Did you know that certain employers offer tuition assistance and tuition reimbursement to their student employees? These opportunities help you pay for college, gain great job experience, and receive educational support from your employer.
Tuition Assistance
Tuition assistance is an amazing program offered by many employers across the country to students just like you. Companies use this platform to help their employees pay for education expenses while they are currently attending school. Some employers offer tuition assistance alone, but others may offer to cover the cost of books and supplies. These programs are ideal for students who are trying to integrate their education with their long-term career plans.
Tuition Reimbursement
Similar to tuition assistance, tuition reimbursement programs pay students for educational expenses after-the-fact. Usually an employer requires that their employee make tuition payments and then they are reimbursed once final grades have been awarded for that semester. As with tuition assistance, employers may choose to reimburse tuition alone, while others may offer to reimburse tuition and other expenses related to higher education.
Assistance and reimbursement are regulated by government policies. Most companies will assist with up to $5,250 each year, as companies are taxed for contributions beyond this allowance.
Minimize your costs
These two programs provide options for attending college while minimizing financial burdens, including the long-term commitment of student loans. While some beneficiaries of these programs use tuition benefits as a way to get through college and seek other job opportunities upon graduation, others use employer benefits as a way to progress in the company internally. It is likely that your employer will increase your pay once you’ve obtained your degree, and many companies will continue to sponsor post-graduate studies as well.
Regardless of your post-graduation plans, you’ll gain foundational job experience while receiving an education by maximizing resources to grow both personally and professionally. To maximize these benefits, research before applying to a participating company. Most companies require recipients to be part of a specific academic program or institution in order to be eligible for tuition assistance. Some require students to earn a minimum GPA or get classes pre-approved with a manager. Make sure you have a thorough understanding of your employer’s tuition assistance guidelines to ensure you are eligible.
See some of the great companies that offer tuition assistance or reimbursement programs on the Business Career Services website.
Horzie serves as a First Ascent Scholar. She’s majoring in Political Science and minoring in Business and would like to go to Law School after her undergraduate degree. She aspires to become an immigration lawyer someday and work with immigrants from all over the world, helping them create new lives for themselves and their families in the United States. She seeks new experiences to attain business acumen and leadership skills. Horzie is aiming for internships where she can apply her entrepreneurial skills and political science knowledge, leading to a multidisciplinary career.