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Tuesday, April 19, 2016

Supporting Corporate College Funding

College is expensive and even though technology holds many promises it hasn't slowed the tide of tuition increases. Most students rely on grants, loans, or scholarships to attend college as hard cash seems something difficult to muster. To thwart this heavy student loan burden it is beneficial to consider the merits of corporate funding.

The trend toward corporate sponsorship of education is growing and is becoming an attractive way of recruiting employees. Today's generation will have difficulty paying their student loans without the help of the companies that employ them. Providing tuition reimbursement and direct scholarship helps to achieve a higher skilled employee.

Companies pay for training and find the rewards when motivated employees capitalize on that training to take on greater levels of responsibility. Funding higher education works in the same way except the return on the tail is longer. Some ideas learned in college can be applied right away while others might take some more time to be practical.

Universities can also do a better job of catering their curriculum to these corporate clients. For example, a company like Einstein Bagel's might want a little more information on customer service management while Bell Tire might opt for additional electives in STEM.

Most of this education can be frequented at the community college level or at online universities that offer greater flexibility in scheduling. Beyond the positive public image and recruitment/retention advantage there is greater corporate give back that helps to lessen gaps between rich and poor. It is likely that corporate funding for higher education will continue to grow as a necessary outcome of rising costs.

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