Concerns over mounting tuition debt has risen tobecome a central concern of many young professionals.While many companies have opted to help new hires repay thesums owed, firms that offer to help continue theirworkers' schooling forge greater loyalty, and a growing numberof companies have begun funding their own programs to promoteeducational advancement.
As a means of evaluating the tangible success of suchinitiatives, the Indianapolis-based Lumina Foundation, workingin conjunction with management consulting firm Accenture, analyzedthe education reimbursementprograms offered by multinational insurance providerCigna.
Between 2012 and 2014, more than 2,200 employees of the healthcare provider were compensated tuition costs up to $5,250for undergraduate programs and $8,000 for graduatestudies. So long as they were enrolled in fully accreditedinstitutions, corporate policies would not interfere with thestudents' choice of majors nor their selection ofschools, whether private or public.
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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.
