Getting back some of your investment
Tuition reimbursement is a great incentive for people who want to advance their careers and their knowledge. It's a program generally supported by employers who encourage their employees to continue their education and skills training.
While tuition reimbursement tends to be the first benefit program cut if financial difficulties emerge within an organization, many companies do their best to hold on to it. Recent studies suggest that the average payout for completing a degree is $2000 to $5000. Individual courses are usually covered in full if they apply to the workplace.
Often, timidity prevents employees from broaching the subject of furthering their education on the company bill, but a significant percentage of students who ask for tuition reimbursement actually receive it. Generally, companies are most willing to reward employees who have been with the company for a while and who show a devotion to their job.
How to Receive Assistance
Regardless of your position or status in a company, there are some clear conditions that will increase your likelihood of receiving tuition reimbursement:
- Those participating in work related programs (programs that directly upgrade work skills) instead of programs that are credential related (completing a degree that was nominally job related) are far more likely to receive employer aid.
- Those who work full time and attend school part time are more likely to receive financial aid from their employers.
- Those in technical fields are far more likely to receive financial aid from their employers.
- People seeking a graduate degree are likely to receive a significantly greater of money in tuition reimbursement than those pursuing other avenues.
- Undergraduate employees are far more likely to receive financial aid if they attend a public university. This is likely changing as more and more for-profit universities establish themselves, become accredited and are increasingly accepted by U.S. culture.
Your Next Move
Ask your employers to cover your expenses as you continue your education. Hedge your bets by fitting into the trends listed above, in order to get the same tuition reimbursement that many others receive. Remember, it never hurts to ask!