Scholarship programs for employees

Company scholarship programs will not qualify if grants are essentially providing extra pay, an employment incentive, or an employee fringe benefit. Similarly, if scholarship programs are compensatory in nature, an organization administering such a program will not qualify for tax exemption because it is operated for private benefit. A private foundation administering such a program could also be involved in direct or indirect self-dealing. Company-related scholarship programs can meet the scholarship requirements by ensuring that the scholarships awarded are for the main purpose of furthering the recipients' education rather than compensating company employees.

Every year, millions of working adults and non-traditional students enroll in college courses, hoping to advance their education and careers. Yet the cost of higher education remains an enormous barrier for all students, and particularly for working adults and non-traditional students, who typically pay for their own education and may be unable to take out large student loans.

Understanding this, many employers now offer scholarships or tuition assistance to employees pursuing a degree. Large corporations like Big Four accounting firm Deloitte or tech giant Amazon will pay almost the entire cost of education employees seeking certain degrees. Here are 10 companies with outstanding employee scholarships and tuition assistance policies:. Career Choice is targeted to employees pursuing certificates and degrees in high-demand fields, including but not limited to aircraft mechanics, computer-aided design, machine tool technologies, medical lab technologies, and nursing.

To apply, interested employees must complete the online application up to 90 days prior to the course start date. You will need to be approved for your intended course of study and your educational institution. Best Buy offers active, full-time employees tuition assistance that can be applied toward the cost of tuition, required textbooks, and fees.

To apply, employees must submit an online application no later than 30 days after the course start date. If the manager does not take action to approve the application within two weeks, it will be automatically approved. In order to receive tuition reimbursement, the applicant must complete the course with a C- or better in an undergraduate course and a B- or better in a graduate course. Eligible employees are able to receive tuition assistance for educational and vocational courses immediately upon hire.

Employees may take approved courses at an accredited college, university, trade school, association, vocational school, or professional society. There are several other health care providers that offer scholarships. Now this is by no means an exhaustive list, but it gives us an idea of the kinds of things competitors are doing. Here are a few points that are worth noting:.

We cover more of these questions in this post. If you can, connect with people in other departments to see what their needs are. Be open to their suggestions and see if you can make adjustments to the scholarship outline based on their requests. Priority will be given to students who are from groups that are underrepresented in the health care field. We would also like to require all recipients to apply for paid summer internships within our organization.