Tuition Assistance Programs
Scholarship America designs and manages tuition assistance programs (TAPs) and other educational assistance benefit programs to support corporate and organizational employees.
Tuition assistance benefits help employees and their families pay for higher education, whether through additional skills training, completing a first degree, or pursuing a graduate-level education.
Employee Recruitment and Retention with Education Benefits
Adding an educational assistance program to your employee benefit package can help attract and retain talented employees. Our team of experts can help you design and administer a benefit program that serves both your company’s retention objectives and your employee’s educational goals.
What is a Tuition Assistance Program?
A Tuition Assistance Program (TAP) is a benefit that helps employers provide financial assistance to employees taking education courses that meet specified criteria. Tuition assistance is not only part of a corporate benefit package, but is also an effective tool to support strategic talent management and learning and development initiatives.
There are two ways a company can provide financial assistance through a tuition assistance program:
- Tuition Reimbursement: An employee pays for the course and then receives payment from the company once the course is completed and specified criteria are met.
- Prepayment: A company pays for the course prior to the employee completing it.
Step 1: Tuition Assistance Program Setup
We design and develop a company-branded website and all necessary materials for your employees to get the information they need about your tuition assistance benefit program.
Step 2: Application Review and Payments
We take care of all the administrative duties for you, from reviewing employee applications and determining eligibility to sending out payments.
Step 3: Reports and Tracking
Access to standard reports and usage history are all available to help you to determine the success of your educational assistance program. Whatever data drives your decision-making -- we can provide it.
Starting a tuition assistance program with Scholarship America
Scholarship America’s dedicated team of educational assistance professionals can manage your tuition assistance program for you, so you can attract the right kind of talent. Your benefits team can focus on building a quality workforce from within instead of managing the complex policies and procedures of educational assistance programs.
The total implementation time of a tuition assistance program is dependent on the criteria required to manage the program. Once the program details are finalized and approved by an organization, the implementation time is generally 4-12 weeks -- and every step of the way, our higher-education experts can help your team succeed.
Promoting educational assistance benefits within your company
If your employees don’t know about it, they won’t use it. Scholarship America can help you promote your program internally to assist in retaining your top employees. As a full-service partner, we provide program branding, marketing and everything in between to elevate your program to the next level. Our services encompass customized digital and traditional internal marketing materials for your company’s educational marketing program.
Partnering with higher education to lower tuition costs
We have a growing number of schools involved in our Tuition Reduction Network. Schools within our network offer tuition savings to employees looking to achieve their educational goals with less debt. When you partner with us, you’ll get full access to the Tuition Reduction Network at no cost.
Understanding IRS regulations for reimbursing TAP participants
Our experts know tax regulations for educational assistance programs. For example, the average maximum reimbursement allowed per participant in tuition assistance programs in the United States is on average just under $5,000. Our tuition assistance program management services help you and your employees get the most out of your company’s investment in their education.