25 Companies That Will Help With College Expenses and Loans
About 44.7 million Americans owe money for student loans. In addition, 42.9 million Americans with federal student loan debt owe an average $36,406 each. It makes sense that companies looking to attract quality employees would offer either tuition reimbursement or student loan repayment assistance.
Acuity, the innovative lighting company, offers tuition reimbursement of up to $5,250 per eligible year after 180 days of service and full-time employment.
Student loan reimbursement and tuition assistance are both offered to employees of Aetna. For student loans, employees can get $2,000 annually, with a $10,000-lifetime cap, for undergraduate or graduate school.
Aetna employees (who work 20 or more hours per week) are eligible for reimbursement. You could be reimbursed for up to 100% of approved expenses while obtaining a college degree or taking job-related college courses, up to $5,000 for full-time and $2,500 for part-time employees.
Ann Taylor's Tuition Assistance Program provides employees with an opportunity to further their education and develop professional skills. Through this program, employees may be partially reimbursed for tuition expenses related to their careers at any of the Ann Taylor corporation companies.
Anthem offers a discounted college education for qualifying employees and their immediate family members at College for America in partnership with Southern New Hampshire University. There is a 15% tuition discount. Anthem provides up to $5,000 in tax-free reimbursement each year to cover the cost of tuition, required fees, and textbooks at an accredited institution.
Applied Materials is a leader in materials engineering solutions used to produce virtually every new chip and advanced display in the world. They offer a tuition assistance program for employees and their immediate family members in partnership with Bellevue University.
AT&T provides up to $5,250 in tuition help on an annual basis for full-time employees. Employees are eligible for reimbursement of up to $20,000 for courses leading to an undergraduate degree and $25,000 for courses leading to a graduate degree.
Bank of America
Bank of America offers up to $7,500 (and up to $5,250 tax-free) in annual reimbursement for courses related to the employee's job. Employee must have at least six months of employment with Bank of America.
Boeing employees are eligible to participate in the tuition assistance program after one year of employment. It's not required that employees take classes related to their current job—they are free to explore any path they choose.
To encourage the professional growth and education of its employees, BP helps pay for outside educational opportunities. BP reimburses eligible employees for up to 90% of the qualifying expenses for classes taken at BP-approved institutes of education.
The Capital One program for tuition reimbursement offers up to $5,250 per year toward eligible degree or non-degree courses. Tuition reimbursement depends upon your field of study and meeting eligibility requirements.
Chegg, the tutoring and textbook site, pays $1,000 annually (minus taxes) to help employees with student loans. A big plus is that there is no lifetime cap for employees, only the annual cap. In 2019, Chegg announced a new program where entry level employees through manager level, who have at least two years tenure at Chegg will receive up to $5,000 annually. Employees at the Director or Vice-President level are eligible for up to $3,000 annually.
Comcast offers up to $5,000 per year in tuition assistance. The company is helping many employees through their tuition assistance program, and in 2012 paid over $13 million in education fees.
Fiat Chrysler has partnered with the online Strayer University to offer free college education, including books, tuition, and fees, to any dealership employee who has worked for the company for at least 30 days. The employee's dealership must be enrolled in the program in order for him or her to take advantage of this opportunity.
Paying down student loan debt faster is Fidelity's goal with their Step Ahead Student Loan Assistance program. This program provides eligible Fidelity employees up to $10,000 towards their student loans.
Among the many other perks Google offers its employees—free meals, on site massages, and more—it also offers tuition reimbursement of 2/3 of the cost of job-related learning or 1/3 of the cost for personal learning.
The airline has a program called Jet Blue Scholars in partnership with Thomas Edison State University. In an online program, JetBlue pays for the full cost of the degree up until the final semester.
The Jet Blue Scholars focuses on giving adults a chance to pursue a degree that may not have had the opportunity after high school.
According to Patagonia's 2014 board report, "Annual tuition assistance to be provided to student employees enrolled in accredited college or community college programs, amounts and qualifying programs to be determined annually by the board."
Price Waterhouse Coopers (PWC) will pay up to $1,200 per year to help associates and senior associates pay off student loan debt.
Raytheon's educational assistance program will pay up to $10,000 per year for full-time employees to take approved courses or certificate/degree programs that will help them improve their job performance.
In addition to reimbursing up to 100% of college tuition costs for approved college courses, Smucker's also awards 10 renewable scholarships of $3,000 to ten children of employees each year.
Staples student loan repayment assistance offers $100 per month, up to $3,600 in total, to qualifying employees who have been nominated for this financial perk. It is available to those who have either completed college or are currently taking courses, as long the school is accredited.
Starbucks offers every employee, whether full-time or part-time, full tuition for Arizona State University's online program.
United Health Group
United Health Group offers tuition reimbursement for qualified employees of up to $5,250 per year.
Any employee of UPS is eligible for tuition from the day they are hired, and if they are hired mid-semester and are attending school, their reimbursement is prorated. Annual reimbursement is up to $5,250, with a $25,000 lifetime max.
There are many opportunities when enlisting in the U.S. military for student loan and tuition assistance. Each branch of the military has its own guidelines and reimbursement amounts.