What is TAP (Tuition Assistance Program)?

Does your employer have a policy that helps you pay for college? A tuition assistance program (TAP) or tuition refund can help you fund your education. If you are an employee of a company and your field of study relates to a current or future position in the company, your company might be able to provide tuition assistance or reimbursement.

Tapping in to the TAP

Even though many companies offer tuition assistance, only a small percentage of employees take advantage of this benefit. By contacting your company's human resources organization, you can find out if your company offers this as part of the benefits you receive.

Tuition assistance programs usually cover college tuition, but it may also cover the cost of books, professional testing and certification.

Questions to Ask About Tuition Assistance Programs

Be sure to find out what kind of courses or majors are covered by your individual plan. Some plans only cover core subjects associated with enhancing your current position. If a student wants to take courses outside of the curriculum, they may need to provide proof the classes were required for the major. Additionally, if an employee discontinues the class, they may have to immediately repay the money to the employer while waiting for a refund from the university, if they are to receive a refund at all.

Another thing to be aware of is that not all employers offer tuition assistance for graduate/post graduate level study. Make sure that your company's benefits cover all courses leading to the desired degree, and not courses leading to a certificate.

Tuition Assistance Requirements Vary by Company

Each company has their own requirements when it comes to Tuition Assistance. There might be requirements that the employee continue their employment with the company for a specific legnth of time after they earn their degree. Your company might also require that the degree/program be completed in a specific legnth of time. In addition, the employee's grades or the need to maintain a certain grade point average could impact how much tuition assistance or reimbursement is paid by the company.

Increasing Skill Sets: A Win-Win for Companies & Employess

Be sure to watch for education opportunities that are offered at your work location. Some colleges offer courses at your work location. These courses could count toward your degree.

Remember, tuition assistance programs (TAP) are a win/win for both the employee and the employer. Check out the benefits that your company offers. And if there is not an established TAP program, check with your supervisor and see if the company would be willing to pay for courses you want to take.