Skip to main content

7 Companies That Offer Employees College Cash as a Benefit

By U.S. News & World Report

Many people go to college so they eventually can land the job of their choice. But the high cost of postsecondary education means some people must go to work immediately.

Some of those who start college right out of high school must leave — because the money runs out, family obligations or other reasons — before securing a degree. But having to go to work doesn’t have to dash your dreams of college.

That’s because many companies not only allow employees to pursue degrees outside work, but they also actively encourage it by providing tuition assistance. According to the International Foundation of Employee Benefits Plans’ 2015 Educational Assistance Benefit Survey — which received 338 responses from various companies — 83 percent of the organizations surveyed offer some type of tuition reimbursement or educational assistance.

These companies cited employee retention, the ability to attract future talent and increasing employee satisfaction and loyalty as some of their reasons for providing these benefits.

[Learn what you need to know about employer tuition benefits for college.]

Here are seven such companies that provide tuition help or reimbursement for employees and how they do so.

— Procter & Gamble: The Cincinnati-based consumer goods company reimburses employees for 80 percent of tuition and qualifying fees for continuing education courses or programs related to their current or next assignment. There is a lifetime cap of $40,000.

— Fiat Chrysler Automobiles: The automaker, through its labor agreement with the United Auto Workers, offers employees help with tuition and fees for job-related, degree-seeking courses at nationally and regionally accredited educational institutions. The tuition assistance plan administrators must review the courses to determine their eligibility for the assistance. The benefit is capped at no more than $5,000 annually.

The company also has a program for employees’ children that provides up to $1,500 in tuition assistance and up to $200 for degree-related books per year. Further, part- and full-time employees at Chrystler, Jeep, Fiat, Dodge and Ram dealerships who have been employed for at least 30 days can receive tuition assistanceto seek associate, bachelor’s or master’s degrees at no cost through Strayer University. This program covers full tuition, books and fees.

— Boeing: The aircraft manufacturer offers employees the Learning Together Program through which it pays employees’ college tuition, books and fees for degree and professional certificate programs. It also pays for individual courses at quality schools.

[Discover how to ask your company to help pay for college.]

Full- and part-time employees are eligible after a year at the company. Schools must have accreditation that the Council for Higher Education Accreditation or the U.S. Department of Education recognizes, and employees who use tuition assistance are taxed for amounts greater than $5,250 a year. Employees can’t use the money for meals, lodging or transportation.

— Anthem: The Indianapolis-based health insurance company offers up to $5,000 in tax-free reimbursement annually to help its employees cover the cost of tuition, fees and books at accredited institutions.

In addition, through its partnership with College for America at Southern New Hampshire University, it offers no-cost associate or bachelor’s degrees online. Benefits are available to full- and part-time employees who work at least 20 hours a week and have been with the company at least six months.

— Disney: The entertainment giant provides employees with tuition help for educational courses that relate to their job duties. Disney pays up to $700 per credit unit and covers the full purchase price of books as well as up to $100 per course for materials.

— AT&T: The communications company offers employees life enrichment benefits, which include tuition aid. All full-time employees who have been with AT&T for a year are eligible for the aid.

The tuition aid policy covers a variety of degree programs, including marketing, human resources, economics, business and communications/mass media. AT&T will pay up to $3,500 a year, with a lifetime cap of $20,000 for undergraduates and $25,000 for graduate degrees.

[Weigh the downsides of tuition assistance through employer-college partnerships.]

— JetBlue: The airline encourages employees to earn degreesand will cover the cost of JetBlue-approved online courses as well as provide college advisement and resources to help employees graduate. Participants must have two years of service with the airline and at least 15 hours of prior college credits or the equivalent.

Employees take their final semester online at one of the partner universities, which includes Thomas Edison State University. With company assistance, grants and scholarships, employees only pay $3,500 for tuition.

Many companies offer employees financial help to further their education or earn degrees. The bottom line: Entering the workforce immediately after high school — or interrupting a college career to take a job — doesn’t have to end your educational pursuits.

