Many companies offer tuition reimbursement as part of their employee benefits package, and all employees should take advantage of this great benefit. With most employer reimbursement programs, employees pay tuition upfront for college, graduate, or continuing education classes. Once the employee completes the semester or online college program, the employer will reimburse the employee for the tuition. Many employers offer tuition reimbursement, which is a great way to pay for college.
Why Employers Offer Tuition Benefits
There are several incentives for companies to offer tuition reimbursement for their employees:
- Like any HR benefit, tuition reimbursement helps attract and retain high-quality employees.
- Relevant college training programs sharpen workers’ hard and soft skills, strengthening the company with highly trained employees.
- Tuition reimbursement is tax-deductible up to $5,250 per employee per year, making online college training programs cost-effective for companies.
How Tuition Reimbursement Programs Work
Tuition reimbursement varies from company to company, but at the end of the day, the programs offer free or reduced education costs.
It is important to discuss tuition reimbursement with your human resource department to understand how the program works and what will be required by you, the student.
Employers may require specific time on the job or certain grades to qualify for tuition reimbursement. Companies may also require that employees remain employed for a period following completion of the college program to be eligible for tuition reimbursement. Students can benefit greatly from taking advantage of employer tuition reimbursement opportunities.
Some Companies Offering Tuition Reimbursement as a Benefit Are:
In addition to employer reimbursement, many options are available to help pay for college tuition. If you need information to navigate through tuition reimbursement or other financial aid options, please call Washington Tech admissions office for more information.