Tuesday, May 25, 2010

Signing a Tuition Reimbursement Contract with Your Employer

Signing a Tuition Reimbursement Contract with Your Employer
When your employer agrees to pay your tuition, he will probably want you to sign a contract. Be sure to read over this document carefully and discuss any parts that raise a red flag. Don’t sign a contract that forces you to meet unrealistic terms or stay with the company for an unreasonable amount f time.
Here are a few questions to consider when reading over the contract:
How will your tuition be refunded? Some companies pay the tuition directly. Some deduct it from your paycheck and reimburse you up to a year later.
What academic standards must be met? Find out of there is a required GPA and what happens if you fail to make the grade.
How long must I remain with the company? Find out what happens if you decide to leave before the term is up. Don’t let yourself get locked into staying with any company for too many years.
What happens I stop attending class? If health problems, family issues, or other circumstances prevent you from finishing a degree, will you be required to pay for the classes you’ve already taken?
The best way to pay for an education is to have someone else foot the bill. Convincing your boss to pay your tuition can take some work. But, it’s definitely worth it.

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