Tuition Reimbursement

[kjes]

I have a question about Tuition Reimbursement -

Our company policy states that if I voluntarily leave my position 1 -2 years after I receive my degree - I must pay it back in full. I have been taxed on this money as they have made it look like this was a bonus or part of my pay. The actual document says the following:

"In the event I voluntarily terminate my employment with company, I authorize company to offset any outstanding repayments that apply to the above-mentioned policy against my compensation, commissions or other expense reimbursements that may be owed to me from company. The failure to repay the outstand balance within ten (10) calendar days of my termination shall constitute a default of this agreement. Upon such default, interest shall be charged on the unpaid principal until the full amount of principal has been paid or otherwise satisfied. The annual rate of interest to be charged shall be two percent above the prime rate."


I believe that my company gave me a bad review so as not to give me a raise for the last year because they know I have one more year left before I can leave the company without this penalty.

I guess my question is - I want to leave the company as soon as possible, is there any way to get out of this agreement?

 

[Patricia_Young]

Only a local attorney who has read the agreement in its entirety could tell you for sure, but based solely on what you have posted here, I wouldn't be optimistic.

Many companies aren't giving raises these days. You got a free education. You may be wise to suck it up and do the time.

 

[ncampbebg]

Me too

I guess I'm not the only one! My company won't give me a fair raise and I feel it is because they know I signed the contract saying I will work there for at least a year after graduation. My contract says that if my employment is terminated for any reason I have to pay back only what they have given me in the last year, not the entire amount. They have also added 3 times the job responsibilities that my position description states and will not negotiatle a higher salary. I haev no way to prove it except my supervisor as a witness...but my supervisor's boss told him "why pay him more money when he know's I'm just going to leave in a year anyways."

 

[Patricia_Young]

nacampbebg started his own thread.