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New Study Shows the Lasting Impact of Tuition Assistance

Bright Horizons Family Solutions | Watertown, Massachusetts| January 8, 2018

EdAssist®, a division of Bright Horizons Family Solutions® (NYSE:BFAM), released new data today that shows the impact that education assistance programs have on employee engagement, career outcomes, and employee loyalty.

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Bright Horizons Helps Launch Employer Guide on Student Loan Repayment Assistance with Massachusetts Working Group

Bright Horizons Family Solutions | Watertown, Massachusetts| November 29, 2017

The Massachusetts Student Debt Working Group, an initiative created by the Massachusetts Attorney General and the Greater Boston Chamber of Commerce, along with Bright Horizons and other representatives from area public and private institutions – released the “Student Debt Loan Repayment Employer Guide.”

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Take Cobwebs Off Employee Tuition Assistance Policies

Bloomberg BNA | December 6, 2016 | Martin Berman-Gorvine

Tuition assistance can help employers hold on to employees and improve their skills, but the programs must be designed properly, consultants say. Learn how a third-party administrator can provide crucial help.

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The Latest Perk to Attract Talent

Workspan Magazine | Issue 10, 2016 | Chris Duchesne

In an article appearing in Workspan, The Magazine of WorldatWork, EdAssist clients and executives discuss how employers are taking on the loan crisis — and what impact it's having on their talent goals.

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the work perk that's generating buzz: paying down employee student loan debt

Credit Karma | September 8, 2016 | Mika Bhatia

Employers are starting to take note of the negative effects of student loan debt on employees' quality of life, and many are choosing to do something about it. Learn more about who's offering these programs and how workplaces are being impacted.

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How Hospitals are Helping Employees Tackle Medical School Debt

HR Pulse | Fall 2016 | Georgio Bantos

Hospitals nationwide are exploring the advantages of student loan repayment programs to attract and retain top talent as Boomers are retiring and recent graduates are taking over the frontlines of patient care.

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Aetna Will Give its Employees a Break on Student Loans

USA Today | August 10, 2016 | Athena Cao

Aetna employees with student debt are about to get up to a $10,000 break. “By helping ease their financial burden, our employees can better focus on our mission of building a healthier world,” said Mark Bertolini, chairman and CEO of Aetna. It's joining the about 3-4% of all U.S. companies that contribute to employees’ student debt payments.

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Big Education Bills Affecting All Generations in the Workplace

Employee Benefit News | June 6, 2016

Student debt isn’t just negatively affecting people’s ability to save enough for retirement. It’s also making it very difficult for people to buy cars or houses, open up a credit card, or start a family.

According to a recent survey by Kelton Global, on behalf of EdAssist, 72% of individuals with student debt said it was hurting their personal relationships and stalling their careers. Seventy-eight percent said that it has impacted their ability to save for retirement.

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One of the Biggest Purchases Americans Make Could Be Changing the Way They Live Their Lives

Business Insider | June 6, 2016 | Jessica Mai

College tuition is one of the biggest purchases many graduates will ever made — and it's costing them their "American Dream."

In fact, 78% of borrowers agree student debt has impacted their ability to save for retirement, 50% have been held back from buying a house, and 21% are struggling to start a family, according to a 2016 survey from EdAssist that examined the perspective of 1,000 Americans with student loans.

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Survey Shows the Impact of Student Loan Debt on Americans’ Major Life Choices and the Future of the Economy

Bright Horizons Family Solutions | Watertown, Massachusetts | May 16, 2016

A new survey released today shows that student loan debt is affecting people’s lives in unexpected ways – and the entire economy as a result. From newly- minted grads to Baby Boomers nearing retirement, 72 percent of people with student debt say it impacts their life every day, and 77 percent say it’s made it more difficult to “live my life the way I want.” With 35 percent of job openings expected to require at least a bachelor’s degree by 2020, this new data suggests a troubling outlook for current and future generations of borrowers and their employers.    

