Companies that Take Part in Tuition Assistance Programs
Making yourself more valuable as an employee has become even more important as job markets are more competitive than ever. Below are some resources sure to help students identify various companies that participate in tuition assistance programs for their employees.
Estudentloan.com indicates that UPS, Publix, Wells Fargo, Starbucks, Verizon and many others, reimburse their employees’ college tuition for up to a lifetime maximum of $25,000.
Verizon helped over 23,000 of its employees with education reimbursement in 2015. In one of the more attractive programs, their aid caps at $8,000 per year. In contrast, Starbucks offers up to $1,000 per year in aid. However, their employees have access to valuable discounts on books. Between Verizon and Starbucks is UPS, where “[p]art-time employees . . . are eligible to receive up to $5,250 in tuition assistance per year.”
Some companies have stipulations for employees who would like to take part in this type of program. Publix requires six months of employment and working an average of at least 10 hours a week. According to Starbucks, their partnership with Arizona State University is online only. Candidates for the program are eligible immediately upon hire date and must work an average of 20 hours per week.
Some companies help only with undergraduate coursework, but others offer assistance through graduate school. Associations such as Bank of America, Apple and Ford are among those that will assist their employees in receiving an MBA. More companies that offer graduate assistance are listed in this www.investopedia.com artcle.
Why do employers spend money to help employees with college? It is not a selfless act on their behalf. A lot of companies help pay for tuition in order to have their employees “perform better in some capacity. . . driving more revenue or reducing more expenses,” according to a Forbes article. Whatever a company’s reason for doing so, participating in tuition aid programs makes college possible for more people.