Google's Tuition Reimbursement Policy: Paving the Way for Employee Growth

Obtaining an MBA is a significant investment, with some programs costing over $250,000. Financial aid, such as tuition reimbursement, can be a welcoming sign for those wanting to learn at the very best business schools. Many Fortune 500 companies offer programs to help pay for their employees’ MBA degrees through full sponsorships, tuition reimbursement, or guaranteed annual contributions directly to the university. Google's parent company, Alphabet, offers tuition reimbursement, which includes the ability to apply to an MBA.

Understanding Tuition Reimbursement Programs

Tuition reimbursement programs are not new, but they are on the rise. Companies like AT&T, Chipotle, and Starbucks offer these in their benefits packages as a tool to recruit and retain quality people. If you’re considering going back to school as an opportunity through your employer, you should get all the facts up front. It is important for you to take time to think about your career future and how any MBA may or may not advance it. If the return on investment (ROI) makes sense, then the degree certainly can lead to a great future.

Key Questions to Consider

Before diving into a tuition reimbursement program, it's essential to ask the right questions:

How much will my employer cover? Employers can provide up to $5,250 in educational assistance per year, tax-free, though they may offer more.
Which costs are covered? Some programs cover tuition, fees, textbooks, and required supplies, while others only pay for part of what you need.
Do I have to pick a degree program? Some employers only pay for undergraduate and graduate degrees, but not certificate programs. Others may provide reduced reimbursement if you don’t earn an accredited degree.
Which schools can I attend? Identify schools approved for tuition reimbursement by your employer.
Must I keep a minimum grade point average? Employers may require a minimum GPA and regular check-ins to ensure you’re performing well in your classes.
Is there a payment schedule or timeline? Determine the payment timeline, especially if your employer is paying upfront.
Am I limited to certain fields of study? Some employers may only provide tuition reimbursement for programs directly related to their company’s industry.
What if I’m considering another job? Find out how long you must remain an employee following graduation and reimbursement.

Google's Tuition Reimbursement Program

Alphabet, Google's parent company, offers tuition reimbursement, which includes the ability to apply to an MBA.

Kadeem's Experience with Google's Program

Kadeem, an Atlanta-based Googler and part-time MBA student, shared his experience with Google’s tuition reimbursement program. He stated, "Google's investment in me has truly changed my life. I am so proud to have been a part of a company that sponsored me in my personal and professional development."

Fortune 25 Companies Offering MBA Assistance

Many Fortune 25 companies offer tuition assistance programs for employees seeking an MBA. While some companies cap their tuition assistance programs at $5,250 per employee per year due to IRS regulations, others offer more substantial support.