More from U.S. News

5 Scholarships for Studying Computer Science, Engineering Overseas

Make Practice Pay Off With Musical Instrument Scholarships

Earn Scholarships for Living in Rural America

7 Companies That Offer Employees College Cash as a Benefit originally appeared on usnews.com

Don’t Settle for Student Loans to Pay for Online Education

By WTOP Staff
Online college programs are becoming a more popular choice for prospective students, with one study finding that more than 6 million students enrolled in at least one online course in fall 2015. The popularity of these courses can be attributed in part to their flexibility with working adults' schedules, students' ability to progress more quickly through online programs and, oftentimes, cheaper tuition. [See 10 low-cost online bachelor's programs for out-of-state students.]Online degrees can be beneficial to many college students, but some studies have shown online learners complete their programs at lower rates than students at traditional brick-and-mortar campuses. Individuals with student loans but no degree comprise two-thirds of defaulted borrowers. Though these numbers are not encouraging, just like for traditional programs, there are ways to reduce how much you'll need to borrow for an online program to ensure you won't become one of these statistics. Don't just settle on borrowing student loans to cover the whole cost of your program and living expenses. Instead, start thinking about how to cut costs and cover your balance in different ways, such as the following. -- Grants and scholarships: Even though you are taking an online course, you can still apply and receive grants and scholarships. But your first step should be to complete the Free Application for Federal Student Aid, commonly referred to as the FAFSA, which will allow you to receive a Pell Grant if your expected family contribution is low enough. The EFC criteria and award amounts are adjusted annually, but the 2017-2018 academic year awards range from $606 to $5,920, which could significantly lower the amount you borrow annually. Your next step is to apply for scholarships. You can start by checking online scholarship search engines, such as the Salt Scholarship Search, College Board's BigFuture and Peterson's. But don't forget to take advantage of local organizations and your school's financial aid office. Both may offer scholarships that you can't find with a national scholarship search. [Review these 10 sites to kick off your scholarship search.]For instance, organizations like the Elks Club, Knights of Columbus or the Rotary Club typically offer scholarships annually to local students. Just because you're going to school online doesn't mean you're ineligible. Visit your local library for scholarship listings, and ask around town. You might be surprised how many local organizations offer scholarships. While these scholarships typically aren't large, every little bit counts. Each dollar you receive in a scholarship is a dollar you don't have to borrow and pay interest on. -- Work-study: Another option for online students may be work-study awards. Not all students enrolled in online programs are eligible, but students at some schools -- including, for example, SUNY Empire State College and Liberty University -- are. Work-study awards are not given upfront like scholarships and grants. In most cases, they are an offer to earn up to the awarded amount if you secure an eligible work-study job. While there is a misconception that all work-study jobs must be on campus, students can work for off-campus, nonprofit or public employers as long as the work is in the public's interest. You may be able to work for a for-profit employer if the job is relevant to your course of study. No matter who the outside employer is, it will need to have an established agreement with your college for you to receive work-study funds. Remember, to be eligible for federal financial aid, you must be enrolled and pursuing a degree or certificate. If you're not working toward a credential, Pell Grants and work-study won't be option, but you may still be able to take advantage of private scholarships -- just be sure to read the eligibility criteria carefully. [Explore what to know about financial aid in online programs.]-- Pay as you go: One of the great benefits to enrolling online is the flexible schedule, which can allow you to complete your college coursework around your responsibilities. But prospective students often overlook using their part- or full-time job earnings as an option for paying for college. Almost 80 percent of college students in 2015 worked at least part time while attending classes, according to the National Center for Education Statistics. By budgeting and thinking strategically about your college costs, you can likely reduce your dependence on student loans by paying a portion out of pocket. Many -- but not all -- online programs are less expensive than traditional programs and often have shorter payment periods. Six, eight or 10 weeks are common course durations. Because of the frequency of payments in an online setting, you may be well-placed to pay as you go and possibly avoid borrowing altogether. Attending college online and avoiding student loans may be challenging, but if you are willing to put in the effort, you can limit the amount you need to borrow. More from U.S. News Q&A: Understanding Student Loan Discharge Eligibility Student Loan Refinancing Isn't Right for All Borrowers
Read Next Story

Related News

Frustration grows in Venezuela as earthquake death toll reaches 1,430

Israel and Lebanon sign framework agreement with US in ‘first step’ toward peace, Rubio says

Trump-endorsed populist poised to become Colombia’s next president as rival challenges vote