Attention: Application Submission Deadline / Voucher Expiration 

Applications for the Education Assistance Program must be submitted within the following timeframe:

• Earliest submission date: 60 days before the course start date.
• Latest submission date: 30 days after the course start date.

Please note that applications submitted more than 30 days after the course start date, as indicated on the online application, will not be eligible for reimbursement.

Students are responsible for completing all required actions agreed upon during the sign-up for the Education Assistance Program. As a student, it is your duty to ensure that everything is processed correctly and within the allowable timeframe set by NextEra and Edcor for reimbursement.  If these requirements are not followed, it will be the responsibility of the employee to pay their tuition.   If you have questions regarding the process and timing, please reach out to Edcor directly.

Within 90 days of course completion, program participants must submit their grade reports and payment information to Edcor

Please ensure that the school uses the vouchers for payment by the expiration date. It is the student’s responsibility that the school requests payments for tuition and fees within the allotted time on the voucher.  Requests for funds submitted after the expiration date will be denied, and you may be required to cover the tuition payment for that period. 

Taxation of Educational Assistance Benefits

Educational assistance provided by employers may be subject to taxation, depending on the prevailing tax laws at the time of tuition payment. Imputed income refers to tax and employee benefit scenarios where a person is regarded as having received income despite not receiving it in cash.

Currently, the IRS allows employers to offer up to $5,250 in educational assistance tax-free. Any assistance an employee receives that exceeds this limit, including combined education assistance and student loan repayment programs (SLRP), may be classified as taxable income.

Employers must report imputed income on employees' W-2 forms, which could require employees to pay taxes on these amounts. Understanding this concept is crucial, as it affects an individual's taxable income and overall tax liability. If applicable, taxes will be withheld directly from the employee's paycheck.