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June 22, 2006
Firms Report Participation Rate of 15% in Education Assistance Programs

Seventy-four percent of employers with an education assistance plan say that 15 percent or fewer employees participate, according to a survey by the International Foundation of Employee Benefit Plans.

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The survey found that 94 percent of organizations offer some type of education assistance plan. Of those employers, 86 percent make education assistance benefits available to full-time hourly employees.

Seventy-three percent of respondents said they reimburse education-related expenses based on completion of the course and 69 percent said they reimburse based on the grade received.

More than half of respondents (57 percent) said they have no requirement for employees to pay back all or part of reimbursements for education if they leave the company. The most common timeframe companies require workers to stay on board to avoid paying back the company is one year, according to the survey.

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