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Sunday, May 3, 2009

Finding Ways to Pay College Tuition

Saving for college tuition these days pretty much requires parents to start saving for our college futures as soon as we're born. But there programs out there to help pay for college.
A great way to pay for college tuition is to start your chosen career as soon as possible. Many employers offer tuition assistance programs. When starting my career in banking my employer, Bank of America, paid my tuition plus for all of my books.

Generally, you need to choose a major in your career field. Of course this should seem like common sense, but it is what most employers require. They want you to be long term employees if they are shelling out the money to pay for your education. In my case, for example, my finance degree fit in perfectly, but accounting, business, etc. would have worked as well. Getting a medical degree would not work with banking for instance.

Most tuition assistance programs require you to pay the tuition upfront and then you are reimbursed at the end of the semester. But the major requirement for reimbursement is you have to pass each course with a "C" or better to get your tuition paid for.

Usually, each semester will relatively cost the same. So once you make the initial investment yourself you can keep using the same money over and over again once you are reimbursed at the end of the semester.

If you have chosen your career field definitely check with prospective employers to see if they offer tuition assistance programs. Even if you don't want to get a degree you can still take a course here and there and help make yourself a more knowledgeable employee. Remember education is power.

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