Tuition reimbursement can make it possible for you to get a college education.
A common perk offered by companies to their employees is tuition reimbursement. This benefit offers workers reimbursement for all or part of their approved tuition expenses. For companies, the benefit of incentivizing the pursuit of higher educational opportunities is a better educated workforce. However, tuition reimbursement also offers many benefits for the people who choose to take advantage of it.
Cost Defrayal
People often put off a college education because life gets in the way. Children, mortgage, car payments and other financial responsibilities can make pursuing a college education a prohibitively expensive proposition. However, tuition reimbursement programs allow workers the opportunity to make their college education dreams a reality by defraying the costs of an education. While workers typically have to pay for tuition costs up front, they are usually reimbursed once the semester is over.
Career Advancement
Tuition reimbursement allows employees to sharpen their skills and résumés through advanced education. This positions them to move up the career ladder within their companies. While career advancement provides added prestige, it also means the opportunity to earn more money. Thus, workers who don't feel that they're adequately providing for their families' financial needs would benefit from taking advantage of their employers' tuition reimbursement programs.
Job Competitiveness
In a down economy where jobs can be hard to come by, job seekers with advanced education tend to have a competitive edge. While you may like your current job and feel secure there, you never know when pink slips can suddenly be issued. When it's time to embark on a job hunt, you'll be grateful for all the education you can put on your résumé. Thus, taking advantage of tuition reimbursement programs can be a good strategic move that can pay off in the event of an unexpected layoff.
Societal Benefits
It's not just the individual beneficiaries of tuition reimbursement programs who benefit from them. Society as a whole is made better by tuition reimbursement programs. That's because people with a college degree tend to be more involved in civic and political pursuits. Moreover, when more members of a community have advanced educations, local economies tend to be stronger, because companies have a steady supply of qualified candidates with which to fill their ranks.
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