Concerns over mounting tuition debt has risen to become a central concern of many young professionals. While many companies have opted to help new hires repay the sums owed, firms that offer to help continue their workers' schooling forge greater loyalty, and a growing number of companies have begun funding their own programs to promote educational advancement.

As a means of evaluating the tangible success of such initiatives, the Indianapolis-based Lumina Foundation, working in conjunction with management consulting firm Accenture, analyzed the education reimbursement programs offered by multinational insurance provider Cigna.

Between 2012 and 2014, more than 2,200 employees of the health care provider were compensated tuition costs up to $5,250 for undergraduate programs and $8,000 for graduate studies. So long as they were enrolled in fully accredited institutions, corporate policies would not interfere with the students' choice of majors nor their selection of schools, whether private or public.

Continue Reading for Free

Register and gain access to:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dan Cook

Dan Cook is a journalist and communications consultant based in Portland, OR. During his journalism career he has been a reporter and editor for a variety of media companies, including American Lawyer Media, BusinessWeek, Newhouse Newspapers, Knight-Ridder, Time Inc., and Reuters. He specializes in health care and insurance related coverage for BenefitsPRO.