5 U.S. Companies Who Help Pay for College Tuition
With colleges across the country raising tuition at an alarming rate, a first-rate college education is no longer within the reach of millions of young Americans. Fortunately, some of America’s largest corporations are picking up the slack...
With colleges across the country raising tuition at an alarming rate, a first-rate college education is no longer within the reach of millions of young Americans. Fortunately, some of America’s largest corporations are picking up the slack and are now offering tuition reimbursement programs to their employees. These are the top 5 companies with generous benefits that enable their employees to receive a subsidized college education while working:
Rightfully known as a trailblazer when it comes to paying for college, Starbucks has a collaboration with Arizona State University and covers the tuition of its U.S.-based employees. One of the best parts of their College Achievement Plan is that students can enroll in dozens of online programs offered by ASU and then complete them on their own schedule. Starbucks will cover the tuition for each year of all of the bachelor’s programs, offering their employees a real opportunity to receive a college degree and advance their careers, both at Starbucks and beyond.
As a pioneer in this area, Starbucks deserves a lot of credit for inspiring other corporations across the United States to begin offering tuition reimbursement programs.
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Offering $5,000 a year to full-time associates and $2,500 a year to part-time associates, Capital One is another company with a generous tuition reimbursement program. The allotted money can be spent on tuition, books, and college fees, providing students with the opportunity to enroll in school while remaining in the workforce. Employees can sign up for both degree and non-degree courses intended for personal growth or professional development.
The UPS Tuition Assistance Program has been offering generous tuition reimbursements since the program began in 1999. UPS has helped over 113,000 of its employees pay for college and has invested more than $187 million into this endeavor, reflecting the company’s commitment to its employees’ educations. Tuition assistance from UPS is available for a wide range of their workers, including full-time non-union employees, part-time management employees, and part-time union employees.
Moreover, this is in addition to the $300 million a year that UPS allocates for training programs offered from within the company, further reflecting the company’s ironclad pledge to help their employees advance.
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Taking a leaf out of Starbucks’ book, Fiat Chrysler has teamed up with Strayer University, an accredited online college that also has 80 campuses across the U.S. Intended to increase their employee retention rate, Fiat Chrysler will fully subsidize the tuition of their part-time and full-time employees that have been with the company for over 30 days. Considering that the average bachelor’s degree at Strayer typically costs over $40,000, this is a huge incentive for employees at Fiat dealerships to stick with the company.
Offering tuition reimbursements of up to 75%, Chevron should also be on the radar of employees seeking a subsidized college education. In addition to helping their employees pay for college, Chevron offers a wide variety of career development and training programs that help employees develop new skills and qualify for more lucrative professional roles.
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