Employer Tuition Reimbursement
In today’s ever growing workforce the job market competition is becoming increasingly higher and more difficult with each passing year. This is forcing people to go back to school and pursue an education or further expanded their education beyond an undergrad degree. Although more people are going back to school they all are not footing the bill all by them self. It is 2014 and more employers are giving the opportunity of going back to school to their employees by providing education assistance programs or tuition reimbursement. According to the Elearning Glossary on elearners.com, tuition reimbursement is defined as “An employee benefit offered by employers to fully or partially cover the costs of tuition for post-secondary or training courses” (Eleaners , 2012). When it comes to tuition reimbursement there are numerous amounts of factors a company has to plan by and employees must know to get their true worth of a company’s tuition assistance program. Employees are the only ones who see education as an investment.
With more companies each year offering tuition reimbursement as part of their employee benefits package, they too see the value and investment pay off for helping their valued employees further their education. Some employers might cover all expenses up to a certain amount, while others pay a percentage of the total costs (Tucker). However, it is important to note that only well established companies have the necessary resources available to fund a tuition reimbursement program. In addition to having the adequate funds, employers ask that a tuition assistances program participant maintain high grades to receive the maximum amount of tuition reimbursement. Although this varies from compan...
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...Total Amount Received $5,099,100,000 $3,880,500,000
Works Cited
Cornell University Law School. (2012, August 13). Cornell University. Retrieved from Law.Cornell: http://www.law.cornell.edu/uscode/text/26/414#q
Eleaners . (2012, April 12). Elearning Glossary . Retrieved from Elearners: http://www.elearners.com/online-education-resources/faqs-and-glossary/elearning-glossary/
FidAid. (n.d.). Retrieved from Finaid.ord: http://www.finaid.org/otheraid/employertuitionassistance.phtml
IRS. (2013). Employer-Provided Educational Assistance . Retrieved from IRS.gov: http://www.irs.gov/publications/p970/ch11.html
Smith, L. (2009, Febuary 26). Retrieved from Investopedia: http://www.investopedia.com/articles/pf/08/tuition-reimbursement.asp
Tucker, K. (n.d.). Global POst. Retrieved from Everyday Life: http://everydaylife.globalpost.com/reasons-tuition-reimbursement-28331.html
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