Tuition Reimbursement Policy Case Study
Tuition Reimbursement Policy
Matrix Drilling Products believes in offering some form of assistance to employees who strive in furthering their education. Our organization understands that each individual requires varies educational as well as institution needs. Therefore, Matrix Drilling products will consider and make a reasonable decision when providing tuition reimbursement to any qualified employee.
The Company will reduce the amount of grants, scholarships, and other financial aid or course discounts which are paid directly to the institution in which the student does not have to pay back. It is imperative to provide accurate information and avoid providing false information as this may result in the loss of eligibility for benefits and/or
disciplinary action in accordance with the Company’s Code of Conduct Policy.
Eligibility
• Be an active salaried or full-time hourly employee.
• Have completed one year of full-time service.
Qualifications for Receiving Educational Benefits
• The employee must earn a letter grade of “C” or better. If the course is on a “pass/fail” grading system, the employee must earn a “pass” grade.
• The appropriate and supporting documentation for reimbursement must be received by the Human Resource Department no later than 60 days after a course is completed.
Approved Courses
• Coursework may be completed through traditional classes or through non-traditional programs such as on-line or other distance-learning programs.
• Coursework must be related to the business of the Company. Academic disciplines generally regarded as related to Company business and considered eligible for reimbursement.
Reimbursement Limits
• 100% of the cost of tuition, books, and reasonable class registration fees for approved course(s).
• Dollar amounts differ depending on: salaried or full-time employee status, courses and institution.
Matrix Drilling Products believes in offering some form of assistance to employees who strive in furthering their education. Our organization understands that each individual requires varies educational as well as institution needs. Therefore, Matrix Drilling products will consider and make a reasonable decision when providing tuition reimbursement to any qualified employee.
The Company will reduce the amount of grants, scholarships, and other financial aid or course discounts which are paid directly to the institution in which the student does not have to pay back. It is imperative to provide accurate information and avoid providing false information as this may result in the loss of eligibility for benefits and/or
disciplinary action in accordance with the Company’s Code of Conduct Policy.
Eligibility
• Be an active salaried or full-time hourly employee.
• Have completed one year of full-time service.
Qualifications for Receiving Educational Benefits
• The employee must earn a letter grade of “C” or better. If the course is on a “pass/fail” grading system, the employee must earn a “pass” grade.
• The appropriate and supporting documentation for reimbursement must be received by the Human Resource Department no later than 60 days after a course is completed.
Approved Courses
• Coursework may be completed through traditional classes or through non-traditional programs such as on-line or other distance-learning programs.
• Coursework must be related to the business of the Company. Academic disciplines generally regarded as related to Company business and considered eligible for reimbursement.
Reimbursement Limits
• 100% of the cost of tuition, books, and reasonable class registration fees for approved course(s).
• Dollar amounts differ depending on: salaried or full-time employee status, courses and institution.