Educational Assistance Program
Educational Assistance Program
Program Overview
The Company offers an education assistance program that is designed to provide qualified employees the opportunity for financial reimbursement for specific classes and courses. These specific programs must enhance your skills in your current or future work related areas. These specific programs must also be approved in advance by the Human Resource Director and be completed at a recognized or approved institution.
To participate in the Company Education Assistance Program, you must have completed at least 6 months of employment with the company and be a full time regular employee.
OPTIONAL: Typically, employees are reimbursed for successful completion of approved Educational Programs. If you are unable to pay for the approved course work in advance, the company may consider granting you an employee advance under these special circumstances.
Reimbursements may include expenses for enrollment fees, tuition costs, computer related fees, laboratory fees, and books. Reimbursements will not include expenses for travel, miscellaneous supplies, or your time. Reimbursement for approved fees and costs will be made after successful completion of the program as follows:
For pass / fail courses you may submit a reimbursement request for 100% of the expenses after successful course completion and a passing grade. If you fail the program for any reason, you will not be reimbursed for the related expenses.
For successful completion of graded courses you may submit a reimbursement request based on the following schedule:
Grade Reimbursement %
A = 100%
B = 90%
C (except graduate level) = 80%
All requests for educational reimbursement must be submitted on the Company Expense Reimbursement form and include all receipts and the official transcript or photo copy of the final program certificate.
Employer provided Educational Assistance up to $5,250 will not be included in your W-2 box 1 wages. You are encouraged to visit http://www.irs.gov/publications/p970/ch11.html for more information.
Since there are requirements for pre-approval, successful completion, and other details, please see the Human Resource Director for more information before making any definite plans.
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