Companies that offer tuition reimbursement programs

When looking for a new job, the most important factor is often the hourly or annual pay. However, the benefits offered by the company, from health insurance to retirement matching, can make a significant difference in your monthly bills and future career opportunities. Therefore, it’s worth considering these when applying for jobs and evaluating job offers.

What are corporate tuition assistance programs?

Many companies offer tuition reimbursement as part of their benefits package. Here’s how it typically works: the employee pays upfront for college or graduate courses or continuing education. Then, once the course or semester is completed, the employer reimburses a portion of the money spent – or the full amount.

Why do companies offer tuition benefits?

There are several incentives for companies to offer these benefits:

• Like any benefit, they help attract and retain the best employees.
• Relevant courses can enhance workers’ skills and knowledge, benefiting the company.
• Tuition reimbursement can be tax-deductible up to $5,250 per employee per year, making this program cost-effective for companies.

How do tuition reimbursement programs work?

The implementation of this program can vary greatly from company to company. Some reimburse for any educational courses. Others require that courses be taken through specific schools to be eligible for reimbursement. Some companies may only cover the tuition costs for accredited courses.

Companies may require a certain job grade to qualify for reimbursement, or that employees remain with the company for a specified period after completing the course to qualify for reimbursement.

Some companies may cover other course-related costs, such as textbooks or fees.

Companies that offer tuition benefits

From fast food chains to telecommunications companies to banks, here are some leading companies that pay for employee education:

• Amazon: Amazon offers 100% tuition assistance for a wide range of educational opportunities, including high school/GED completion, ESL classes, and college degrees.
• AT&T: AT&T offers tuition assistance – available only for approved education costs, and the company does not provide details on how much assistance is available or other specifics about the program.
• Chipotle: Chipotle has partnered with Guild Education, which offers courses and programs from various universities. Through this partnership, Chipotle employees can receive tuition reimbursement for professional certifications as well as undergraduate and graduate degrees.
• Elevance Health: Employees of this healthcare-focused company are eligible for reimbursement up to $5,000 annually for tuition, books, and other education-related fees. Part-time employees can receive $2,500 annually.
• Home Depot: Tuition reimbursement amounts for Home Depot employees vary by role – salaried employees can receive up to $5,000 per year, while full-time hourly employees can be reimbursed up to $3,000, and part-time hourly employees can receive up to $1,500.
• JetBlue: The airline operates a program known as JetBlue Scholars – employees can apply for enrollment and, upon acceptance, can take approved online courses. To be eligible, employees must have worked at JetBlue for two years.
• Procter & Gamble: Procter & Gamble – maker of a wide range of consumer and household products – offers a tuition reimbursement program that it describes as “generous.”
• JM Smucker Company: JM Smucker Company makes more than jams – its brands include big names like Folgers, Pillsbury, and Meow Mix. The company offers reimbursement for some tuition costs for accredited college courses.
• Starbucks:

All eligible employees in the United States for this coffee provider can receive full tuition coverage for a college degree – it’s almost a free bachelor’s degree. An important note about this program: Employees can only study through Arizona State University’s online program.

• UPS: Part-time employees at UPS working in package handling can participate in the company’s earn and learn program, which covers up to $25,000 in college expenses (the program reimburses a maximum of $5,250 per employee annually). According to the company’s website, employees are eligible to take advantage of these benefits from their start date.
• Wells Fargo: The banking giant offers up to $5,000 annually for qualified tuition expenses, in addition to scholarships for employees’ children.

How to Find Companies That Offer Tuition Assistance

What’s the best way to find employers that offer paid tuition programs? You can discover companies that provide tuition benefits while job searching.

• Use advanced search options. When searching for jobs, use advanced search options to find positions that match your requirements. Use terms like “tuition,” “tuition assistance,” and “tuition reimbursement” to generate a list of open positions that offer tuition as a company benefit.
• Check the job description. When reviewing job postings, check the details. Many employers mention benefits in the job description.
• Browse the company’s website. Check the careers section of the company’s website. You should be able to find details on the benefits offerings provided by the employer, including tuition reimbursement if offered.

Frequently Asked Questions

Are there requirements to qualify for tuition reimbursement programs?

When a company creates a tuition assistance program, it will specify which employees are eligible to participate and what the guidelines are to qualify for the program. Some employers may require employees to be with the company for a certain period of time before they can participate. Others may offer tuition benefits to specific categories of employees and not all categories. Tuition reimbursement may be contingent on the grade earned in the course.

Do companies that offer tuition assistance programs pay the fees upfront or reimburse employees?

How tuition programs are managed depends on the employer. Some companies pay tuition and related expenses, such as fees and books, upfront. Other employers reimburse some or all costs that have been paid by employees. There may be limits on what is covered and caps on the maximum amount reimbursed.

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Sources:

SHRM. “Why More Employers Are Leveraging Tuition Assistance to Attract and Retain Employees.”

SHRM. “Designing and Managing Educational Assistance Programs.”

Amazon. “What Is the Amazon Career Choice Program?”

Internal Revenue Service (IRS). “Publication 15-B (2020), Employer’s Tax Guide to Fringe Benefits.”

Internal Revenue Service (IRS). “Tax Benefits for Education: Information Center.”

Amazon. “Amazon Career Choice Program.”

AT&T. “AT&T Issue Briefs.”

Chipotle. “Go Back to School Debt-Free.”

Elevance Health. “Benefits With Impact.”

Home Depot. “Tuition Reimbursement.”

JetBlue. “JetBlue Scholars.”

P&G. “Get The Benefits That Make Life Better”

The J.M. Smucker Company. “Employee Benefits Overview.”

Starbucks. “Starbucks College Achievement Plan.”

UPS. “Earn & Learn.”

Wells Fargo. “Our Benefits.”

Source: https://www.thebalancemoney.com/companies-offer-tuition-reimbursement-4126637

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