4 Things to Know About Receiving Tuition Reimbursement from Your Employer

1. Tuition Reimbursement = Refund
Most companies that offer tuition assistance reimburse their employees after courses have been completed. This means that you will be expected to pay for your classes and your books upfront. If you do not successfully complete the courses you signed up for, you may never see a refund.

2. Most Companies Have Stipulations
Not all companies work tuition reimbursement the same way. Some require you to work while attending school; others make you carry a certain grade point average. Make sure you are clear on the stipulations before you sign up.

3. Reneging is Frowned Upon
Most companies do not offer tuition reimbursement out of the goodness of their hearts. They expect something in return. The majority will want you to stay with the company for a predetermined amount of time after graduation. Think twice before agreeing to this or anything else. If you renege on an agreement that you made, you could end up being liable for the full cost of your business school education.

4. There are Usually Tax Ramifications
You may want to consider talking to a good accountant before accepting tuition reimbursement from an employer. Tuition reimbursement is sometimes treated as income and may be taxed that way.