Career Advice

Who's Paying for College?

Job Upon February 16, 2023

For many people, the idea of returning to college after years in the workforce can seem daunting. With concerns about tuition costs, time away from work, and family obligations, it can be hard to make a case for going back to school. But what if you didn’t have to worry about the financial burden of tuition? What if someone else paid your way? Believe it or not, there are companies out there that offer college tuition reimbursement as part of their employee benefits! Let’s take a look at who’s paying for college these days.

The Cost of College Tuition

The cost of attending college has risen significantly over the past several decades. According to The Institute for College Access & Success, the average cost of tuition and fees for a four-year degree at a public university was $9,716 in 2018-2019. That figure doesn’t even include room and board or books! So it’s no wonder that more and more people are looking for ways to reduce those costs.

Employer Tuition Reimbursement Programs

Enter employer tuition reimbursement programs. These programs provide employees with financial assistance for educational expenses such as tuition, textbooks, fees and other related costs. The most common form of reimbursement is when employers pay up front and then reimburse employees after they have completed their coursework (or upon completion of the program). It is important to note that this type of program typically has specific criteria associated with it; usually including requirements like working with the company for a certain amount of time before applying or only covering certain types of courses/programs.

Examples Of Companies Offering Tuition Assistance

There are quite a few well-known companies that offer some form of tuition reimbursement as part of their employee benefits package; Starbucks is one example. As part of its “Starbucks College Achievement Plan”, Starbucks offers full-time employees up to two years (24 months) of free undergraduate education through Arizona State University's online program -- which includes access to hundreds of accredited degrees from ASU Online and SBS Global Campuses worldwide! Other companies offering similar programs include Google, Bank Of America, Home Depot, Comcast, and many more!

Unsurprisingly, more and more businesses are beginning to realize the value in investing in their employees' educations by offering tuition reimbursement programs -- both as an incentive for current employees as well as an attractive benefit when recruiting new talent. While each company's program may differ in terms of details or eligibility requirements, this type of benefit should not be overlooked if you're considering returning back to school or furthering your education! After all -- who wouldn't want someone else to pick up the tab?