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 goodwill
- 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 .