When you get a job offer from a recruiter or employer, you must forward to us the offer letter on company letterhead to the Placement Office at computerplacement@mum.edu or fax to (641) 470-1346.

Offer letter should include:

• job title and description, start date and term of employment, location, and salary
• any other information employer wants to include such as benefits like health insurance, etc.

Steps to Follow:

1. Receive offer letter and other agreements (non-compete; non-disclosure) from employer.
2. Send offer letter to: ComputerPlacement@mum.edu.
3. Discuss offer with Placement Office.
4. Return M.U.M. Job Acceptance Agreement Form.
5. Cancel other pending interviews.  Remove resume from sites.
6. Sign & return forms to employer + email of appreciation and acceptance of position.
7. Employer Agreement and Request for CPT Work Authorization.
8. Receive, sign, & fax back MidWestOne loan disclosure.
9. Receive, notarize and return overnight MidWestOne loan papers.
10. M.U.M. issues your I-20 page 3 CPT work authorization: fax to employer; original to you.
11. Fill out Form W-4 for employer.
12. Fill out Form I-9 for employer.
13. Fill out Direct Payroll Deposit form for loan/bank accounts.   

 CPT Employment Acceptance Agreement

We have received a notice of your offer of employment; before we begin processing your work authorization and/or CPT credit, we need confirmation from you that you are accepting this offer.

1. You accept this offer and acknowledge this is a legally binding contract between you and the employer/recruiter. Failure to honor this agreement could result in canceling your work authorization, and other disciplinary action including a fine of up to $1,000 and possible dismissal from M.U.M.
2. In accepting this offer, you will not accept new offers and will cancel all interviews.
3. You will remove your resume from all bulletin boards, job boards, etc.
4. You will abide by the terms of your contract and the guidelines and policies of the Compro Career Center for any change of job/employment as posted in the on-line COMPRO Policy Manual: http://mscs.mum.edu/policy-manual.html#JS For example, starting now, you will not interview for any job in the future without first contacting the Computer Professionals Career Center: computercareers@mum.edu
5. You will follow the financial tuition payment agreements as applicable to you. Bank loan details are at: https://www.cs.miu.edu/mum/bank-loan For loan payments, failure to set up direct payroll deposit to your MidWestOne Bank checking account would result in a $500 annual charge to you.

Name of hiring company:  __________________________________________________

Your new title:  ________________________________

Start date of employment: _______________________

How did you find this position? ______________________________________________

I will work at this employment for at least 12 months because I have asked many questions of the employer to confirm the technologies, pay rate, and work environment are what I want, including the following duties:_______________________________________________   _______________________________________________                         

Type your name here as Signature/Electronic entry: ____________________ Date: ______

By entering or signing your name above, you confirm agreement with the items in this form.

List your current address. If you are moving in the next 5 days, contact us.
Street address: __________________________________ Apartment_____________
[If not your address, list care of person’s name: ______________________________ ]
City_____________________________ State_____ Zip____________

Computer Professional Placement Office

Maharishi University of Management

1000 N. 4^th St.,  MR 777

Fairfield, IA 52557

Email to: computercareers@mum.edu

Phone: (641) 470-1351 or (641) 472-1214

Fax:     (641) 470-1346

H-1B Offers

• The University cannot authorize students to accept a job offer where a company would place you into H1-B status right away.
• Since the Federal regulations under which our program operates only allows the University to authorize a student for 1 year of CPT at a time, we cannot allow anyone to sign an agreement which commits you to 2 or more years of employment from the beginning.

These positions can be considered if you are having trouble getting a job. Some positive and negative points regarding intern/contract positions:

Positive:

• get U.S. work experience on your resume
• become familiar with the U.S. work environment
• learn new skills
• keep your current skills sharp and up to date

Negative:

• slow progress toward paying program costs
• may be underpaid for your level of knowledge and experience
• must send checks to M.U.M. each month

Students are allowed to accept intern/contract positions under the following conditions:

• They sign an Intern Agreement Form to make payments from their monthly salary towards their program costs ($300/month minimum payment).
• They can only remain in an intern job for 3 months and will only be authorized for that length of time.

Compro Policy Manual link for Bank Loan: https://www.cs.miu.edu/mum/bank-loan.

When you start employment, your bank loan will begin, and will be approved based on the amount you owe M.U.M. and your employment situation. The amount of your loan is based on how much you owe M.U.M. at the time the loan is taken out. Additional student charges may occur after your loan is taken out by you. These charges must be paid prior to your graduation.

Your Loan Amount is based on your M.U.M. Student Account balance. The loan amount will vary depending on how much you owe M.U.M. Below is a sample loan.

A loan guaranteed by M.U.M. is for not longer than 24 months for an F-1/CPT student. If a student is making a very high salary, the term of the loan may be shortened to as low as 20 months to pay off the debt sooner and reduce the total interest paid on the loan.

Compro students average about $1,800 per month in living expenses. Expenses should not be much higher than this average. Students are expected to keep monthly living expenses at a modest level when still paying for their education. You are expected to save your budget surplus to cover living expenses and loan payments should you be laid off from your job.

NOTE: Monthly living expenses are based on single individuals, not families. M.U.M. will not delay or extend repayment of educational costs so that you can bring family from overseas. Also, personal debt from the past will not be factored into the monthly payment calculations.

Private Bank Loan Program

A private bank loan that is not guaranteed by M.U.M. provides 100% financial aid (covering tuition, fees, campus housing, and meals), and you pay nothing until after you graduate. This loan must be put in place before you start job search. However, even if you don't have the private loan before you are employed, you still may take out a private bank to pay off your M.U.M guaranteed bank loan. It has the following features:

• Lower monthly payments
• No loan payments until 6 months after you graduate (interest accrues from date of loan)
• Low interest rate — currently 7.00% (interest rates are subject to change)
• 15 or 20 years to repay
• No origination or repayment fees

Important Points

• Bank loans that are not guaranteed by M.U.M. require non-resident students (F-1/CPT; or EAD) to have a loan co-signer, no exceptions.
• The co-signer must be a U.S. permanent resident or citizen who will accept responsibility for the loan in event of default. The co-signer can be a relative or any other person who has an acceptable credit record in the U.S.
• One private educational loan program you might investigate is:
  https://www.discover.com/student-loans/private-student-loans/graduate-student-loans.html

Other bank loans have smaller monthly payments, however, the total interest paid will be higher than the M.U.M. guaranteed loan if you take a long time to repay the loan. If you are able to pay off the loan early, you can reduce the total interest paid. Or, if you can afford higher monthly payments, you can take out a shorter term loan of 5 or 10 years which also reduces total interest paid.

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