Going back to school is expensive, regardless if it is in a traditional university or online college. Thankfully, as a working adult, there are ways to lessen the cost. One of those is by having your employer pay the tuition. If you want to improve your chances of getting your work to cover the fees for your education, try these tips.
The process of lining up internal support, preparing for GMAT, choosing the right program, and maneuvering yourself toward a position at work that would give you better chances of winning tuition reimbursement can take over a year. This was according to Jacob Zigelman, from Pacific Gas and Electric. Zigelman’s employer paid for his MBA program.
Show its benefits to your employer.
Employers are not keen on paying so that their employees could have better chances of jumping to their competitors. So, James Marsh, from MonaVie, made a presentation about how his education could add value to the company. Marsh said that whenever he comes back to work from classes, he brings new ideas with him. His professors and classmates, who he contacts with his questions, have also become his new resources.
Commit for several years.
Marsh negotiated a deal with his employer. The company will pay for his education, and in return, he agreed to stay with them for a minimum of five years.
Remind your employer about the tax breaks.
The Internal Revenue Service (IRS) has a policy that allows employers to subtract their employees’ tuition reimbursement. The maximum annual amount for each employee is $5,250.
Look beyond the money.
Larry Schooler is a mediator in Austin, Texas. He receives a partial subsidy for his graduate program in conflict resolution that he takes at Nova Southeastern University. According to him, there is so much room for negotiation on things like this.
Schooler said that money is nice. However, without time off, he would really struggle, mainly because his chosen school requires its online students to go to their Fort Lauderdale campus in Florida for summer classes. If the company can’t provide financial assistance, Schoolers suggests negotiating alternatives like time off or comp time.