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🌿 As part of our Simply the Best: People, Places, and Processes initiative, we are introducing a more streamlined process for tuition reimbursement.
🛑 First, please know the process still includes up-front payment from Laurel Ridge. We know how important it is for the college to provide payment in advance so that employees do not have to cover the cost of the tuition until the class is over. This ensures the benefit is practical and accessible to employees.
🟢 The process will have Laurel Ridge provide up-front payments to you through payroll.
Advantages of the streamlined process:
- No longer requires the third-party institution to complete a W-9 and be set up as a payee in the Cardinal system. No longer requires college staff to coordinate form completion and set up in the accounts payable system. Paying through payroll eliminates these requirements.
- No longer requires the creation of a letter to the institution affirming that Laurel Ridge will be paying the tuition. No longer requires college staff to create and send the letter to the appropriate office of your institution. Paying through payroll eliminates this requirement.
- Many institutions require payment through a credit card and charge fees, of which Laurel Ridge is not authorized to pay. No longer requires staff to reach out to employees to pay the credit card fees and ensure the proper accounting of these transactions. Paying through payroll eliminates these requirements.
- By processing through payroll, the tuition funds will be available in your direct deposit account. (Thus, you could pay your tuition via check, e-check, card, etc.- whichever is your preferred method of payment).
- Tuition reimbursement is a benefit that should be tracked through the payroll. This does NOT impact your taxes as the $3,700 maximum that Laurel Ridge reimburses each year is below the IRS threshold for a taxable benefit. However, it does ensure that if one day the college ever did increase the benefit amount in a way that affects taxes, the college would be compliant.
- Streamlines the internal process and represents parties more effectively as the registration and payment relationship is between the employee and the third-party institution. The benefit relationship is between you and Laurel Ridge HR/Payroll (per the promissory note).
How do you obtain up-front reimbursement for tuition?
- You would continue to submit a tuition reimbursement request in Vision EAS before the start of classes.
- Once approved by HR, the request would go to Matt or Courtney. Laurel Ridge would pay you the benefit amount via the next available pay date.
- You would be responsible for paying for the institution you are attending.
- You would be responsible for paying back Laurel Ridge if you do not complete the class successfully (per the promissory note).
Thank you to those who are currently receiving the tuition benefit and provided valuable feedback on this process change. The new process is available on the Laurel Ridge Website and is effective July 1, 2025. 🌿