by Sarah Y. Durning, CourseAdvisor
If you're considering taking a continuing education course or pursuing a college degree, talk to your employer about the type of financial aid known as tuition reimbursement. Advancing your education often helps you get ahead on the job, and many companies offer tuition reimbursement as an employee benefit. Educated, highly skilled employees can be an organization's greatest asset.
Tuition Reimbursement Basics
Make sure your company offers tuition reimbursement. Before enrolling in any classes, contact your supervisor or human resources department to find out if tuition reimbursement is an employee benefit. If tuition reimbursement is available, find out exactly what percentage of your tuition will be covered. Depending on your company and the education program you select, you may be reimbursed for at least 25% of your tuition, but perhaps as much as 75% or even 100%. Other financial aid, such as grants, scholarships, and loans, may help with costs beyond your organization's contribution.
Choose a course or degree program that will benefit you and your employer. It is likely that your company will only pay for tuition costs if the course or education program you are taking is related to and will enhance your abilities for your specific job, thus directly benefiting your employer. If your reason for going to school is to make a career change, you will probably need to find other options for financial aid.
Keep up with the necessary paperwork. Stay on top of the required paperwork to ensure your reimbursement! Find out from your employer the exact documents they need to process your tuition reimbursement.
Tuition Reimbursement is a Good Investment for Employers
Companies benefit from investing in their employees' education for many reasons:
- Educated employees bring improved skills and knowledge to the job, adding to better productivity and performance.
- Employees with advanced educations may be promoted to positions of greater responsibility, saving the company time and money on recruiting and training efforts.
- Tuition reimbursement as a benefit creates an encouraging and supportive environment for employees, resulting in better morale and overall work performance.
Tuition Reimbursement and Continuing Education: a Win-Win Combination
Higher education can improve not only your career but also your life, when greater knowledge and advanced skills lead to a bigger paycheck and the financial stability that can come from a decent salary.
If you like the company you're working for, going back to school to enhance your value to the organization is a practical investment in your future. Your employer may also see your education as a good investment. Ask your employer about tuition reimbursement and take advantage of whatever is available.
Statistics Source: "Tuition Reimbursement—Employer Support for Learning," Sharon N. Daugherty, About.com
Sarah Durning is a Content Editor at CourseAdvisor.
