Student Banking Program

Students enrolled in the D.O. have the ability to earn money for successful participation in their afternoon vocational programs.  This is not a pay check, but a stipend. The average amount of the stipend is $20.00 per month.  This stipend is in place to encourage students to learn various banking skills.  A savings account for each student is opened through the D.O. Program at the National Bank of Middlebury.  Some of these skills include learning how to check their bank account on-line and completing deposit and withdrawal slips at the National Bank of Middlebury. Students are required to deposit at least 40% of their monthly stipend into the savings account. They are free to keep the rest and spend it as they’d like.  The money invested into the savings account may be used for school related purchases or activities, such as a school yearbook and school trips.  When students graduate from the program, their account is closed and they receive a check for the full balance on the night of the D.O. graduation ceremonies.  Students who leave the program before graduation forfeit the right to receive this check. The remaining balance of the account is returned to the D.O. Student Banking Program.