There is no denying that college is expensive. It doesn’t matter whether you attempt to acquire a traditional degree or an online degree either; pursuing a higher education takes some serious cash. And while loans and scholarships is the route that many take to pay for school, these options may leave you in debt or only cover partial tuition costs, respectively.
However, if you are looking for a way to go to school completely free while being guaranteed a job directly after graduation, an alternative way is to find a “corporate sponsor” to foot the bill.
What is a Corporate Sponsorship and how does it Work?
Many are familiar with “tuition reimbursement” programs— an employer from a large company pays back the money (or partial money) that an employee spends on his or her education once they’ve graduated from college. Many school districts, hospitals and governmental agencies have tuition reimbursement programs. A corporate sponsorship program on the other hand pays a student’s tuition bill up front; in return, the student must contractually commit to work for his or her “investor” for an allotted amount of time, typically anywhere from 3 to 5 years after graduation. After the contract negotiations are met and the committed working time is completed, the former student is free to stay within the company (if a job offer is still given) or move somewhere else.
Why do Corporate Sponsors Exist?
In a nutshell, employers want to make sure that they hire the most qualified person for the job, and what better way to ensure that they’ve hired the best person imaginable than by monitoring a future-employee’s quality of education? According to experts, corporate sponsorship is gaining a lot of popularity within the healthcare industry, especially because the cost to pursue a degree in the medical field is increasing. More specifically, pharmaceutical companies are prone to participate in corporate sponsorship. But how do you try to get a company to sponsor you if this the route you want to take?
How to Find Corporate Sponsorship?
One of the easiest ways to go about this is to do a simple Google search. Most businesses will publicly announce that they do in fact provide corporate sponsorship on their websites and will provide information for those interested about how to apply.
If you do not come across an ideal corporate sponsorship program on the web, another alternative you have is to convince a company to actually start a program. A good way to go about this is to formulate a list of companies that you would like to work for—”like to work for” is a key component because you will be required to work for this company for “x” amount of years and there is nothing worse than working for someone/somewhere you despise. You also want to make sure that the companies on your list are large corporations and not a “mom and pop” business—you want to make sure that the employers can actually afford to send you to college.
Once the list is established, call each company individually and ask to contact the company’s Human Resources Department. First inquire if a corporate sponsorship already exists. If the answer is no, ask if the company would be interested in establishing one. Prepare a little speech about what corporate sponsorship is and how it could benefit the company. If the answer is yes they are interested, then be prepared to undergo an interviewing process. Here, you will need to use your best marketing skills to convince employers you could potentially be a viable asset to the company and to invest money on you.
This guest post was written by Donna Reish, a freelancer who blogs about best universities. She loves to write education, career, frugal living, finance, health, parenting relating articles. She can be reached via email at: firstname.lastname@example.org.
Photo Credit: rockinfree
Featured in the Carnival of Wealth #39 hosted by Personal Dividends.
FYI: I have nothing to do with corporate sponsorships and can’t help you look for one. This is just an informational post written by someone else to give you ideas. Please research it for yourself.