Tuition Reimbursement payback question

[jason17]

What is the name of your state (only U.S. law)? Maryland

I have been participating in my company's tuition reimbursement plan and as a requirement I was to stay at the company for 4 years. I would have to pay back 75% after 1 year, 50% after 2 years, etc.

Unfortunately, the company has been doing very poorly of late and through resignations and layoffs, the staff size is about 1/2 of what is was a year ago. Needless to say, much has changed including my job description and room for growth (both for the worse). As a result, I am planning on leaving the company.

I signed the tuition agreement stating my agreement with the terms, but I wanted to see if there was any chance that all/part of the tuition would be forgiven because of circumstances. I don't know if this is something I would have to try to negotiate with them (which seems futile). I also don't want to burn any bridges....I just don't want to have to pay this money if I don't have to.
Also, they want me to sign a promissory note if I do leave, although this is not outlined in the tuition reimbursement plan, why is this?

Thanks!

 

[tranquility]

Also, they want me to sign a promissory note if I do leave, although this is not outlined in the tuition reimbursement plan, why is this?

Because it's easier to prove up later and because they can easily sell it to a collection agency. It protects their rights.

Nothing you've mentioned is relevant to your debt to the company. These things are upheld in almost every case I've seen. Follow your promise and you get the best deal in the world. Don't, and expect to pay for your education. There will not be an exception because, there will not be a forgiveness why. The contract you agreed to will be enforced and the employer always wins. It's not unfair and you will get no sympathy from any jury.

Work there as agreed or pay the man.

 

[las365]

The company upheld its part of the deal. Your tuition was paid, you got your education, and you have your job. You uphold your end. Stay, or pay.

 

[cbg]

Your employer paid for your education with the understanding that you would stay around long enough for them to benefit from it. When they are in a downswing you want to bail. Okay, fair enough, you're looking out for number 1. But you still have the education and will be able to use it where you go next. And you're suggesting that in addition to that, your employer, who will now receive NO benefit from what they paid for, should IN ADDITION excuse you from repaying them AS YOU HAD AGREED TO DO?

Boy, some people are really selfish jerks.

 

[ariastar]

No, it doesn't change. You agreed to pay back half if you stayed two years.

With the economy how it is right now, consider yourself luck you have a job. You're better off staying put for a while.

 

[charlesray]

Tuition Reimbursement

I have read many comments on several boards regarding paying back company tuition loans. The 1st recommendation is to run to a lawyer, don't walk. Don't agree to anything until you talk to a lawyer. Do you think the company you worked at uses lawyers? Don't pay attention to people who tell you to just pay up. It's called servitude or slavery. For example, If I ask you to be my slave for $500.00 but you have to sign a contract that states I am lending you the $500.00 to be my slave for two years is that a valid contract? Since the company gets to use part of your education that you earned should they have to discount some of that time? That's what I mean about going to a lawyer 1st. Don't pay a nickel until your lawyer tells you too. If you have a good lawyer you should have no problem working out a payment schedule if that's what your lawyer recommends. As far as paying the loan back over time? Who decides that, let me guess the company wants to decide? Good luck Mr. Employer, unless the contract states the payment schedule what's to stop me from paying $10.00 a year. In order for them to collect they would have to go to court 1st. Again, this is the best reason to go see a lawyer. Don't listen to the rest of the advice about paying them back without getting a lawyer. The funny thing is I don't see any strings of anyone who went to a lawyer 1st and then ended up having to pay?

 

[Antigone*]

I have read many comments on several boards regarding paying back company tuition loans. The 1st recommendation is to run to a lawyer, don't walk. Don't agree to anything until you talk to a lawyer. Do you think the company you worked at uses lawyers? Don't pay attention to people who tell you to just pay up. It's called servitude or slavery. For example, If I ask you to be my slave for $500.00 but you have to sign a contract that states I am lending you the $500.00 to be my slave for two years is that a valid contract? Since the company gets to use part of your education that you earned should they have to discount some of that time? That's what I mean about going to a lawyer 1st. Don't pay a nickel until your lawyer tells you too. If you have a good lawyer you should have no problem working out a payment schedule if that's what your lawyer recommends. As far as paying the loan back over time? Who decides that, let me guess the company wants to decide? Good luck Mr. Employer, unless the contract states the payment schedule what's to stop me from paying $10.00 a year. In order for them to collect they would have to go to court 1st. Again, this is the best reason to go see a lawyer. Don't listen to the rest of the advice about paying them back without getting a lawyer. The funny thing is I don't see any strings of anyone who went to a lawyer 1st and then ended up having to pay?

Dude Necroposting come one!!!