Bank of America Tuition Reimbursement & Requirements 2025

Tuition reimbursement (or tuition assistance) is a benefit employers offer to help employees cover the cost of their college degree, certification, or continuing education credits. Companies that offer tuition reimbursement through their employee benefits assist workers' professional development as they aim to become stronger performers in the workplace.

Tuition assistance programs typically allow a maximum amount for reimbursement. Programs also have employee eligibility restrictions based on the timeframe they've been employed, whether they work full-time or part-time, which courses they take, and the type of institution they attend.

Bank of America (or BofA Securities) is one of many companies offering its employees a tuition reimbursement program. Below, we'll review the specifics of this employee assistance program, including its reimbursement limit, eligibility requirements, partnerships, and application process.

Does Bank of America Offer Tuition Reimbursement?

Yes, Bank of America Corporation offers tuition reimbursement benefits to eligible employees taking job-related courses. Workers could also have tuition costs reimbursed for college degree programs and professional certification exams relevant to Bank of America employees' current positions.

This financial assistance program is a part of The Academy, an onboarding, education, and professional development organization from Bank of America. The Academy offers structured education programs to ensure its workers are job-ready and have the skills to perform effectively. The organization also provides the Career Path tool to help employees explore roles and career paths across Bank of America.

Bank of America works with schools like the California Institute of Applied Technology (CIAT) to help employees get an education at a reduced price. For example, CIAT has offered a tuition discount to Bank of America employees to make course costs more affordable. Employees who benefited from this discount could add their employer benefits to reduce their out-of-pocket costs, so they paid little or nothing for school expenses.

Understanding Bank of America's Tuition Reimbursement Program

Bank of America employees can have their career development covered through tuition reimbursement that pays for eligible courses. Here's a look at some specifics of this financial aid program.

Tuition Assistance

The Tuition Assistance Program & Academic Support Program from Bank of America helps workers further their education and strengthen their skills in the workplace. Supporting its employees' growth and development creates stronger talent that helps enhance the company's performance.

Reimbursement Limit

Bank of America's tuition reimbursement program offers up to $7,500 to cover eligible expenses. This amount equals up to $5,250 tax-free.

Are Costs Associated With Books and Supplies Covered?

The tuition reimbursement program covers tuition costs for degrees and some academic and professional certification courses. While the program doesn't explicitly state that the reimbursement covers books and supplies, The Academy offers access to books, articles, courses, videos, and self-paced learning through its Academy On-demand and Learning Hub platforms.

Eligibility

Qualifying for Bank of America's Tuition Assistance Program requires the following:

• six months of continuous service with Bank of America
• active employment and on the payroll when the course begins and the reimbursement request is submitted
• enrollment in a certificate or degree program that is related to the employee's current role or a future position within the company

Employment Status

Bank of America doesn't state whether it only helps full-time employees or includes part-time employees in its reimbursement program. The company only mentions active employment as an eligibility requirement for reimbursement.

What Educational Programs Does Bank of America Cover?

Bank of America covers the following educational programs:

• undergraduate programs
• graduate programs
• some academic and professional certification programs

The company also offers discounts at several universities and free unlimited individual academic consultation services.

Is There a Minimum Grade Requirement To Maintain Benefits?

Bank of America has not published a minimum grade point average (GPA) requirement for student employees looking to maintain their tuition reimbursement benefits.

Partnership With Bright Horizons EdAssist Solutions

Bank of America partners with Bright Horizons EdAssist Solutions, a business helping companies establish employer tuition assistance programs. Bright Horizons assists employers with helping workers develop the necessary skills to fill employment gaps. This way, companies don't have to focus solely on searching for talent outside the company. Programs like tuition reimbursement are cost-effective and help create a more engaged workforce while supporting employees' financial wellness.

Application Process

If you're an eligible employee of Bank of America interested in tuition reimbursement for the current academic year, you must submit a reimbursement request. This is accomplished through Bright Horizons EdAssist Solutions.

Apply Through the EdAssist Internal Employee Portal

Companies working with Bright Horizons EdAssist Solutions use the business's portal to accept tuition reimbursement applications. Bank of America has a unique login page via EdAssist Solutions for workers to submit requests. The login page requires BofA employers to sign in using their username and password. Workers who don't have login credentials or can no longer access the Bank of America system are encouraged to click ''Start Here'' to set up an account.

For the CIAT program, you'll need confirmation from your direct manager that the degree or certificate program you want to pursue is job-related. After you've finished your course, your steps will include submitting your form, official grades, and receipts for tuition and related expenses within 90 days.

Keep Track of Application Status

Contacting a Bank of America representative is the best way to learn how to keep track of your application for tuition reimbursement.

Academic Support

Students pursuing a degree from CIAT and other partnering schools can receive personalized guidance from academic coaches and access to career development resources.

Free Unlimited Individual Academic Advisory Services

Bright Horizons EdAssist Solutions provides tuition reimbursement recipients with individualized plans that help them reduce the time and expense required to develop their skills and advance their education. Expert coaches provide one-on-one academic advisory services to help students navigate their educational options.

Access Employee Resources From Home

According to the World Health Organization (WHO), 12 billion working days are lost annually to depression and anxiety. To help workers manage their physical, mental, and emotional challenges, Bank of America offers several resources employees can access from home. Some include:

• Teladoc virtual medical consults - virtual healthcare via 24/7 access to board-certified doctors by phone or online video
• emotional wellness and resiliency training - virtual self-paced courses to help employees better manage stress and avoid burnout in the workplace
• mindfulness app - free app providing workers with personalized activities to boost their moods and offer mental health support during challenging times

Does Bank of America Pay For Your MBA?

Bank of America does not state specifically that it will cover a Master of Business Administration (MBA) degree program. However, the company's tuition reimbursement program does cover graduate courses. If you're interested in being reimbursed for an MBA program, contact BofA for more information.