Tuition discounts | UCnet (2024)

FAQs

Is tuition reimbursem*nt worth it? ›

Tuition reimbursem*nt programs offer clear benefits to employees looking to upskill and advance. Those who take advantage of these programs know they can turn their employer's financial support into a graduate degree that will carry them the rest of their professional career.

If eligible (see below), children of employees who are admitted to USC may attend 100% tuition free. Spouses attend at a 50% discount; spouses of employees hired on or after January 1, 2019 attend at a 25% discount.

College Tuition Reimbursem*nt

For example, an employer may reimburse 50% of tuition costs up to $5,000 per year. They will usually only reimburse for courses related to the current job, or that will improve skills for the current role.

UC's Blue and Gold Opportunity Plan will ensure that you will not have to pay UC's systemwide tuition and fees out of your own pocket if you are a California resident whose total family income is less than $80,000 a year and you qualify for financial aid — and that's just for starters.

But while tuition reimbursem*nt or assistance may seem like free money, your employer may limit how much you can receive each year and which programs you can pursue. If your benefit exceeds the annual limit set by the IRS, you may also have a big tax bill to pay on excess benefits.

If you plan to leave the company for another job shortly after completing your courses, you might have to pay back what the company paid you for tuition. You'll need to review your tuition reimbursem*nt terms and the contract you signed with your employer to see the fine details.

To qualify for the California College Promise Program, you must meet the following criteria: You must be a California resident or AB 540 eligible student (the California Dream Act waives enrollment fees for non-resident “Dreamers”). You must be a full-time student. You must be a first-time student.

Regular status employees who meet the admission requirements of the university are eligible for a two-thirds reduction of both the systemwide tuition and student services fee when enrolled in regular session courses of up to nine units or three courses per quarter or semester, whichever provides the greater benefit.

Financial Aid at USC

Nearly two-thirds of USC undergraduates receive some form of financial aid, including merit scholarships, need-based grants, Federal Work-Study and loans. Incoming first-year students from U.S. families with an annual income of $80,000 or less with typical assets will attend USC tuition free.

Under Internal Revenue Code Section 127, employers can deduct up to $5,250 per employee for tuition reimbursem*nts made through qualified education assistance programs (EAPs). EAP benefits are also tax-free for employees, making them even more attractive as part of your benefits package.

Does Costco offer tuition reimbursem*nt? ›

The Costco Employee Scholarship is open to all regular part-time and full-time employees in the United States. This scholarship is available in amounts up to $2,500 per academic year for up to four years. Applicants must be enrolled or planning to enroll in an accredited United States college or university.

By law, tax-free benefits under an educational assistance program are limited to $5,250 per employee per year. Normally, assistance provided above that level is taxable as wages.

Which UC school is most affordable? UC Merced is the cheapest UC school. Students paid an average annual net price of $13,549 in 2021-2022 at UC Merced, according to NCES. In contrast, the most expensive UC school is UC Berkeley, which charged an average annual net price of $19,257 that same year.

Still, while UC and the Cal States have been getting more money from the state, the systems have had to rely increasingly on tuition revenue to afford their education missions, reflecting a national trend. Four decades ago, California funded 80% of UC's education mission.

UC Berkeley is the most expensive, with an in-state sticker price of $48,574 and an out-of-state sticker price of $88,774. The second-most expensive campus is UC Merced. Their cost of attendance is $44,010 for in-state students and $78,210 for out-of-state students.

You must generally pay tax on any educational assistance benefits over $5,250. These amounts should be included in your wages in Box 1 of Form W-2. However, if the payments over $5,250 qualify as a fringe benefit, your employer does not need to include them in your wages.

Ultimately, whether college is worth the cost will depend on factors like your career and life goals and whether you'll need to take out student loans. While a college degree is still associated with greater earnings and wealth over a lifetime, the upfront cost is not worth it for many students.

Tuition reimbursem*nt counts toward the total financial sources of the student, so this amount will be considered when the amount of aid to be awarded is determined. As a result, tuition reimbursem*nt could mean that a student receives a lower amount of aid than they would have without it.

There are no fixed limits on tuition reimbursem*nt. Employers can contribute however much they want. Many employers set their limit at $5,250 per year– the maximum amount they can deduct from their taxes. However, employers who are especially motivated to train their workforce may be willing to contribute more.