Companies offer these programs to encourage employee loyalty and to invest in their future at the company. Firstly, tuition reimbursement helps companies hire and retain employees, which reduces their overall retention costs. More importantly, it allows them to develop the talent they already have on their team. While each company will have its own tuition reimbursement system, there are some common features.
The common exception to this standard is when big, national chains offer tuition reimbursement. For the most part, companies will only reimburse your tuition upon completion of the course. Other members limit awards to just a few new students each year. You can increase your odds of receiving a scholarship if you apply to one or two schools that offer scholarships to a large percentage of applicants.
Click here for additional information. When do I apply for admission to the colleges I select? You should apply for college admission simultaneously with applying for a Tuition Exchange scholarship. Should I expect written notification? The Tuition Exchange encourages member institutions to send a formal letter notifying you of the award and outlining the terms and conditions for receiving and continuing the scholarship. Often this notification is the Financial Aid Award or Notification.
How many semesters does the scholarship cover? Most scholarships cover four years eight semesters of undergraduate education. Institutions have the right to offer scholarships for less than four years. Some schools allow scholarships to be used for a professional and graduate study. What must I do to retain my scholarship? Those requirements vary by school.
It is your responsibility to ask and understand the renewal requirements. What happens if the employee loses eligibility? Your home institution will process recertification of eligibility each year. If the family member is considering a job change, they should visit with HR at the homeschool.
What is the dollar value of Tuition Exchange scholarships? Scholarships cover full tuition, one-half tuition for a non-resident at a public institution or a rate set by The Tuition Exchange. They do not include special fees, course overloads, or room and board charges.
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