Business Case for Direct Bill
To drive inclusivity in organizational tuition programs and provide equitable opportunity for employees to leverage the program, organizations should establish a direct bill payment plan.
As a leader, you can help close the opportunity gap and create development opportunities for all levels of employees by modifying a game-changing component to your tuition program.
By partnering with DeVryWorks and offering the DeVry Completion Grant to your team members, you can help team members take advantage of your tuition benefits program by reducing or eliminating employees’ reliance on student loans.
The DeVry Completion Grant is designed to reduce tuition debt and help qualifying students pursue their educational aspirations more affordably.
How does the DeVry Completion Grant work?
The grant covers the cost of tuition and fees* remaining on a student’s account after other financial assistance such as tuition assistance, and grant aid, such as Pell grants and other federal and state-provided financial aid or scholarships have been applied.
Here’s an example:
By partnering with DeVryWorks, Microchip Technology team members can use their employer tuition benefits, offered by Microchip, and the DeVry Completion Grant makes up the difference.
These are just a few of the tools for success that are available to you, making higher education more accessible and financially attainable. Hear from Senior Vice President of Human Resources, Lauren Carr, on how this program has led to employee retention, organizational growth and more.
The DeVry Completion Grant covers most or all outstanding costs of program tuition and fees for the employee, after the employer’s regular tuition assistance contribution. Through DeVry’s Direct Bill Plan the employer or a third party is able to delay full payment of the eligible tuition and fees. See below for a list of benefits for the student and employer.
*Fees include course resource fee, learning management system (LMS) access fee, student services charge and eBooks. Please note the Completion Grant will not cover optional bookstore charges.
**Expected Family Contribution (EFC) serves as an index number that determines your eligibility for federal student financial aid. This number is derived from the information you provide in your Free Application for Federal Student Aid (FAFSA®) form.