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Paying Their Workers’ College Tuition Can Pay Off for Companies

Money | April 2016 | Kaitlin Mulhere

Companies that pay for some of their employees’ college degrees or certificate programs can recoup that money and then some, according to a study released on April 25th.

The study focused on the big health insurer Cigna and found that for every dollar it spent on its educational reimbursement program, it got back $1 and saved another $1.29 through reduced employee turnover and lower recruiting costs.

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More employers are kicking in money to help workers pay down student loans

The Kansas City Star | April 2016 | Steve Rosen

Soon-to-be college graduates who are busy lining up job interviews and weighing offers should check out employer benefit packages for a new perk — student loan repayment plans.

To make it easier for employees to pay off college loans quicker and to recruit and retain recent grads, more companies are adding repayment plans to their package of benefits that include health care and retirement accounts.

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3 Ways Attorneys Can Shave Down Law School Debt

Law360 | March 2016 | Natalie Rodriguez

Young lawyers are increasingly shouldering six-figure student loan debts that ultimately impact both their financial and mental well-being. But as a recent loan discharge win in court shows, there are ways to ease the burden.

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Medical, Dental, 401(k)? Now Add School Loan Aid to Job Benefits

The New York Times | March 2016 | Tara Siegel Bernard

With more and more organizations beginning to offer student loan repayment opportunities, both employees and employers have been reaping the benefits. Employees receive support to pay off their debt, while employers are addressing the challenge of attracting and retaining younger workers.

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Weigh Pros, Cons of an Employer Paying Your Law School Debt

U.S. News | March 2016 | Farran Powell

Companies nationwide are starting to offer a new benefit to debt-ridden employees, assisting them with paying down their student loans. And, law firms are leading the charge in offering this hot new perk, benefit experts say.

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These 6 Companies Give Their Employees Unlimited Tuition Reimbursement | March 2016 | Claire Zillman

These six employers on this year's Fortune's Best Companies to Work For list offer unlimited tuition reimbursement to their employees. While the benefit is appreciated among all employee demographics, it is especially popular among Millennials, the fastest-growing cohort of today's workforce.

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How to Win the Battle for Health Care Talent

HR Pulse | Spring 2016 | Georgio Bantos

As health care prepares for the experienced Baby Boomer nurses — who currently make up 53 percent of working nurses — to retire, succession planning for front-line leaders will be key to minimizing the effect of the pending workforce shortage while still ensuring the highest standards in patient care.

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More Employers Help Workers Pay Student Loans

The Salt Lake Tribune | January 13, 2016 | Joseph Pisani

Employers are discovering that making it easier for workers to pay off their student loans helps to attract and keep a happy workforce. More and more companies are helping workers refinance their debts at better rates, giving employees extra cash for loan payments, or even paying their workers' lenders directly.

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Easing the Student Loan Debt Burden? Points to Consider

Society for Human Resource Management | January 7, 2016 | Joanne Sammer

With the average new college graduate holding roughly $35,000 in student loan debt — and even more for those with a graduate degree—employers are looking for ways to help ease this financial burden. Although the Society for Human Resource Management’s 2015 Employee Benefits survey showed that just 3 percent of employers offer to help employees pay down their student loan debt, a growing number of employers have announced they will be offering this benefit in the future, and more are thinking about providing it.

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To Attract Talent, More Companies Send Employees to School

Christian Science Monitor | November 23, 2015 | Jessica Mendoza

As the labor market becomes more competitive, more companies are sending their employees to school.

Fiat Chrysler Automobiles is the latest company to use tuition assistance for employees – which for decades has been a part of many businesses’ benefits packages – as part of a renewed effort to bring in and cultivate talent.

