Maximizing Your Education: The Logic Behind the Working Student

Ah, recession. We make so many sacrifices for you. And now we are forced to consider yet another sacrifice - asking our students to work their way through school.

But is it really such a sacrifice?

Actually, students have always worked their way through school. It helps keep them out of trouble, but more importantly, it gives students a ready-made source of contacts to help them find work once they have finished their educations.

There are two basic ways to combine school and work: the school-centric method, and the work- centric method.

1. Full-time students tend to prefer the school-centric method. They enroll in college and immediately start looking for a part-time job or work-study assignment to help defray the cost of a college education - or, these days, to at least defray the cost of books and a laptop. The advantage of this approach is that the student does receive an education in four years (or less, at a community college). The disadvantage is that the part-time and work-study jobs that helped pay for books aren't likely to give your student a network of good contacts for finding work after graduation - unless he or she wants to keep washing dishes or waiting on tables. Students who choose this route may find that they need to seek out volunteer work or internships to give them the career experience that they need. However, if this is your student's chosen route, it should not be difficult to find a good internship that could open doors to a rewarding career in his or her chosen field. You can often find information about such internships at the "careers" section of company websites.

2. The other way to combine school and work has traditionally been favored by the older student who is returning to school. It's the "Get a job first and then go to school part-time" approach. Parents tend to look with horror at students who propose this method, but it has its advantages. First, a student who can get a decent job in a company that offers room for advancement, in this economy, should probably take it. That job will do a lot more to pay for college, and to promote a sense of fiscal responsibility in your young adult, than almost any other option. In addition, some companies offer tuition reimbursement to employees who go back to school, as long as classes do not interfere with work. Students who complete their education via this route do take longer, and they miss out on the classic college experience. But when the classic college experience leaves most students jobless and with a mountain of debt to pay off, maybe it's worth missing.

Are there really many employers out there who are offering tuition reimbursement? You have only to look in the right place. Some companies, such as Circuit City, don't offer much reimbursement (Circuit City offers no more than $1000 per semester). Best Buy maxes out at $3500 per year. Below is a short list of a few companies that still offer 100 percent tuition reimbursement (if you hunt around, you'll find more):

• Boeing has recently cut some of its tuition reimbursement benefits, unfortunately, but still offers reimbursement to unionized employees. Previously the benefit was almost unlimited and did not have to cover only courses that furthered an employee's job at the company.

• ExxonMobil offers full assistance for courses that help an employee in his or her job or to "increase competencies and capabilities." It's not an open checkbook, but it's better than a poke in the eye!

• Johnson & Johnson not only provides tuition reimbursement, but also maintains a website of resources for future nurses who are seeking to advance their education.

• Pfizer offers reimbursement at 100 percent for certain degrees that have the potential to help an employee advance within the company.

• United Technologies offers one of the best tuition reimbursement plans still out there, with coverage for graduate school as well as undergraduate degrees.

• Many media companies, such as the Chicago Tribune companies, for example, offer tuition reimbursement to employees.

Many of these companies, not surprisingly, require the classes that are taken to be job-related, and I can hardly blame them! A few simply require that the degree be related to business, science, or technology (depending on the company).

Another option is for your student not to work through school, but to find a job after graduation that offers loan forgiveness. One option is to become a teacher, which can get you up to $17,500 in loan forgiveness of Stafford loans, and 100 percent forgiveness of Perkins, after you've taught in high need schools for five years. In fact, teaching is not the only public service job that can get your student loans forgiven - to find out more about the Public Service Loan Forgiveness program, visit its website.

Another good option is nursing - quite a few health care companies offer tuition reimbursement for nursing students. Sometimes volunteers can get a similar deal. AmeriCorps offers grants to volunteers, helping to repay their tuition or pay for future tuition, as well as the Peace Corps.

If your student faces the prospect of working his or her way through school, don't dismiss the idea. As most of us eventually learn, work can be an education in and of itself! Going straight to work from high school may delay that college diploma, but there is no reason why your student should have to delay higher education forever. It's simply a matter of being patient - and the reward for patience is having less debt later in life. Surely that's a trade-off that is worth it.

During the 8 years that Brendan has worked in the job search and recruiting industry, he has held senior client services roles with major sites like Juju.com and JobsInTheMoney.com. He has been quoted on topics such as employment as well as jobs. His opinions have appeared in the Wall Street Journal and US News & World Report as well as other major publications.