Deferred Payment Programs

Many schools provide deferred payment programs to accommodate those students that have corporate reimbursement. You should ask the schools that you are considering attending whether or not they offer this type of program.

Generally speaking, a deferred payment program covers the portion of your tuition that is corporate-sponsored. For example, if your company covers 50% of your educational expenses, then a university's deferred payment program will allow you to defer paying 50% of your tuition until two weeks after the end of the term. Most companies require transcripts in order to reimburse for your tuition, and most schools will grant you a two week "grace period" from the release of your grades until payment is due on the corporate sponsored portion of your tuition.

In order to qualify for this benefit, you need proof of reimbursement from your corporation, which usually comes in the form of a written letter from the human resources department. Check with your HR department to see if the company has a standard letter regarding corporate reimbursement.