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Tuition Reimbursement Programs Make a Comeback

Hartford Business Journal | June 29, 2015 | John Stearns

Anthem Blue Cross and Blue Shield has added a free tuition option to its education benefits package for its 1,400 Connecticut employees, bolstering a perk that some companies are now reinstating and better aligning with their talent-management strategies as the economy improves and labor market tightens.

"The big focus is on talent development and investing in our employees, providing them another means to higher education for career advancement," said Anthem spokeswoman Sarah Yeager. "It's another way to be able to do that."

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Anthem Joins Growing Roster of Companies Offering Free College Tuition to Employees | June 2, 2015 | Claire Zillman

The bandwagon of companies offering employees free college just got a bit bigger. Health insurance company Anthem on Tuesday announced that it will offer its 55,000 full and part-time workers free tuition towards an associate’s or bachelor’s degree through College for America at Southern New Hampshire University.

As the labor market has tightened in the past 12 months or so, more companies are interested in offering employees tuition assistance, said Mark Ward, vice president and general manager for EdAssist, a company that advises employers on their tuition assistance programs. The increased interest comes after a decline in such programs following the recession. A study of nearly 300 employers commissioned by EdAssist found that 71% of companies offered tuition benefits in 2012, down 16% from 2009.

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Magnet Status: Reinventing the Nurse Workforce Through Career Development and Tuition Assistance

ASHHRA & HR Pulse Magazine | May 15, 2015 | Georgio Bantos

Not too long ago, the nation was experiencing a nursing shortage. The American Academy of Nursing conducted a study and identified "Forces of Magnetism," characteristics shared by health care organizations that continued attract and retain nurses in great numbers. Ultimately, these became the basis for the Magnet Recognition Program. "Magnet is the ultimate seal of approval in this industry," said Dionne Dixon of Hackensack University Medical Center. "As a recruiting tool, the seal lets nurses know they will be working alongside the best in their field." 

In 2011, the Magnet program made revisions, aligning its criteria with IOM recommendations for a larger proportion of BSN nurses. By 2020, hospitals seeking Magnet status will need to ensure that 80% of their nurses hold at least a BSN. HackensackUMC needed approximately 400 nurses to earn a BSN, and the hospital wasn't naive to these barriers. They formed a partnership with EdAssist, a provider of tuition assistance management services. EdAssist assessed HackensackUMC's existing tuition assistance program and revised it to ensure its use as a highly strategic tool: it would not only support the medical center's mission of having its current nursing staff obtain BSN degrees, but align the academic progression of its adult learners to their current and future skill gaps long-term.

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Workplace Culture a Benefits Differentiatior

Employee Benefits News | May 11, 2015

When looking to attract and retain employees – and when benefit programs are mostly comprised of standard health plans and standard 401(k) programs – employers should consider workplace culture as a key differentiator.

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Chrysler to Offer Free College Tuition to All Dealership Employees | May 4, 2015 | Claire Zillman

In a Starbucks-esque move, the auto company will pay for workers’ college degrees in a bid to decrease turnover. The new benefit is geared toward attracting and retaining the right kind of talent, says Al Gardner, vice president of dealer network development and president and CEO of the Chrysler brand, FCA US. Dealership showrooms experience annual turnover between 45-60%, Gardner says. 

In the last 12 months, as the labor market has tightened, more companies are interested in offering employees tuition assistance, says Mark Ward, vice president and general manager for EdAssist, a company that advises employers on their tuition assistance programs. Ward says that more recently, employers are realizing that the benefit is considered especially valuable by a growing segment of the workforce: millennials.

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Bright Horizons Named a Top Work Place By the Denver Post

Bright Horizons Family Solutions | Watertown, Massachusetts | April 13, 2015
Bright Horizons Family Solutions®, a leading provider of high-quality child care, early education, educational counseling and other services designed to help employers and families address the challenges of work and life, today announced it has been named to the Denver Post's annual "Top Places to Work" in Colorado.
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Millennials Desperate for Financial Stability, In Search of Employer Support to Get There

Bright Horizons Family Solutions | Watertown, Massachusetts | April 8, 2015

What do Millennials want? It’s the question being asked in every executive suite and human resources office today. And for good reason – this group of workers, ages 18 to 35, will constitute the largest segment of the U.S. workforce as of this year . They’re also carrying significantly more student loan debt than past generations, impacting how they view the world and employment.

