Company or Employer Paid Education
"Company or Employer Paid Education" submitted by SchoolGrantsfor Editorial Team and last updated on Monday 9th January 2012
One of the many options for paying for continuing education is to use tuition assistance funds provided by employers. More than 50 percent of all employers with a minimum of 100 employers offer tuition assistance (U.S. Bureau of Labor Statistics, Employee Benefits, 2009). However, employers with fewer employees often offer tuition funding.
Yet perhaps the most underutilized resource for employee development is company-funded education. In some industries, such as high tech, where 94% of companies provide tuition reimbursement, it's already traditional to offer employees advanced educational support. In other industries, it has become a competitive necessity for companies that want to thrive during the transition from a baby boomer-based work force to the next generation of leadership. For many others, though, this isn't the case.
Definition of Employer aid
Employer aid is the total amount of employer aid received by the student. Employer aid is financial aid received from the business, corporation, institution, or individual by whom the student is employed. It includes tuition waivers for employees of postsecondary institutions and their dependents. The percentage of students with employer aid is the percentage with positive amounts recorded for this variable. The average amount received is the average of all students who received employer aid.
According to NHES in practice, employer assistance ranges from allowing flextime so employees could fit a class into their schedule, to paying the price of the class. Examples of employer support include providing facilities for the class to be held on-site, or allowing the employee time off with or without pay. Employer support means the employer facilitated the training or education using means other than cash payment. If cash support was provided, it is classified as “employer paid,” if the employer provides any other type of assistance, it is called “employer provided support.”
Employer aid means that the employer provided cash payment to the employee for his or her participation in a formal training or education program. Employer aid for education may take several forms. Examples include paying all or part of the tuition at a postsecondary institution or paying for attendance at a conference where the employee attended a training workshop. Any amount of cash support from the employer qualified as employer aid for training. The student may have received other support from the employer in addition to cash.
Find Details About Employer Tuition Assistance Programs/ Company Offer Tuition Reimbursement:
- An Overview of Employer Tuition Assistance:Qualified Education Expenses, Why & What types and What size of employers offer it, Critical underwriting or participation requirements, Limitation, Pros and cons..
- Types of Company or Employer Paid Education and Training programs
- Why employers are willing to invest in their employees?
- Tax Benefit For Employer-Provided Educational Assistance
- Practical Tips To Remember For Employer Paid Education
- Role of NPSAS and NHES in Education and Training programs
- GPA requirements
Most employers will require you to maintain a certain grade point average (GPA) in order to benefit from the tuition assistance program. Keep this in mind when considering how you will organize your class schedule. “Some employers will even manage their tuition reimbursements according to the student’s semester or quarterly GPA,” says Hilary Ward Schnadt, associate dean of University Center of Lake County. “They may pay 100 percent for an ‘A’ and lower percentages for lower grades.”