What would you say you do here?
Scared that going back to school may take away time from the office or that you will not be able to afford your classes? In many instances your employer may actually have a program setup to pay for some if not all of your tuition to obtain a higher degree or certification. In fact, it is reported that 50% of employers with 100 employees have these programs set up in their benefits package. But many keep it a secret so you will need to do a little digging of your own to find out if your employer has such a benefit.
According to the IRS an employer may actually provide up to $5,250 per year, tax free. This is an excellent opportunity for your employer to give back to its employees. The employer will safely put up approximately 100% of fees for a certification or a degree in a particular field that will benefit the company.
The institutions covered by the company will most likely have to be from an accredited university. You can check on the college or university to find out accreditation online very easily. There are two types of acceptable accreditation: United State Department of Education or the Council for Higher Education Accreditation.
You will also need to check out the stipulations on grades. Remember how dad used to pay you more for A’s, well the same thing applies for coverage by your company. Think of it as Dad giving you $10 for an A, $9 for a B, and so on. Your company may give 100% coverage for an A, 90% for a B, and so on. In almost all cases a grade of C will have to be achieved for any coverage by your employer.
Payment time also can vary from each company. In some cases the employer will pay up front and other times they will require you to provide proof of your achievement before paying anything. Another aspect you may need to check out is whether or not you will be required to stay with the company for a given amount of time. In some cases it is like the military in that they will require so many years for how much they are willing to put up for your betterment.
Generally you will be required to choose a field of study which is relevant to your current job or your future role. Many employers will be willing to up money for an employee to go through an MBA program if business is your current field.
Overall, there are many opportunities to help in shaping your future. Your employer may not have told you much about this program but that doesn’t mean it doesn’t exist. Dig up as much information as you can and take advantage of such a great opportunity.