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What Millennials Want At Work | April 7, 2015 | Susan Adams
EdAssist has just released a survey of 1,000 millennials (age 18-35) that shows that financial security is their No. 1 concern, with 71% saying they would prefer a retirement savings plan over other financial perks like company equity and cell phone reimbursements.

EdAssist also asked respondents if they had to choose between two similar jobs, would they pick the one with strong potential for professional development or one with regular pay raises. Fifty-nine percent picked professional development.

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Bright Horizons Family Solutions | Watertown, Massachusetts | March 5, 2015

Bright Horizons Family Solutions®, a leading provider of high-quality child care, early education and other services designed to help employees and families address the challenges of work and life, today announced that it has been named to FORTUNE’s  2015 "100 Best Companies to Work For" list. This is the 16th time the company has been named to the list, which recognizes organizations that have exceptional workplace cultures.

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Educational Requirements Rising

HR Executive Online | January 27, 2015 | Jill Cueni-Cohen

A jump in hiring this year will call for more candidates with higher education degrees, according to new research from CareerBuilder. Thirty-six percent of employers plan to increase their full-time, permanent roster this year, which reveals a significant boost from last year’s 24%. Fenlon says education itself is being transformed as companies begin to hire more people with advanced degrees. “There’s an increasing scrutiny and questions are being raised about the relevance of undergraduate preparation,” he says, acknowledging that schools are responding. “Colleges are transforming how they deliver learning; how they anchor it with job-ready, career-ready skills.” And investing education funding strategically makes more sense for an organization that needs workers with skills to drive the organization forward, says Jay Titus, senior director of academic and student support at EdAssist, which is part of the Watertown, Mass.-based Bright Horizons.

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EdAssist Wins Coveted 2014 “Learning In Practice” Award

Bright Horizons Family Solutions | Watertown, Massachusetts | October 6, 2014

EdAssist® today announced that it has been honored with a 2014 Learning In Practice award from Chief Learning Officer magazine. Considered one of the highest honors in the workforce development field, the “Vendor Excellence Provider” award is the only category where CLO leaders in the industry nominate qualified service providers, vendors and consultants for their work on behalf of a client organization.

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Bright Horizons Family Solutions | Watertown, Massachusetts | October 3, 2014

Bright Horizons Family Solutions today announced that its Colorado-based contact center has been certified for the fourth year in a row as a Center of Excellence by BenchmarkPortal. The Center of Excellence recognition is one of the most prestigious awards in the customer service and support industry.

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Who's In Charge of Career Planning? You | September 29, 2014 | Lisa Quast

Who is responsible for developing a person’s career? According to a recent survey, there is disagreement about whether it should be the responsibility of an individual or an employer. “The Real Story Behind Career Development: Who is Responsible?” is a joint research study conducted by EdAssist and the University of Phoenix to explore employees’ and managers’ perceptions of whose responsibility it is to drive career development. The results showed key disparities between the two groups’ perceptions.

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How Employers View an Associate Degree

U.S. News & World Report | August 4, 2014 | Briana Boyington

Community college can be a cheaper and less time-consuming way for students to earn a degree. But in a competitive job market, cheaper isn’t necessarily better. Recruitment managers say it’s imperative for students to follow and understand the trends and requirements of their desired career field to determine if their job will require a higher level of certification.

