Companies like Target, United Technologies and Chase Bank have started to help pay tuition and fees for students who are willing to work for them during their college career or after they graduate.
Hans Beutner, a junior business major, has received similar financial aid from companies like JP Morgan but currently holds similar aid offered by Best Buy.
Beutner works full time at the company’s office in Monroe and attends college at the same time.
“This type of program really helps college students who need financial aid,” said Beutner. “The company pays for the tuition and sometimes the books too which is a huge burden off the shoulder. My work study schedule is also based in my own preference so that I can make sure I get to study and work efficiently and achieve both ends.”
The process starts with applying to one of the companies and going through series of evaluations with the company.
An application for the program can be downloaded from the company’s website.
In most cases, the company will pay for the full tuition fee and sometimes the cost for the stationaries too.
But, in some cases, an applicant has to make a payment to the college first which the company will later refund once the applicant meets the certain GPA required by the company’s standards.
Although the amount that a company can pay for each individual is limited to $5,250, tax will have to be paid for each additional $1 given in aid.
There are guidelines set by the government, which doesn’t allow this program to pay for the students lodging, meal plan, transportation and equipment except textbooks.
“Target actually encouraged me to go back to school, they are interested in my growth with the company and the next promotion I can receive I have to have a degree,” said Myesha Davis.
Davis, a psychology major, doesn’t have plans after graduation yet, but as long as she is still with Target she hopes to continue to grow with the company.