Employer-sponsored Scholarship Programs offer scholarship awards specifically to employees or dependents of eligible employees. Benefits of employer-sponsored programs include:
- indirect advancement of a trade or industry by targeting certain fields of study
- demonstration of a company's community spirit and good will
- professional scholarship program administered by OSAC
- IRS tax deductible contributions
Business sponsors say the intangible benefits of scholarship funding through OSAC are often the most rewarding:
An unexpected outcome is improved labor relations. Line staff and managers are equally represented in scholarship decision-making.
We consider the scholarship to be an investment in the families of our employees and it shows we support them.
These programs must adhere to IRS guidelines for employee related programs as outlined in the Employer-Sponsored Scholarship Program Fact Sheet
. To ensure adherence to IRS guidelines, employers are required to be certified by OSAC through the completion of an Annual Certification Request form .