7 Companies with better tuition reimbursement programs than Starbucks
Starbucks' new tuition reimbursement is good — these companies are better.
Starbucks just rolled out their new tuition reimbursement collaboration with Arizona State University. The program states that all Starbucks employees, both full time and part time, will receive full tuition reimbursement once they're at a junior or senior grade level. The only downside is the employees must complete 21 credits with ASU prior to receiving the payout, which may cost more than $10,000. While Starbucks' new program as a whole is a wonderful opportunity for aspiring graduates, it's not the only one out there. Here are seven companies that have Starbucks beat out.
1. Chevron Corporation
The multinational energy corporation cares about the employees and the future of the employees. They offer tuition reimbursement of up to 75 percent for approved external educational pursuits. And no, you won't necessarily be working at the corner Chevron gas station to receive this benefit. The company hires those who specialize in engineering, information technology, marketing, accounting, sales, human resources and more.
United Parcel Service, best known as UPS, is similar to Starbucks in that they offer tuition reimbursement to part-time employees. In 2010, UPS provided $24 million in tuition reimbursement to students, plus invests an average of $300 million per year on training programs offered within the company.
3. Wells Fargo
JP Morgan Chase only offers assistance to "top performers," but Wells Fargo offers $5,000 annually in tuition reimbursement to everyone. With the average cost of tuition at a public university for state residents being just under $9,000 per year, this is a large chunk of money that employees are not responsible for.
4. The J.M. Smucker Company
You read that right. The company known for jellies and ice cream toppings is incredibly generous when it comes to the education of their employees. They offer up to 100 percent reimbursement of tuition expenses for courses approved by the company. Sounds like a sweet deal to us.
5. UnitedHealth Group
UnitedHealth Group offers tuition reimbursement to employees who work at least 20 hours per week. Students in a program that's job related can qualify for up to $5,250 each year. Any company that goes above and beyond to help out part-timers is a winner in our book.
Raytheon, a major defense contractor with customer success as their mission statement, offers a one-of-a-kind tuition reimbursement program to employees. Full-time employees are eligible for $10,000 each year in assistance towards certificates and degrees relevant to their position. Since the average cost of tuition is less than that, we think Raytheon's deal is top-notch.
And finally, one of the biggest and fastest search engines — Google — offers one of the best tuition reimbursement programs there is. As long as you work for the company full time and pass all your classes with A's or B's, up to $12,000 per year is yours for the taking.
Sure, Starbucks' new program has a few advantages that most companies don't — like that of being able to choose a major of your choice and having no commitment to work at Starbucks afterwards. But as you can see, they're not the only company looking to further the education and the future of us Americans.