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Class Appeal: HR Executive Online Interviews EdAssist on Tuition Assistance Media Buzz

HR Executive Online | June 25, 2014 | Andrew R. McIlvaine

Seattle-based Starbucks Corp. may have delivered a caffeine-rush jolt to workplace tuition-assistance programs, the number of which has been static or in decline during the past few years due to the stagnant economy. According to SHRM's just-released 2014 Employee Benefits Survey, 54% of organizations offer undergraduate educational assistance, and 50% offer graduate educational assistance, with a maximum reimbursement allowed for tuition and education expenses of $4,591, on average. The number of organizations offering these programs is down slightly from the previous year's survey, which found that 61% of organizations provided such assistance (the survey's 4% margin of error could account for much of the difference). HR can encourage more employees to take advantage of TA programs by showing them the potential ROI from college credits, says Jay Titus, senior director of academic programs at EdAssist, a Watertown, Mass.-based firm that helps companies manage their TA programs.

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Bright Horizons Family Solutions | Watertown, Massachusetts | June 13, 2014

Bright Horizons Family Solutions, a leading provider of employer-sponsored child care, early education, and work/life solutions, has been recognized as one of the “Best Places to Work” by the Boston Business Journal. This marks the eighth year in a row that Bright Horizons has been named to the list. Bright Horizons was named to the top 10 in the “large company” category.

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Nine Companies That Offer Fabulous Educational Benefits | April 17, 2014 | Chris Couch

If you're going back to school, you could spend your days buried in scholarship applications — or simply pass the tuition bill to your boss. At these companies, employees are encouraged to earn bigger, better degrees without taking on too much student debt. Here are nine employers that offer generous educational benefits.

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EdAssist Exposes Trends and Research at SAW LIVE 2014 Conference

Bright Horizons Family Solutions | Watertown, Massachusetts | April 11, 2014

Solutions at Work (SAW) LIVE, Bright Horizons Family Solutions’ revamped annual conference, convened 113 representatives from more than 90 organizations on April 9-11, 2014, at the Trump National Doral in Miami, Florida, providing a premiere platform for individuals to connect, share thought-provoking ideas, and engage in meaningful discussions about the key issues facing today’s workplaces.

At the event, EdAssist executives and clients shared insights into the latest trends, research and best practices in tuition assistance and educational advising; benefits that are catapulting organizations’ workforces to the next level. EdAssist is a Bright Horizons solution and a leading provider of outsourced tuition assistance management services with more than 30 years of experience designing and administering successful tuition assistance programs.

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Click Here for Degree: Is Online Education More Economical?

MainStreet | February 10, 2014 | Chris Metinko

More than 6 million students now are simply opening up their laptop — instead of trudging through Old Main — to learn career skills and complete degrees. But is an online chat really the same as a visit to your professor during office hours? "First, it's important that we dispel the myth that online degrees are so vastly different from on-campus degrees," said Jay Titus, senior director of academic services for EdAssist, a provider of tuition assistance management services.

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EdAssist Welcomes EdLink

Bright Horizons Family Solutions | Watertown, Massachusetts | August 20, 2013

EdAssist is excited to welcome EdLink to our family. EdLink brings to the field nearly three decades of expertise creating successful corporate tuition management programs. With a strong track record supporting both company and employee goals, EdLink shares EdAssist’s unwavering commitment to high-ROI programs that generate savings while creating highly skilled workforces.

Joining forces ensures both the very best in educational guidance for employees and unmatched programs for employers that can be counted upon to transform tuition assistance benefits into powerful, strategic resources.

Oversight Lacking on Billions Spent on Tuition Assistance Plans, According to New Study

Bright Horizons Family Solutions | Watertown, Massachusetts | December 10, 2012

According to a new Bersin & Associates study, companies have a greater need for highly skilled workers than ever before, yet few effectively manage the money they spend on tuition assistance programs.

Today, 71 percent of U.S. companies offer tuition assistance to their employees, making it a ubiquitous part of most workers’ benefits packages. The study shows that companies must examine and redesign their programs so that they align closely with talent management strategies, especially in light of the recent economic downturn and rising costs of other benefits.

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