Key Takeaways
- About half of employers offer some form of undergraduate or graduate tuition assistance, yet many employees do not fully use this valuable benefit.
- Studies show employees who use tuition reimbursement can see wage growth of around 43% over three years and stronger promotion prospects compared to peers who do not participate.
- College of Professional Studies’s multiple terms and flexible online programs make it easier for working adults to maximize yearly tuition benefits and accelerate their education.
You may be leaving money on the table if you’re not taking advantage of a possible employee benefit: tuition assistance for higher education.
About half of employers offer undergraduate or graduate tuition assistance, a recent benefits survey found. Major employers like Amazon, Anthem, Walmart, and Lockheed Martin are offering increasingly generous education assistance programs. Companies want to invest in their employees in order to recruit and retain better workers, and to develop their current employees to perform on a higher level.
More importantly, you as a professional could reap big rewards. A Lumina study found that employees who took advantage of tuition reimbursement were more likely to be promoted and saw a 43% increase in wages over three years, compared to those who didn’t.
If your employer offers this benefit by calendar year, you may still have time in 2023 to maximize your benefit with DU’s University College, which offers courses in four terms per year. This top-ranked college offers bachelor’s completion, master’s degree, and certificate programs in 17 different fields.
You can enroll in the Fall 2023 term at University College and complete your classes (and qualify for reimbursement) before the year is out. You’ll enter 2024 with one term under your belt and a fresh slate of employee tuition assistance.
The education enabled with tuition assistance can make a life-changing difference. Almost all (93%) of respondents to an EdAssist survey said that using their employer’s tuition assistance helped them develop the skills they needed to grow within their company.
Tuition assistance can work in several different ways: some employers cover tuition up-front and others will reimburse you. Some have a limit on how much they cover, or specify which programs qualify.
Check with your Human Resources department to find out what your company offers, and start planning your degree or certificate program of study at UniversityCollege.DU.edu.
Frequently Asked Questions
Why is tuition assistance such a powerful benefit?
Tuition assistance lets employees upgrade their skills with little or no out-of-pocket tuition cost. This can lead to faster career advancement, higher earnings, and greater job satisfaction while helping employers build stronger teams.
How can students align DU courses with employer reimbursement timelines?
College of Professional Studies offers multiple terms each year, making it easier to fit courses within a calendar year for reimbursement. With careful planning, learners can complete classes and qualify for maximum tuition assistance before benefits reset.
What should someone do first if they think they have this benefit?
They should check with Human Resources to understand eligibility, covered programs, and annual limits. From there, they can connect with DU advisors to map a degree or certificate plan that fits both their goals and their employer’s guidelines.
