University updates benefits to include trade school tuition assistance for employees' children
Colgate cited the nationwide need for trade workers in announcing the new policy.
The university will now financially support eligible employees’ children who pursue a trade in addition to children pursuing an undergraduate degree.
Colgate University will now financially support employees’ children attending trade school as part of its employee benefits package.
Prior to this, the school only provided assistance for children of employees pursuing an undergraduate degree through the Higher Education Grant Program.
Under this plan, the school will cover up to $33,311 in tuition annually for up to eight semesters, with recipients being required to be enrolled at least half-time in an accredited institution.
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In order to receive the grant, an employee must have worked at Colgate full-time for seven years and their child must be 25 or younger. Dependent stepchildren and adopted children are also eligible, and exceptions to some of the requirements will be made for children with disabilities.
The school says that it has awarded grants to roughly 100 students per year under the current program since its inception in 1991.
In a July 25 statement posted on the school’s website, President Brian W. Casey explained the rationale for the move, saying, “Our nation and this University itself are in need of skilled tradespeople as well as scholars. I am proud of this University for supporting multiple career pathways of the members of our employee families.”
[RELATED: ANALYSIS: ‘Massive shortage’ in trade professionals was inevitable]
Data seems to support this assertion.
According to Trades Nation, the trade industry is expected to grow ten percent in the next five years, with approximately 3 million jobs available in that timeframe.
Demand for trade workers is currently outpacing supply. The construction industry alone has a shortage of about 500,000 workers, according to Construction Dive.
“The Colgate Higher Education Grant has been an excellent benefit to help retain long-time employees with tremendous institutional knowledge,” Joseph Hope, Colgate’s senior vice president for finance and administration, said in the university announcement. “This signature benefit has helped educate hundreds of students, and it’s something that our University community is proud to support.”
Colgate University has been contacted for comment. This article will be updated accordingly.
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