Your Child’s College Tuition is Free!
You’ve heard of Sam’s Club and Costco, but there is a new wholesale company on the rise. Boxed is a wholesale company that focuses on the same type of products, yet does not invest in large brick and mortar stores. Instead, the products are shipped to you. The CEO, Chieh Huang, announced he will set aside personal funds to pay for his employees’ children to attend college. He’s not going to limit the amount of money, but it can only be towards tuition. It cannot be for housing, books, etc.
Companies offer tuition reimbursement says Zeca Oliveira. Colleges even offer free tuition to employees, spouses and children. However, the tuition reimbursement is typically a percentage or amount of money that you have to apply and qualify for. Working for a college means you have to send the spouse or child to that particular college to get the benefit. Offering employees the opportunity to send their child to any college and get the tuition paid for is in a completely different category. He doesn’t call it a, “company perk”. It is his own money and he wants to invest in those who invest in his company.
So, what about the employees without children? After all, he says there are currently only 12 children amongst the 100 employees. Is this why it isn’t a perk? I guess we will see in a few years.