Using Your Job to Pay For Graduate School

One of the potential benefits of working for a few years before you go to graduate school is that your employer may offer a tuition reimbursement or tuition assistance program. With such programs, your employer pays for all or part of your education. If you are considering going back to graduate school some time, look for a job that offers a tuition benefit.

Some questions you may want to check out about your company's tuition reimbursement program include:

• Is the benefit grade-related? In other words, do you have to earn a certain grade in the class (such as a B or better) in order to receive reimbursement?
• If the coursework has to be job-related, how does the company define job-related? Are only courses related to your current job covered, or are courses related to a potential future job within the company also covered?
• How long do you have to be employed by the company before you can use the tuition reimbursement program?
• How long will it take to be reimbursed for your tuition expenses?
• Are you contractually obligated to stay with the company for a certain length of time after you complete the course? If you leave earlier, do you have to repay the money spent on your tuition?
• Can you be reimbursed for tuition for online classes or only for traditional classes?
• Does the company pay 100% of the tuition or a lesser amount? Is there an annual cap on payments? How about a lifetime cap?

With tuition assistance, your graduate school plans may be within your reach. Find out now whether your company offers benefits of which you can take advantage.