Dr. David Ferreira, Provost of Charter Oak State College: Turning Employee Tuition Benefit On Its Head

Episode 72 November 29, 2023 00:32:39
Dr. David Ferreira, Provost of Charter Oak State College: Turning Employee Tuition Benefit On Its Head
WorkforceRx
Dr. David Ferreira, Provost of Charter Oak State College: Turning Employee Tuition Benefit On Its Head

Nov 29 2023 | 00:32:39

/

Show Notes

Although most US employers offer some form of tuition assistance, it’s estimated that less than 5% of employees use the benefit. There are several reasons for this, but according to Dr. David Ferreira, provost of Charter Oak State College, paying the upfront cost of tuition is high on the list. “Fifty-seven percent of Americans have less than $1,000 in their savings account. They cannot commit to an upfront tuition cost especially if they’re living paycheck to paycheck,” he tells Futuro Health CEO Van Ton-Quinlivan. Inspired by an idea outlined in Van’s book WorkforceRx: Agile and Inclusive Strategies for Employers, Educators and Workers in Unsettled Times, Ferreira and colleagues decided to turn the traditional tuition reimbursement model on its head and adopt a disbursement model instead in which employers pay the upfront cost and get reimbursed through a federal tax credit for employee tuition benefits. He calls it a ‘win-win-win’ approach. “There’s no money out of pocket for the employee, there’s no cost on the employer side because they'll be reimbursed, and Charter Oak is going to get more students.” In working to sign-up employers as the new Charter Invest program rolls out, Ferreira is also highlighting that it will help companies with the important goals of employee retention and diversifying their workforce. Get all the details, learn about the program’s ‘all you can eat’ design, and find out how employers are reacting to the idea in this eye-opening conversation.

Other Episodes

Episode 15

March 29, 2021 00:25:05
Episode Cover

Dr. Sunita Mutha, Director of Healthforce Center at UCSF: Bridging Cultural Gaps to Provide Better Care

Dr. Sunita Mutha thinks if health care providers consistently asked themselves one question, it would lead to reducing health disparities based on race, income...

Listen

Episode 98

January 15, 2025 00:15:04
Episode Cover

Anika Heavener, Vice President of Innovation and Investments at The SCAN Foundation: Ageism and the Aging Workforce

On this episode of WorkforceRx, we turn our attention to the challenges and opportunities of one of the fastest growing parts of the US...

Listen

Episode 45

August 30, 2022 00:26:51
Episode Cover

Dr. Nader Nadershahi, Chair of the American Dental Education Association: Benefits of Integrating Oral and Medical Care

There’s growing interest in the integration of oral healthcare with medical care, and there’s good reason: about 30 million Americans who visit their dentist...

Listen