11 Employer Tuition Assistance Programs That Pay Toward Your Degree

11. Bank of America — Tuition Assistance & Scholarships

What it is: Bank of America provides tuition assistance and supports academic growth for employees with role-related undergraduate, graduate, or certificate programs. Research shows Bank of America’s tuition assistance and academic support programs can provide substantial annual support; some reporting indicates up to $7,500 annually for eligible employees through combined assistance offerings. How to apply: Start at the Bank of America benefits portal or contact HR to confirm eligibility, the list of approved institutions, and the application workflow. Confirm whether the support is offered as a scholarship, reimbursement, or direct payment to institutions. What to watch for: Distinguish scholarship-like awards from employer tuition assistance, because the tax treatment can differ. Also check whether Bank of America requires a service commitment after receiving funds or sets minimum grade thresholds. Quick tax note: Because Bank of America’s program can include scholarships and employer assistance, verify with HR and payroll how each payment is reported for tax purposes.