Educational Reimbursement is a company-sponsored benefit that covers the cost of educational courses or training programs for employees. This program allows employees to pursue further education, such as obtaining degrees, certifications, or attending workshops, which can enhance their skills and knowledge relevant to their roles within the company. The reimbursement often covers tuition fees, textbooks, and other related expenses. Typically, employees must meet specific criteria, such as maintaining a certain grade point average or completing the course, to qualify for reimbursement.
For example, an employee working as an engineer might enroll in a certification course to learn about the latest advancements in their field. Upon successful completion, the company reimburses the employee for the course fees, thus encouraging continuous learning and professional development.
Related Terms:
Learning and Development (L&D)
