Congrats! You have been accepted into one of our programs! Some of our programs provide educational stipends to our students; before you move forward, please consult your offer letter for confirmation as to whether or not your program offers a stipend.
Q1: What is a stipend in the context of the Extern externship?
A: An educational stipend is a predetermined amount of money provided to externs to support them during their externship period. It's not a salary but rather an allowance to help cover some of the costs or needs that may arise during the externship.
Q2: Is everyone eligible to receive the stipend?
A: Typically, all accepted externs are eligible, but there may be specific criteria or conditions set by the program. Always refer to your externship agreement or consult with the externship coordinator for specifics.
Q3: How much is the stipend amount?
A: The stipend amount can vary based on the externship duration, the nature of the externship, and other factors. The exact amount will be specified in your externship offer or agreement.
Q4: What are the conditions to receive the stipend?
A: The following requirements have to be met to qualify for the stipend:
The student must have completed 100% of training by the end date of the program, and;
The student must attend at least 75% of meetings, whereas the numerator for the ratio is the number of times the student was marked in attendance at an event and the denominator for the ratio is the total number of weekly meetings, company meetings, 1:1 meetings, and other events.
Q5: Do I need to pay taxes on the stipend?
A: In many jurisdictions, stipends are considered taxable income. However, tax implications can vary based on local regulations and the nature of the stipend. It's advisable to consult with a tax professional or accountant about your specific situation.
Q6: How will information be retained after it is submitted?
A: The data submitted into the platform is collected directly into Trolley, where it is stored and utilized for end-of-year tax reporting etc. It remains within Trolley and is never transferred out of that system into Extern's database. Information is NEVER received by Extern or the host company. Further details on the Trolley privacy policy can be found HERE.
Always remember that terms, conditions, and specifics can vary based on the individual externship agreement. When in doubt, always refer to the official documentation or communicate directly with the Extern externship team. 📄👩💼