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Helping Yourself in College with Employer Tuition Assistance

May 27,2010 by: admin

Financial aids for postsecondary education can be granted by several funding institutions, either public or private. There are a wide array of options ranging from federal student loans and private student loans to military aid and employer tuition assistance. Employer tuition assistance can be availed through your parents’ employer. Although you can have scholarships or loans granted from certain philanthropists and interested parties, your parents’ employer can be one of them, too. Employers often take this opportunity as an investment to towards the improvement of their personnel. However, you may find it hard to find an employer who is willing to shoulder tuition and other postsecondary expenses if you are an undergraduate dependent.

Recently, this type of financial assistance is known for people who opted to take Master’s in Business Administration. Much like the Federal Assistance Program, Employer Tuition Assistance is tax-free and is excluded from your income. On the other hand, the company oftentimes impose many restrictions to the recipient of such. The funds should only be used for tuition and other related expenses and should not be given to any dependent of the recipient employee.

Moreover, the courses that you will have to choose must be in line with career path you have chosen. The company may also require you to reach a specific grade or level courses. Oftentimes, this type of companies provide tuition assistance through the Human Resources Department.

Furthermore, some companies may require you to pay your tuition first the file for reimbursement after. Hence, you have to earn enough money to ensure that your income is enough for your daily needs should the reimbursement be delayed.

Some employers may assess your tuition reimbursement according to the Grade Point Average. For example, if your average is A the company will be willing to pay 100% of your tuition. While those who got lesser grades may get lesser assistance. But the $ 5,250 payment will always be the prerogative of the company for it is mandated by the law.

The Employer Tuition Assistance Program is not only applicable to private companies, certain private and public colleges in the country also provide their employees with tuition waivers or tuition reductions. If you are a child of a non-academic staff, you can avail this program. Non-academic staff is given priority in these colleges than employees who are highly compensated. Moreover, faculty members can also be given either full or discounted tuition should they wish to pursue higher studies in postsecondary education within the same college.

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