Employee "tuition benefit": i.e., Columbia pays for NYU

Paying for College
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<p>Apparently there is a network of universities that participate in a reciprocal tuition program for employees. I'm not sure how many people know about it, which is why I'm making this post. Forgive me if this has been discussed elsewhere already. I did a search and couldn't readily find such a discussion.</p>

<p>Our daughter just completed her freshman year at NYU. My husband and I recently moved to the NYC area, hoping to find better employment opportunities. </p>

<p>Fortunately, my husband found a good job right away, at Columbia University. After he was hired, he found out that as a benefit for employees of a certain level, Columbia will pay HALF of our daughter's tuition at NYU. </p>

<p>Yes, that's correct. Columbia will pay half of her tuition to NYU.</p>

<p>A friend of hers said his mother works at Johns Hopkins, and they pay for half of his NYU tuition, as well.</p>

<p>Guess what? I'm now looking for work at Columbia, too. If I get hired (and I have a very good lead right now--fingers crossed), Columbia will pay ALL of our daughter's NYU tuition, which now stands at about $35K/year. (If she were to transfer to Columbia and be accepted, they would pay for everything.)</p>

<p>No waiting period, either--the benefit begins immediately upon hiring.</p>

<p>Apparently they pay for private K-12 education, as well.</p>

<p>We did not know about this arrangement before now, and we're not at all sure how it works. But as they say, we aren't looking a gift horse in the mouth.</p>

<p>If we're both working at Columbia for the next 3 years, we will have saved more than $100,000. We will have with no college debt (she received a small scholarship and we have enough savings to cover the rest of her room/board), and our daughter will also graduate debt free.</p>

<p>Something to consider if you're wondering how to pay for an expensive private school ...</p>

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<p>My sister worked for Columbia when my D was born and stayed over 10 years and yes, the tuition aid part is great (I use to tell her that I was going to let her adopt my child so she could get a free Columbia education). It is really great that they pay 1/2 tuition for any other school (I think it may be a little more if you are in a higher band, but you can ask him to look into it). Unfortunately, NYU does not do the same thing as their tuition benefits only extend to NYU and there is a service requirement.</p>

<p>The tuition benefits (It used to be 1/2 benfit for staff positions and 100% for faculty and mangers )extend to the graduate & professional schools also. Overall, it is great news. For all the years my sister worked there she never had anything bad to say about Columbia (her mentor still works there) and was always happy with their benefit plan. You know that you can attend classes at Columbia also if you want. All the best.</p>

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<p>I just love those employee benefits of a free education; it almost outweighs some of the stresses which occur in higher education.</p>

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<p>Get a copy of "The Price of Admission: How America's Ruling Class Buys Its Way into Elite Colleges" by Daniel Golden. There is an entire chapter devoted to this little known perk for faculty and staff members at many of the country's top colleges. </p>

<p>Most top private schools give free tuition to sons and daughters of faculty members at that particular school (and in most cases, also more leniency on admissions standards for these children). Some schools also offer "portable" tuition discounts where they will pay all or at least a sizable portion of the tuition for these faculty children at another college (like Columbia does).</p>

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<p>You might check to see if this is a taxable benefit and how it will affect financial aid.</p>

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<p>In regards to financial aid, it is usually treated as a "scholarship" and would reduce yoru overall cost of attendance. Depending on the cost, it can mean reduced eligibility for aid....which isn't necessarily a make or break issue as most, if not all of your tuition is paid for. </p>

<p>In regards to the taxability of the benefit, it depends on how the school labels it....it if is a scholarship, then it isn't taxable.</p>

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<p>I haven't looked into the tax ramifications, if any. Fortunately, with this employee benefit we won't need financial aid/loans. Our daughter's NYU scholarship (albeit modest--NYU doesn't give out much $) and our savings will cover the rest.</p>

<p>I was surprised that the benefit kicked in immediately. At NYU, for example, an employee has to wait 3 years for a tuition benefit--and it only applies if your child attends NYU.</p>

<p>But at Columbia, if you are hired before September, the benefit starts fall semester. Hired after Sept. 1, and you get the benefit beginning spring semester.</p>

<p>I'm aiming to be hired at Columbia sometime before September, fingers crossed! The full tuition paid for ... simply too wonderful to fathom, really. </p>

<p>I will look at that book mentioned by worried_mom. (By the way, your name worries me! I hope all is well with you and that your name doesn't reflect how you truly feel. I have found this whole experience of sending our daughter to college to be absolutely terrific. The ups and downs have made it all the more interesting!)</p>

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<p>Thanks for the well wishes, too. Appreciate the information about Columbia, sybbie719. My husband has only been working there a couple of months but already loves it.</p>

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<p>this info is awesome. my mom was actually willing to apply for a job at nyu medical center...but she'll need to wait three years for me to receive the benefit?? i'll graduate by then. i guess i should tell her about columbia...though it will probably take her over an hour to get to ;&lt;/p>

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<p>My D had a friend whose dad is a prof at UChicago- UChicago paid for him to go to Reed- which I thought was unusual- don't know if there is an informal grouping of colleges that do that-or if dependent tuition was just something in dads contract</p>

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<p>i just looked into it, and apparently there is a waiting period of 3 months before a tuition benefit can be received. im not sure where you've heard it being 3 years.</p>

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<p>Most places of higher ed feel it's their obligation to pay at least part of college tuition. A lot of professors' kids find their place at Chicago and I can't imagine that these families could have afforded the school without the employing university pitching in at least somewhat.</p>

<p>Interesting that a prof kid at UChicago would choose Reed.</p>

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<p>
[quote]
i just looked into it, and apparently there is a waiting period of 3 months before a tuition benefit can be received.

