Many reasons exist for the continual decline of college enrollment by students today. However, one main reason is the lack of funds due to the high cost of college. With college tuition becoming more expensive by the year, it is no surprise to see many prospective students from humble or middle-class backgrounds either back out of attending college or look for alternative options to bypass outrageous college fees. One such alternative is working for a company offering tuition reimbursements to its employees. In this article we shall see does Google pay for college of their employees?
Google provides tuition reimbursements as part of its perks to employees desirous of attaining a degree in a field of study related to their job. However, there are requirements that Google employees must meet before being eligible for the tuition reimbursement program.
Google Tuition Reimbursement
For several reasons, only a few companies include tuition reimbursements as part of their work package, and Google is one of those few.
The multinational company offers tuition reimbursement to employees seeking to earn a higher degree in a course relevant to their job. However, before an application for tuition reimbursement is approved, it is necessary to meet the following requirements.
- The employee must have worked with a Google account for at least 90 days.
- The desired course must be relevant to the job.
The tuition reimbursement offered by Google ranges from any amount to a maximum of $5,250. Hence, it is vital to keep this in mind when considering the tuition costs for your desired program of study.
Note that Google offers tuition reimbursement annually and only after the employee has an A or B grade in the relevant course. Hence, you have to pay the tuition out of your pockets and be refunded later.
What is Tuition reimbursement?
Tuition reimbursement fee, in this case, refers to an agreement or contract between an employer and employee in which the employer agrees to bear the total/part cost of the tuition fees required to gain a degree in a course relevant to the employee’s job in the company.
In return, the employee will apply all the knowledge and experience gained during the study to the company operations. It is a method by which companies build and develop their workforce to improve work performance and positively affect the general output of the company.
Although the terms and conditions of tuition reimbursement vary from company to company, in most cases, employees only receive tuition reimbursement after successfully earning the required grades or attaining the degree in the course of study. Hence, employees would need to pay for the tuition from their pockets first before being reimbursed.
Benefits of Tuition Reimbursement for Employers and Employees
Although an employee perk, tuition reimbursement benefits both the giver and the receiver in the following ways:
- Increase employee loyalty. One way to guarantee employee loyalty is by investing in their education. Offering to bear a portion of the tuition cost required for an employee to gain more experience and knowledge in a field of interest shows that you value your workers and are interested in their career development and growth.
- Attract the best of the best. By offering a rare but needed employee perk like tuition reimbursement, you attract qualifications from highly-qualified potential employees in need of funding to earn a relevant degree.
- Improve the company. By investing in the education of its employees, a company gives its workforce the platform needed to grow, develop and improve their skills and job performance. This upgrade in work skills will impact how employees carry out their jobs and the company’s overall performance.
- High retention rate. By financing its employees’ acquisition of further learning, a company will retain most workers as employees will be satisfied with their job performance. Hence, they may be reluctant to leave the growth, benefits, and recognition enjoyed in such a company.
Applying For Tuition Reimbursement
If you work with a company offering tuition reimbursement as part of its work benefits and want to apply for it, there are vital factors you should consider. These factors include:
- Are you eligible? Companies offering tuition reimbursement typically have requirements that employees must meet before being considered for the workers’ benefit. For instance, Google tuition reimbursement is dependent on the employee getting an A or B grade in the relevant course.
- What program does it cover? It is also necessary to know the program of study covered by the tuition reimbursement. Like Google, most companies offering this employee perk will only pay part/total amount of the fees needed to gain knowledge in a field related to the employee’s role in the company. However, few companies offer tuition reimbursement for non-career programs.
- How much tuition is covered? Another thing to consider is how much tuition fee the reimbursement program will refund. Is it the full tuition or half? When will it be paid? Is it at the end of each academic year or the end of the course? Is it paid upfront or at the attainment of a grade or degree?
Aside from these, you can ask your employer or HR if there are other conditions surrounding the reimbursement program which you should know. Doing these will help avoid rude surprises when it is time for your reimbursement.
Although most companies do not offer it because it can be expensive to maintain, tuition reimbursement has proved to be an employee perk that benefits both employees and the employer. By investing in the education necessary for the career advancement of its employees, a company develops the skills of its workforce, ensuring that they gain all the knowledge and experience needed to perform their jobs well and improve the company’s overall productivity.
Frequently Asked Questions
- What are some known companies that offer tuition reimbursement in 2022?
They include Apple, Bank of America, Amazon, Disney, Microsoft, etc.
- Which company offers the best tuition reimbursement?
Currently, Amazon offers the best tuition reimbursement program. According to its website, the company will cover 100% of tuition.