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That $5,250 is the federal cap on the amount of tax-free money that employers may offer to help defray employees’ qualified costs for their own education, including tuition and fees.
DOD Tuition Assistance is a US Department of Defense (DOD) program that funds higher education programming for US military servicemembers. Currently, DOD TA funds servicemember's college tuition and fees, not to exceed $250 per semester credit hour or $166 per quarter credit hour and not to exceed $4,500 per fiscal year, Oct. 1 through Sept. 30.
For instance, employers who offer student loan repayment assistance can do so tax-free up to the $5,250 limit. Plus, offering these benefits may help recruit, engage and retain employees.
Up to $5,250 in tuition reimbursement annually is tax-free for employees and employers. If you’ve already taken out student loans, many employers pay off all or part of employees’ student loans.
Guild, formerly known as Guild Education, is a private company headquartered in Denver, Colorado that is employed by Fortune 1000 companies to manage their education assistance benefits. [2] Guild works for corporate employer clients to facilitate direct payment for courses to education provider clients [ 3 ] [ 2 ] and offers marketing services ...
Tuition.io is an American company that enables other companies to provide employer-paid student loan contributions as an employee benefit. The company is headquartered in Santa Monica, California . Tuition.io's customers include Fidelity Investments , [ 1 ] Chegg , [ 2 ] and Staples . [ 3 ]
Students should seek part-time jobs with companies that offer tuition reimbursement. Chipotle and McDonald’s offer up to $5,250 a year to eligible part-time workers. Starbucks will cover the ...
Companies can recruit and retain employees by offering them education assistance and employee tuition discounts. [96] Guild Education is a for-profit company that works with employers such as Walmart and Disney to offer tuition assistance from several colleges, including University of Arizona Global (formerly Ashford University ), Purdue ...