With careers expecting more education and experience from their employees, may prospective workers are getting their college degree before they enter the workforce. Educational expenses can be a heavy burden for the average employee combined with their living expenses. Many employers have taken the initiative to provide tuition reimbursement to their employees.
Bank of America
Bank of America believes that the most important aspect of their business is its employees. They designed a benefit program to meet the needs and help their employees live better and plan for a better life. The company gives eligible employees up to $5,250 in tuition reimbursement towards a work-related degree or job-related coursework.
Baxter’s Educational Assistance Program reimburses employees up to $5,250 annually for undergraduate classes. Also, the company has a separate tuition assistance program for graduate-level education. Not only are they supporting employees with reimbursements for education but Baxter also offers a scholarship program. The International Foundation Scholarship Program provides scholarships for children of their employees. These awarded scholarships aid high-school students to go to undergraduate institutions.
BP wants to encourage its employees to further develop themselves professionally. Employees who want to take educational and vocational courses can apply for approval before registering for the course. Once approved, BP reimburses 90 percent of tuition, books, required software, and qualified educational fees for eligible employees.
The goal of JetBlue Scholars is to get employees to complete an interrupted college education. The company pays for approved online courses. To be eligible, employees must have at least two years of service and a minimum of 15 college credits.
Proctor and Gamble
Proctor and Gamble offer employees 80 percent reimbursement for tuition and related fees as long as the coursework is related to the employee’s current job or potential next role with the company. The lifetime cap for this benefit is $40,000.
Employees who average at least 10 hours per week and have worked six months for the grocery chain are eligible for the Publix tuition reimbursement program. It covers individual courses, occupational or technical programs, and undergraduate study. The reimbursement limit for undergraduate programs is $3,200 a year with a cap of $12,800. Non-degree coursework has a reimbursement limit of $1,700 per year with a maximum limit of $3,400.
The coffeehouse chain pays 100 percent of tuition as part of the company’s partnership with Arizona State University’s online program. Benefits-eligible part-time and full-time employees are qualified to seek a first-time undergraduate degree.
Earn and Learn, the UPS tuition assistance program, is available at most of the delivery company’s locations. Employees can receive up to $5,250 in assistance each year with a lifetime maximum of $25,000. Eligibility begins on the day the employee is hired.
Part-time and full-time employees of Walmart and Sam’s Club can receive a 15 percent tuition grant for courses with American Public University and American Military University. Employees are eligible from the first day they start working for the companies.
To encourage and support their employees, the bank’s may reimburse its employees up to $5,000 in qualifying tuition expenses each year. They also offer scholarships for the children of its team members every year. The children of team members can receive awards that range from $1,000 to $3,000.
Education is an important step to take when looking at the future. Acquiring a successful career path after college can be difficult and post-graduates may start to feel the burden of their loans when they enter the workforce. It is wise to research the company’s benefit programs before consideration for employment. They may not be able to offer any reimbursement for tuition and it can create a financial struggle.