[/quote]
</p>

<p>From NYU Site:</p>

<p>
[quote]

You, your spouse or your registered domestic partner, and your dependent children are eligible to receive tuition benefits at NYU.</p>

<p>You are eligible to participate in the Tuition Remission Plan after you have completed three months of employment at NYU and successfully completed your probationary period.</p>

<p>Your spouse or registered domestic partner is eligible for undergraduate tuition remission after you have completed three months of employment and successfully completed your probationary period.</p>

<p>Your dependent children are eligible for undergraduate tuition remission after you have completed three years of employment at NYU. </p>

<p>Tuition remission benefits are not available for any programs at the following NYU schools:
° NYU School of Law
° NYU School of Medicine
° NYU College of Dentistry
° Stern School of Business’ Executive MBA program (tuition remission benefits are available for the regular Stern MBA program)
° Any courses at SCPS that are not approved for tuition remission.</p>

<p>

[/quote]
</p>

<p><a href="http://www.nyu.edu/hr/pdf/forms/bbaag106.pdf#page=14%5B/url%5D"&gt;http://www.nyu.edu/hr/pdf/forms/bbaag106.pdf#page=14&lt;/a&gt;&lt;/p>

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<p>NYU does have a portable tuition benefit plan for Faculty, Administrative & Professional staff and Research Staff working out of washington square.</p>

<p>more than 3 years of service and less than 10 years- $1500 year
more than 10 years service -$2000/ year</p>

<p><a href="http://www.nyu.edu/hr/policies/porttr.html%5B/url%5D"&gt;http://www.nyu.edu/hr/policies/porttr.html&lt;/a&gt;&lt;/p>

<p>If you are faculty /research staff or Administrative/ Professional you can get an alternate tuition benefit for your child after 3 months. However, all tuition benefits are considered taxable income.</p>

<p><a href="http://www.nyu.edu/hr/policies/fac07000.html%5B/url%5D"&gt;http://www.nyu.edu/hr/policies/fac07000.html&lt;/a&gt;&lt;/p>

<p><a href="http://www.nyu.edu/hr/policies/anp16000.html%5B/url%5D"&gt;http://www.nyu.edu/hr/policies/anp16000.html&lt;/a&gt;&lt;/p>

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<p>Update: I got a job at Columbia and start in a few days--just in time, because we received our NYU tuition bill yesterday! The benefit begins on the first date you work. Now, our daughter's entire NYU tuition will be covered by Columbia. Unbelievable. I suppose they figure that if you weren't working at a university, you might be out in the corporate world making twice as much money. Plus, there is the notion that education serves a useful purpose in life.</p>

<p>Also, someone had asked about whether it was taxable--it is not. It is called, officially, a "scholarship."</p>

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<p>rcdmom,</p>

<p>Congratulations and all the best in your new job. </p>

<p>I am quite sure the tution benefit of ~40k in after tax dollars that will be applied to your D's NYU bill is well worth it!</p>

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<p>Congrats rcdmom!</p>

<p>Would this possibly apply to state schools as well? My father teaches at the University of Maryland, so how likely is it that they would finance a portion of my college education at another institution?</p>

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<p>They don't pay full tuition K-12, and in fact, Columbia pays nothing for 9-12. They have a tiered system of payments K-8 based on your income, unless your child attends The Columbia School or one of the three private K-8s in close proximity to The Columbia School (Bank Street, St. Hilda's, The Cathedral School).</p>

<p>You are on your own for the massive private high school tuitions.</p>

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<p>Tuition benefits at Columbia no longer extend to graduate or professional schools for those hired after a certain date (it stopped at least ten years ago), unless you negotiate it when you are hired.</p>

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<p>Congrats for discovering a wonderful benefit of working in higher education.</p>

<p>My younger son will have his tuition covered through Tuition Exchange (<a href="http://www.tuitionexchange.org/%5B/url%5D"&gt;http://www.tuitionexchange.org/&lt;/a&gt;) this fall. TE institutions numbering close to 600 offer this to family members of faculty and staff. It's by no means guaranteed though. Each college takes in a certain number and sends out a certain number. The host institution sets the requirements, which might mean in some cases a waiting period before the student is eligible. Also, I believe, if the tuition is over $25,000 at the school the student is considering, the TE aid might not cover the entire amount. In most cases, the TE is not taxable. It must be renewed each year and grades can't slip below a certain point.</p>

<p>There are other programs similar to TE including FACHEX for students who have a family member employed with a Jesuit institution. My older son took advantage of this when his dad worked for a Jesuit university. There is another group of Catholic colleges and perhaps there are other associations that I'm overlooking.</p>

<p>Maybe parents of high schoolers should consider trying for a job in higher education. You can find out more information on college human resources Web pages. And while the organizations I mentioned deal mostly with privates, check into benefits with state schools. My law school tuition at the University of Alabama was covered when hubby worked at the school.</p>