Scholarship Programs Available From Employers

There's a side perk to working at McDonalds besides easy access to the Dollar Menu. The fast food giant also has a program called the National Employee Scholarship Program. It will give 52 McEmployees anywhere from $1,000 to $5,000 a year for tuition.

In return, the employee must work have work at one of the restaurants a minimum of 15 hours a week for a period of no less than four months. This program is good for any sort of accredited school, from getting one's GED to attending an online college.

Prospective students may not realize this, but their biggest source of financial aid could be their place of employment...and by that we don't mean their weekly paycheck either. Many companies out there will gladly help pay the way for their personnel to advance their education, and pay a regular salary while they're at it.

What an employee should do first is go to their human resources office and find out if their company does offer such programs. You'd be surprised at the range of companies that do offer them. They include such fast food operations as McDonald's and Chick Fil-A, Humana, the Queens (NY) Public Library and pharmaceutical giant Glaxo SmithKline. Many a Wall Street bank or investment house also likes it if their employees go to online schools to get their MBA's. If they do, the assistance primarily comes in four forms:

1) Direct pay tuition assistance - in this case, the employer pays for the course, certificate, or degree program up front. The employee doesn't have to pay anything. In turn, the employee is required to fill a specified course load, usually with a short list of online schools, within a prerequisite amount of time.

2) Reimbursed tuition assistance - The employee must first complete the program, then the employer pays for the course, certificate, or degree program. The employer may pay after each course or only after the certificate or degree is completed. This method is a surefire way the company sees its personnel fulfill their course load before paying out.

3) Educational/Professional Development travel assistance - the employer may pay for travel expenses related to educational programs including courses at distant institutions or conferences/conventions. The medical, political and financial worlds are particularly known for these.

4) 529 College Savings Program - One could call this a kind of savings program. As part of an employee benefits package, the employer may match contributions made by the employee into the program. It's a good way to insure employee loyalty and longevity.

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