If you work at a college, your child might want to consider attending that school to save money. Many colleges offer employees, and/or children of employees, free full- or part-time tuition as an employee benefit. There may be an application or a nominal processing fee involved but generally the benefit far outweighs the cost. As with tuition reimbursement, there are variances from college to college. Generally, the following guidelines apply:
- You may not be immediately eligible for benefits as a new employee
- Your child may be restricted in choice of class times, and/or may have to wait until after the regular registration period has ended
- Graduate benefits are typically taxable and may have an impact on your taxes withheld at different points in the year
- Tuition benefits may not pay the full tuition rate
- Even though receiving tuition benefits, your child may be eligible for financial aid and should complete the FAFSA on time each year
- Some of a college's most popular programs or professional programs may not be eligible for tuition benefits
- Employment generally does not guarantee acceptance into a program of study at the college
Colleges, in particular, are most likely to offer free full-time tuition to dependents of faculty and staff members. Colleges may also have reciprocity agreements with other colleges so that your child has a choice of where to attend.
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