What are the IRS criteria for an education assistance program (EAP)?

The following requirements apply for a qualified educational assistance plan: The employer must provide a written plan. The plan can't offer other benefits besides education. The employee can't receive more than $5,250 per year from all employers combined. The plan must not favor highly compensated employees (for 2025, that means those earning more than $160,000 in total compensation). You can find further details in the Educational Assistance and Allowances section of the IRS Publication of Fringe Benefits.

What are some other benefits of offering tuition reimbursement programs to employees?

Talent development: Build a more skilled workforce that fosters innovation and growth. Higher recruitment and retention: Spend less time, money and effort recruiting new workers when you keep long-term employees. Employee engagement: Keep employees interested through new challenges while allowing them to turn their passions into productivity at work. Competitive edge: Attract talent by offering a valuable incentive. Companies like Walmart, McDonald's, T-Mobile and Amazon help cover the cost of going back to school.

Is an EAP a good fit for my business?

The benefits of tuition reimbursement programs are evident. However, deciding on an EAP depends on your budget, goals and other factors. Consult with your financial advisor and human resources department to determine your tax impact and potential ROI.

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Projected Employment Growth in Related Occupations (2024–2034)

[1] Computer & Information Research Scientists - U.S. Bureau of Labor Statistics, Occupational Outlook Handbook

[2] Data Scientists - U.S. Bureau of Labor Statistics, Occupational Outlook Handbook

[3] Mathematicians & Statisticians - U.S. Bureau of Labor Statistics, Occupational Outlook Handbook

[4] Software Developers, QA Analysts & Testers - U.S. Bureau of Labor Statistics, Occupational Outlook Handbook

[5] Operations Research Analysts - U.S. Bureau of Labor Statistics, Occupational Outlook Handbook

Prepare for Careers Growing Faster Than Average

The fields shown are projected to grow significantly faster than the average occupation through 2034, according to the U.S. Bureau of Labor Statistics.

Stevens programs, delivered through our College of Professional Education, are designed to align with this industry demand, equipping your workforce with the technical depth and practical skills employers need to stay competitive in a rapidly evolving landscape.

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PSEG President and CEO Ralph A. LaRossa with Stevens President Nariman Farvardin

PSEG and Stevens: Partners in Progress

Foundation support and joint research expand work in areas such as flexible photoelectronics, sustainable fuels, and energy conversion and storage. Internships, cooperative education, and recruiting connect that work to hires. PSEG gains innovation access and a technical talent pipeline; hundreds of Stevens alumni work across the company today.

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PSEG’s partnership with Stevens Institute of Technology is unquestionably one of our company’s most prized relationships – and one that benefits both of our organizations tremendously.

Kim HanemannPresident and Chief Operating Officer, PSEG

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