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Organizations may offer financial assistance to employees who wish to receive further education through tuition assistance programs (TAPs). Tuition assistance programs have proven to be effective tools in retaining motivated employees and creating a highly skilled workforce.
Tuition assistance programs are usually administered through an organization’s human resources department or are part of an employee’s benefits package.
Program criteria
The employer may establish eligibility criteria for such programs. That criteria may include that the employee:
Organizations may place guidelines and restrictions on such programs. For example, the TAP may only cover the tuition for courses in the core curriculum of a program, and then only in certain majors (for example, accounting, business, or finance). If a student wants to take courses outside of the curriculum, the student may need to provide proof the classes are required for the major or would pay dividends for the company.
The TAP may require that the employee repay any money received toward tuition reimbursement if the employee discontinues classes. The employee may be required to repay the money to the employer while waiting for a refund from the university, if receiving a refund at all.
Additional considerations:
Organizations may offer financial assistance to employees who wish to receive further education through tuition assistance programs (TAPs). Tuition assistance programs have proven to be effective tools in retaining motivated employees and creating a highly skilled workforce.
Tuition assistance programs are usually administered through an organization’s human resources department or are part of an employee’s benefits package.
Program criteria
The employer may establish eligibility criteria for such programs. That criteria may include that the employee:
Organizations may place guidelines and restrictions on such programs. For example, the TAP may only cover the tuition for courses in the core curriculum of a program, and then only in certain majors (for example, accounting, business, or finance). If a student wants to take courses outside of the curriculum, the student may need to provide proof the classes are required for the major or would pay dividends for the company.
The TAP may require that the employee repay any money received toward tuition reimbursement if the employee discontinues classes. The employee may be required to repay the money to the employer while waiting for a refund from the university, if receiving a refund at all.
Additional considerations: