Best Companies for Tuition Reimbursement

Picard · Aug 3, 2010

Hello,
I was surfing the other day when I stumbled upon the websites for Executive MBA programs from some of the top schools in the nation; names like Wharton, Yale, Kellogg, etc. I thought to myself how awesome it would be to have a MBA in Health Management form Yale! Think how impressed my parents would be! My wife! My mistress!
Then I saw the $140,000 price tag....
A lot of companies say they will reimburse up to $5000/yr or so; this falls somewhat short.
Anyone know of any pharmacy/hospital/drug companies offering better?

Thanks!

Farmtastic · Aug 3, 2010

5k/yr seems decent in this economy. I work at a health system where I believe they offer ~ 3k/yr to pharmacists.

aboveliquidice · Aug 3, 2010

Picard said:
Hello,
I was surfing the other day when I stumbled upon the websites for Executive MBA programs from some of the top schools in the nation; names like Wharton, Yale, Kellogg, etc. I thought to myself how awesome it would be to have a MBA in Health Management form Yale! Think how impressed my parents would be! My wife! My mistress!
Then I saw the $140,000 price tag....
A lot of companies say they will reimburse up to $5000/yr or so; this falls somewhat short.
Anyone know of any pharmacy/hospital/drug companies offering better?

Thanks!

120k for 3 years with most military branches... Best I've seen

Caverject · Aug 3, 2010

Picard said:
Hello,
I was surfing the other day when I stumbled upon the websites for Executive MBA programs from some of the top schools in the nation; names like Wharton, Yale, Kellogg, etc. I thought to myself how awesome it would be to have a MBA in Health Management form Yale! Think how impressed my parents would be! My wife! My mistress!
Then I saw the $140,000 price tag....
A lot of companies say they will reimburse up to $5000/yr or so; this falls somewhat short.
Anyone know of any pharmacy/hospital/drug companies offering better?

Thanks!

yeah, I can tell you what companies do that. If you get in, they will pay for it all and you earn your salary for going to school

1) US Army
2) US Navy
3) US Air Force

Picard · Aug 3, 2010

I've thought about the military, but I am 44 years old which I think is too old to apply. True?
Also, I don't think my family would approve of me being sent to Afghanistan...

Its Z · Aug 3, 2010

^
^
^

Dude is older than I.

Caverject · Aug 4, 2010

Picard said:
I've thought about the military, but I am 44 years old which I think is too old to apply. True?
Also, I don't think my family would approve of me being sent to Afghanistan...

nope...there are waivers available for pharmacists to join late in the game. You get constructive credit and depending how long you've had your pharmacy degree, you can enter in as a Major or Lieutenent Colonel.

Just beacuse you join the military doesn't automatically mean you are going to Afghanistan. But there is always that possibility of deployment and it may not be Afghanistan We still have deployments in Iraq and Kosovo. We also have some missions to Haiti as well. It all depends. Being deployed has been one of the most rewarding experiences in all of my life.

FruitFly · Aug 4, 2010

Picard said:
I thought to myself how awesome it would be to have a MBA in Health Management form Yale!

Thanks!

As an Ivy Leaguer I would whole-heartedly oppose your application just on the basis of spelling. :laugh:

Well actually there's a few Yalies I have known who couldn't install a new lightbulb even if their gpas depended on it.

mickfan13 · Aug 4, 2010

FruitFly said:
As an Ivy Leaguer I would whole-heartedly oppose your application just on the basis of spelling.

Well actually there's a few Yalies I have known who couldn't install a new lightbulb even if their gpas depended on it.

Hey, they're still good people. I am not manually inclined either. It's okay! 😳

dtran01 · Aug 5, 2010

As much as I want to keep this to myself, I guess I'll let the cat out of the bag -- Target Pharmacy has absolutely the best tuition reimbursement benefits in retail.

Yes, it is a measly 3K per year if you gloss it over. But hey it's 3,000 free money with no contractual agreements. That makes it great but here's what makes it AWESOME -- tuition totals are ACCRUED and paid yearly from the balance. If you let that sink in, that means that while it may take 40 years to get all of your money back in 3K yearly installments, you will surely get ALL of your tuition back as long as the coursework is pre-approved. It's hard to actually get fired from a job in retail (unless you do something superbly stupid) so most of the time even if you dont want to stay at the same company for 30 years you can work per diem once or twice a month and every year you essentially get a 3K bonus. For MBA, they pay 5K/year.

Pharmacy Kid · Aug 5, 2010

Military seems to be the best followed by PHS (specifically IHS). IHS offers up to $20,000 a year.

Farmtastic · Aug 6, 2010

dtran01 said:
As much as I want to keep this to myself, I guess I'll let the cat out of the bag -- Target Pharmacy has absolutely the best tuition reimbursement benefits in retail.

Yes, it is a measly 3K per year if you gloss it over. But hey it's 3,000 free money with no contractual agreements. That makes it great but here's what makes it AWESOME -- tuition totals are ACCRUED and paid yearly from the balance. If you let that sink in, that means that while it may take 40 years to get all of your money back in 3K yearly installments, you will surely get ALL of your tuition back as long as the coursework is pre-approved. It's hard to actually get fired from a job in retail (unless you do something superbly stupid) so most of the time even if you dont want to stay at the same company for 30 years you can work per diem once or twice a month and every year you essentially get a 3K bonus. For MBA, they pay 5K/year.

Seems standard, except for the fact that they will pay for it even after you've enrolled. Interest will be collecting on your tuition bill while you let them pay it back. That's a long time to be stuck somewhere just for the tuition reimbursement.

Usually the way it works is that you will get 3k in the calendar year for any tuition expenses for *that year*, meaning if you take a courses this year 15k, you will get 3k for it...they won't give you 3k then pay 3k*4=12k for the next 4 yrs to cover the remainder

dtran01 · Aug 6, 2010

Let me clarify that I do work for Target, and yes, they do continue paying you 3K every single year until it's all gone. I had to ask twice from different HR reps because I couldn't believe what I was hearing. Following your example, they will pay 3K*4=12K for the next 4 years. But in actuality, it's more like 3K *40 = 120K for the next 40 years.

I can't believe that you're pointing out that there's interest that will accrue on the tuition. Look, captain obvious, I'm taking out a loan so yes I will have interest on it.

You are ignoring that Target is the only retail company that will pay off your entire Pharmacy school tuition (yes, in 3K yearly installments) with ZERO CONTRACTUAL OBLIGATIONS.

let's say I agree to pay off your entire $120K mortgage on your house in yearly installments of 3K and say that hey all you have to do is, you know, work for me once every month (for good pay). Are you really going to say THAT DEAL IS NORMAL; I don't want to bother with it since I have interest payments on it??

Style · Aug 6, 2010

For those branches of the Military, IHS, how many years of service do you have to give to them for tuition aid (general examples)? Also is the location flexible for those years of service or do you basically work wherever they need you?

What about active service vs. reserves?

Caverject · Aug 7, 2010

Style said:
For those branches of the Military, IHS, how many years of service do you have to give to them for tuition aid (general examples)? Also is the location flexible for those years of service or do you basically work wherever they need you?

What about active service vs. reserves?

typically 3 years is the required service time. Location is where they send you but try their best to send you where you want to go.

Reserves do not offer this type of deal.

peacewalker · Aug 7, 2010

dtran01 said:
Let me clarify that I do work for Target, and yes, they do continue paying you 3K every single year until it's all gone. I had to ask twice from different HR reps because I couldn't believe what I was hearing. Following your example, they will pay 3K*4=12K for the next 4 years. But in actuality, it's more like 3K *40 = 120K for the next 40 years.

I can't believe that you're pointing out that there's interest that will accrue on the tuition. Look, captain obvious, I'm taking out a loan so yes I will have interest on it.

You are ignoring that Target is the only retail company that will pay off your entire Pharmacy school tuition (yes, in 3K yearly installments) with ZERO CONTRACTUAL OBLIGATIONS.

let's say I agree to pay off your entire $120K mortgage on your house in yearly installments of 3K and say that hey all you have to do is, you know, work for me once every month (for good pay). Are you really going to say THAT DEAL IS NORMAL; I don't want to bother with it since I have interest payments on it??

+ 1.. i would be happy to pay that interest when someone is giving me a 3k bonus on top of my yearly salary for having a piece of paper with "Pharm.D" on it

Sent from my DROIDX using Tapatalk

Pharmacy Kid · Aug 7, 2010

Style said:
For those branches of the Military, IHS, how many years of service do you have to give to them for tuition aid (general examples)? Also is the location flexible for those years of service or do you basically work wherever they need you?

What about active service vs. reserves?

For IHS, there is no set # of years you have to serve. It's simply $xxxxx for one year. Not all sites offer loan repayment. The ones that have a higher need for pharmacists have a higher chance of getting funding for loan repayment.

aboveliquidice · Aug 10, 2010

Pharmacy Kid said:
For IHS, there is no set # of years you have to serve. It's simply $xxxxx for one year. Not all sites offer loan repayment. The ones that have a higher need for pharmacists have a higher chance of getting funding for loan repayment.

Nothing is free in this day and age... If they are paying you a great deal of money (in excess of others), it's for a reason.

I am very happy with the tuition package that was prepared for me - but they will definitely be getting their money's worth.

Style · Aug 11, 2010

aboveliquidice said:
Nothing is free in this day and age... If they are paying you a great deal of money (in excess of others), it's for a reason.

I am very happy with the tuition package that was prepared for me - but they will definitely be getting their money's worth.

Tuition assistance/loan repayment sounds good with any company/branch of military but I always just wondered what the trade off was...what it was that a person had to commit to.

If a person can handle retail pharmacy and think its at least ok for them, when would it still be better to go with a branch of military or IHS in order to pay off loans as quickly as possible?

CoolBuddy06 · Aug 21, 2010

Memorial Hermann in Houston, TX used to give up to 7,500 per semester, up to 22,500 per year (three semesters) for PGs until the economy hit them. The pain was that you have to work at least part time. But trust me, someone is up to it and they got their pharmacy school paid for. Only they made more B's than A's.

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