If you work at a college or university, you might want to consider attending that school to save money. Many schools offer free part-time or full-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 school to school. Generally, the following guidelines apply:
- You may not be immediately eligible for benefits as a new employee
- You may be restricted in your 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 you receive tuition benefits, you may also be eligible for financial aid and should complete the FAFSA on time each year
- Some professional programs may not be eligible for tuition benefits
- Employment generally does not guarantee acceptance into a program of study at the school
With many companies or schools, tuition reimbursement and tuition benefit programs both offer similar benefits to the children of their employees.
Schools, in particular, are most likely to offer free, full-time tuition to dependents of faculty and staff members. They may also have reciprocity agreements with other schools so that you have a choice of where you want to attend.
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