Employer-funded continuing education has rapidly become a major benefit for young people entering the workforce who want to gain the skills and training needed to advance their careers and build futures. While employers have no legal obligation to assist employees in this way, the law does provide tax benefits for employer investments on behalf of their employees.
It was estimated back in 2015 that U.S. employers were spending a collective $177 billion a year on formal education programs for their employees, largely through capped tuition reimbursement programs. But recently, a Harvard study found that such programs benefit primarily economically secure employees, those with sizable savings accounts.
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