You are using an older browser version. Please use a supported version for the best MSN experience.

Some big-name companies help cover college costs | College Connection

Courier News (Bridgewater, NJ) logo Courier News (Bridgewater, NJ) 1/22/2021 Susan Alaimo, Community Contributor

The latest statistics from Forbes indicate there are more than 45 million people who owe $1.6 trillion in student loan debt in the United States. Students who want to avoid joining this “club” should consider choosing an employer who will absorb some or all of the staggering costs of higher education.

After working just one year at the company, Amazon’s Career Choice Program will pre-pay up to 95% of tuition and fee expenses for employees who are seeking a degree or certificate for certain in-demand occupations, including nursing, aircraft mechanics, and computer-aided design. The classes are offered on site at Amazon and student-employees are also reimbursed up to $12,000 for textbooks and other expenses.

The UPS Education Assistance Program has awarded more than $620 million in tuition assistance since starting their program in 1997. Even part-time workers are eligible for $5,250 per calendar year in tuition assistance, up to a maximum of $25,000.  Eligibility begins the day you’re hired. 

READ: There's still time to submit college applications | College Connection

The Starbucks College Achievement Plan offers both full and part time (minimum of 20 hours per week) employees full tuition reimbursement as they work their way towards an online bachelor’s degree with Arizona State University. Full tuition coverage is available for all four years of study with no commitment to stay with Starbucks after graduation. Starbucks employees who are veterans can even access this benefit for their children.

College-bound students who work as full-time staff for any of the 677 worldwide private universities that are part of the Tuition Exchange Network can get full tuition and fees covered at the university where they work, or at any of the universities in the program. Some participating colleges, popular with New Jersey students, are Syracuse University, George Washington University, Tulane University, University of San Diego and Pepperdine University.

READ: Research is key for identifying best fit colleges | College Connection

Students who do not want to combine employment and education can help avoid or minimize their debt by considering the cost of attending comparable colleges. While The College of New Jersey, Villanova, Drexel and St. Joseph’s are all highly regarded schools in relatively close geographic proximity to each other, the cost of attending each may vary dramatically.

New Jersey students get “in-state” tuition at TCNJ, which is currently $16,029 for the 2020-2021 academic year, including mandatory fees. Comparable tuition and fees at nearby schools, popular with New Jersey students, are $57,710 at Villanova, $56,238 at Drexel and $47,940 at St. Joseph’s. This does not include costs for room and board. Of course, students should take into account that colleges may offer “merit scholarships” that vary greatly.

Once students are enrolled in college they should live simply, minimizing their expenses and using any extra money to pay down student debt before it even comes due.  While it might be tempting to charge spring break to a credit card, no one wants to be paying it off, with interest, years after the memories have faded.

Susan Alaimo is the founder of Collegebound Review. For the past 25 years, Collegebound Review's Ivy League educated tutors have prepared students for the PSAT®, SAT®, ACT®, Subject Tests, AP courses, and all high school subjects. Susan also guides students through the college application process and helps them personalize their college essays to stand out to college admissions officers. Visit www.CollegeboundReview.com or call 908-369-5362

This article originally appeared on MyCentralJersey.com: Some big-name companies help cover college costs | College Connection

AdChoices

More From Courier News

Courier News (Bridgewater, NJ)
Courier News (Bridgewater, NJ)
AdChoices
image beaconimage beaconimage beacon