Alphabet: The parent company to Google, Alphabet offers tuition reimbursement, which includes the ability to apply to an MBA. The company advertises the program with an employee who is seeking a part-time MBA.
Apple: Apple offers tuition reimbursement for select education expenses, including tuition-up to $5,250 annually, according to Salle Mae.
Bank of America: Bank of America’s tuition reimbursement program offers up to $7,500 annually for eligible graduate courses, with up to $5,250 of that amount being tax-free. In addition, the program provides exclusive university discounts and unlimited access to free, personalized academic advisory services.
Cardinal Health: Cardinal Health has a tuition reimbursement program for select programs. After six months of employment, individuals may also be eligible for $50/month in student loan reimbursement.
Cencora: After working at Cencora for at least 6 months full time, employees can get up to $5,250 in tuition assistance for approved courses and books. Through its partnership with Rasmussen University, individuals earn an MBA potentially free if they are awarded the Professional Achievement Grant.
Citigroup: Citigroup’s tuition assistance program covers qualified expenses and fees up to $5,250 per calendar year for undergraduate and certificate programs. However for MBA and graduate level degrees, it offers up to $7,500, subject to applicable taxes.
Centene: Centene offers tuition reimbursement to full-time employees to pursue degrees, including master’s programs. The company also has a partnership with Lindenwood University, allowing employees to get $80 off per credit for online or graduate programs such as an MBA.
Chevron: Involuntarily terminated employees may be eligible for the company’s surplus employee severance pay program educational assistance program-which provides for reimbursement of 75% of tuition and fees, up to $5,000. However for MBA and graduate level degrees, it offers up to $7,500, subject to applicable taxes.
CVS Health: CVS Health partners with educational institutions to provide its employers with educational opportunities. Other degrees, such as a master’s in analytics or master’s in finance, may also qualify.
Elevance Health: Elevance Health’s tuition assistance program provides $5,000 to eligible full-time associates and $2,500 for eligible part-time associates per calendar year.
Exxon Mobil: Exxon Mobile’s Tuition Assistance Program (TAP) provides students with financial reimbursement when the education opportunity has a clear and direct relevance to one’s business role.
Ford Motor: Ford Motor’s Salaried Tuition Assistance Program (STAP) offers up to $6,000 annually, plus additional funding for qualifying MBA expenses, subject to the discretion of the employee’s current management.
General Motors: Salaried and hourly employees with seniority are offered tuition assistance up to $6,000 in a 12-month period. Exact eligibility may depend on union status.
Home Depot: Home Depot’s Tuition Reimbursement Program covers up to 50% of tuition, fees, and eligible expenses for master’s degrees. The program offers up to $3,000 annually for full-time hourly associates, $1,500 for part-timers, and $5,000 for salaried employees.
JPMorgan Chase: J.P. Morgan Chase provides up to $7,500 per year in tuition assistance for programs from top-tier institutions. This benefit also includes full coverage or reimbursement for textbooks and fees. Plus, the company offers personalized 1:1 guidance for selecting the right program in the application process.
Kroger: Full- or part-time Kroger associates can get up to $21,000 in tuition reimbursement over the course of their career-covering everything from GEDs to PhDs.
Marathon Petroleum: Marathon Petroleum’s Educational Reimbursement Plan supports eligible degree programs, including MBAs and executive MBAs. The plan offers up to $9,000 per year for both programs. Reimbursement covers tuition, required textbooks, supplies, and certain fees, provided the degree aligns with the employee’s role or future potential within the company.
McKesson: This pharmaceuticals and healthcare supplies company will reimburse an employee $5,250 per year pre-tax, which can be used toward an MBA. Courses must be related to an employee’s current job or prepare them for another job at the company.
Microsoft: Microsoft offers up to $10,000 per employee annually to cover the cost of tuition, books, and other fees for any course related to business at the company, including an MBA program. There is no lifetime cap on the amount of tuition reimbursement an employee can receive. The company also has partnerships with universities that offer debt-free programs, opportunities to defer tuition payments, and access to discounts.
UnitedHealth Group: UnitedHealth Group sponsors a healthcare MBA program with the University of St. Thomas. The fully-funded cohort program is offered to 32 employees every two years. HCMBA students must stay with the company for three years or pay back a prorated amount of tuition. The company also offers up to $5,250 per employee per calendar year in tuition reimbursement for accredited programs. Tuition reimbursement covers courses related to any UHG job, not just an employee’s current role, and the company also offers employee discounts of 10% to 15% for tuition at several schools.

Fortune 500 Companies with Partnerships and Sponsorships

Some Fortune 500 companies go beyond reimbursement by offering partnerships and sponsorships.

Allstate: Allstate will fund up to $5,250 annually to select master’s degrees at universities like Southern New Hampshire University, University of Maryland Global Campus, and LSU Online-all of which offer MBA programs. The company will also pay 100% tuition for select bootcamps and professional certifications.
Capital One: Capital One provides up to $5,250 per year in tuition assistance for tuition, books, and fees at over 200 schools and programs that are part of the Bright Horizons Education Network; employees can also get discounts at participating schools.
Disney: Eligible hourly employees may earn an MBA through the Disney Aspire program, which pays 100% of tuition upfront for in-network schools. Salaried employees can also participate in the company’s educational reimbursement program.
General Dynamics: General Dynamics provides tuition reimbursement for graduate-level degrees if it is relevant to one’s job and is approved by management. General Dynamics Mission Systems also has a partnership with the Stevens Institute of Technology, giving employees a discount and application fee waiver for part-time programs.
State Farm: State Farm covers up to $10,000 per employee annually toward graduate programs. Eligible employees must be with the company for six months. Some State Farm employees are also eligible for executive MBA sponsorship.
Walgreens: While Walgreens doesn’t offer tuition reimbursement, it does partner with several universities, such as the University of Maine and the University of Maryland Global Campus, to offer discounts ranging from 10% to 40% for employees-including for MBAs.

Navigating the Financial Aspects of an MBA

While companies offer tuition assistance, it may be capped at the IRS pre-tax limit of $5,250, which may not cover a significant portion of a top MBA program. The annual cost of tuition for an online MBA program is around $21,000, while in-person traditional programs average over $40,000 per year.

Luckily, part-time, executive, and online MBAs are largely designed for working professionals, with classes conducted in the evenings, on weekends, or asynchronously.

Other Funding Options

There are many ways to pay for your MBA, including self-payment, loans, and scholarships. Check out guides to paying for an online MBA for more advice.

Read also: Affording ECU

How to Ask Your Company to Pay for Your MBA

In order to convince your company to pay for your MBA, you must be able to explain how it will help you become a more effective employee in your current role and demonstrate your commitment to grow as a professional. Do your research on emerging skills and the ones you can build upon in your MBA experience.

Read also: Withdrawals for College: A Guide

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