants.
- Iraq and Afghanistan Service Grants - These grants award a maximum of $6,895, and they’re only for students whose parent or guardian served in a branch of the U.S. Armed Forces and died while serving in Iraq or Afghanistan after the events of 9/11.
- Teacher Education Assistance for College and Higher Education (TEACH) Grants - TEACH Grants award a maximum of $4,000, and they’re reserved for students who are enrolled in teaching preparation programs and agree to teach for a minimum of 4 years at the elementary or secondary school level in a high-need field.
FAFSA Required
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No matter who you are or your financial situation, you may want to consider submitting a FAFSA. After all, the grants listed above do require recipients to have an application on file with the Department of Education. And who knows? The potential financial benefit that you as a Expedia Group employee could secure may surprise you.
- Finder.com, 2019
- StudentAid.gov, 2020
What type of retirement plan does Expedia Group offer to its employees?
Expedia Group offers a 401(k) retirement savings plan to help employees save for their future.
Does Expedia Group match employee contributions to the 401(k) plan?
Yes, Expedia Group provides a matching contribution to employee 401(k) plans, subject to certain limits.
What is the eligibility criteria for participating in Expedia Group's 401(k) plan?
Employees of Expedia Group are generally eligible to participate in the 401(k) plan after completing a specified period of service.
How can employees at Expedia Group enroll in the 401(k) savings plan?
Employees can enroll in the Expedia Group 401(k) savings plan through the company’s HR portal or by contacting the HR department for assistance.
What investment options are available in Expedia Group's 401(k) plan?
Expedia Group offers a variety of investment options in its 401(k) plan, including mutual funds, target-date funds, and other investment vehicles.
Can employees at Expedia Group take loans against their 401(k) savings?
Yes, Expedia Group allows employees to take loans against their 401(k) savings, subject to the plan's rules and limits.
What is the vesting schedule for employer contributions in Expedia Group's 401(k) plan?
The vesting schedule for employer contributions at Expedia Group typically follows a graded vesting schedule, which employees can review in the plan documents.
How often can employees change their contribution amounts to the 401(k) plan at Expedia Group?
Employees at Expedia Group can change their contribution amounts to the 401(k) plan multiple times throughout the year, as allowed by the plan.
Does Expedia Group offer financial education resources for employees regarding their 401(k) plan?
Yes, Expedia Group provides financial education resources and tools to help employees make informed decisions about their 401(k) savings.
What happens to an employee's 401(k) savings if they leave Expedia Group?
If an employee leaves Expedia Group, they can choose to roll over their 401(k) savings to another retirement account, leave the funds in the current plan, or withdraw the funds, subject to applicable taxes and penalties.
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