What are Education Benefits?
Education Benefits help users secure and pay for education and training that will build their skills and prepare them for advancement in their careers. With Academies and Content Marketplace, employers can provide education benefits ranging from prepaid Learning Stipends to traditional tuition reimbursement.
What are Learning Stipends?
Learning stipends remove the barrier of reimbursement by issuing users their own Learning Budget which they can use to fund programs and resources. With their Learning Budget, users can explore the Marketplace and enroll in programs that will advance their careers.
What is a Learning Budget?
A Learning Budget is a user's available funds. Learning Budgets can be used to purchase resources and Marketplace programs and are loaded onto a prepaid digital card to make transactions easy. Only requested funds will be accessible on your digital card, so the funds loaded on your card will not always reflect the entirety of your Learning Stipend.
If your Learning Stipend is $3000, for example, but you request permission for a program that costs $500. Upon approval, $500 only will be loaded onto your card. You can access your remaining $2500 by making new requests.
Select Your Plan from the left navigation menu to see your stipend total including how much you’ve spent and how much remains.
What are Reimbursements?
Reimbursement increases access to learning by offering users help with their tuition expenses. Reimbursement makes paying for learning easy through pre-approvals for out-of-pocket payments and tuition assistance. Reimbursements may also be combined with other financial incentives like scholarships.
What are Requests?
Requests are how users get access to funds. With Learning Stipends, users request that funds are released from their Learning Budget on to a virtual card. With Reimbursements, users request pre-approval to make purchases. They also make requests for reimbursement by their company.
In order to enroll users in Marketplace Programs that best suit their interests and career trajectories, many employers will require that program enrollment be subject to approval by a Manager, an Admin, or both. When an employee finds a Marketplace Program or a resource that they’d like to purchase, they’ll request the funds necessary to enroll. If both Manager approval and Admin approval are turned on, requests will first require Manager approval.
Upon Manager approval, the request will then advance to the Admin approval stage where it will be either rejected or approved by an Admin. Upon this final administrative approval, funds will be released to the employee. Admins also have the ability to override requests that are pending Manager approval in order to manually advance them to the Admin approval stage.