Overview

Capital City Bank supports and encourages you to develop a life-long habit of continuous learning that focuses on personal and professional development through higher education. To assist associates in this effort, the Bank has established an educational Tuition Assistance Plan (TAP) to help eligible associates continue or begin post-high school education, develop skills, increase knowledge and aid in career development.

Providing financial assistance to associates who take courses to improve their job skills or opportunities for promotion is a common way for companies to invest in their workforce. That investment is often returned through associates’ application of new knowledge and/or technical expertise on the job.

A well-planned and implemented TAP benefits both the Bank and the associate. Benefits to the Bank include:

• A more educated workforce.
• Building a pool of qualified, promotable associates.
• Building morale and loyalty to the Bank.
• Lowering turnover rates.
• Recruitment and retention tool.
• Supplementing Bank training programs.
• For tax purposes, education expenses are considered expense deductions.

Associates who achieve their goal of earning a degree, or completing a technical program, will be formally honored with a letter of congratulations from the chairman/CEO.

Who is eligible?

All associates are eligible to apply for TAP upon successful completion of their new hire period (90 days). This includes regular full-time, PT30 and PT20 associates. 

Associates on a Decision Memo are not eligible to apply for TAP until Memo is lifted. Falsification of information submitted will result in the immediate termination of current and future benefits.

How to Apply

All applicant must send the following to the TAP Administrator:

• TAP Application
• Copy of the tuition receipt
• Official transcripts at the end of the learning period or semester
• Payback Agreement & Promissory Note (sent separately after disbursement)

A deadline for applications is established 3 times per calendar year based on learning period or semester ending date. Only applications received prior to the deadline will be considered.

Approved Courses

Educational assistance is considered for the following:

• 2-Year Associate Degree
• 4-Year Undergraduate/Bachelor’s Degree
• Graduate Degree
• Masters in Law
• Vocation Courses
• Courses related to job

Undergraduate Degrees

Undergraduate courses approved for the program do not have to be directly related to one’s job, if degree seeking. Undergraduate, Associate and Vocation Programs specializing in medical or technical fields (for example: nursing, imaging, engineering and other profession-specific fields) will not qualify as reimbursable. This is not an all-inclusive list.

Graduate Degrees

Courses related to the pursuance of a Master’s Degree must be job specific. Classes approved must be necessary to complete a degree.

Tuition reimbursement will be paid for one (1) Associate’s Degree (AA), one (1) undergraduate (Bachelor’s) degree and one (1) graduate (Master’s) degree.

Associates wishing to take an individual undergraduate course(s) to enhance job performance and knowledge may also apply for tuition reimbursement.  The course(s) must be job specific.

All course work is to be completed on the associate’s own time. Class attendance and completion of study assignments must be accomplished outside the associate’s normal work hours.  

To maintain eligibility, associates must submit grades for courses already taken before set deadline and meet repayment obligations under the terms of the Plan, if applicable.

Reimbursement Requirements

Tuition reimbursement will be limited to six (6) hours per learning period and no more than 120 hours for an undergraduate degree. Payouts are based on TAP budget and may be scaled based on budget availability.

Tuition assistance will be suspended if the applicant has been issued a Decision Memo within the last 90-180 days at time of reimbursement. Also, the Bank will not reimburse tuition to an associate who is not employed at time of disbursement.

Under the TAP Program, eligible associates are not to exceed calendar year maximum of $5,250.00 (maximum amount IRS allows an individual to receive for educational assistance without claiming this benefit as taxable income.)

Undergraduate Reimbursement Scale:

• A=100%
• B=75% 
• C=50% 
• D/F (including Incomplete) = none    

Graduate Reimbursement Scale:

• A=100%
• B=50%
• C or less = None

Classes that are graded based on a pass/fail scale are not eligible for TAP.

Payback Agreement

Undergraduate and Associate's Degree

As a condition of tuition reimbursement for Undergraduate or Associate’s Degree studies, an associate must agree that if he/she voluntarily leaves the Bank, he/she will repay the amount received as follows:

• If associate terminates his/her employment on or before completing one (1) year of continuous service with the Bank, following the date on which associate received educational assistance from the Bank, associate will be responsible for repayment of the full amount that was reimbursed by the Bank for his/her educational expenses.

Graduate Degree

As a condition of tuition reimbursement for Graduate degree studies, an associate must agree that if he/she voluntarily leaves the Bank, he/she will repay the amount received as follows:

• If associate terminates his/her employment on or before completing two (2) years of continuous service with the Bank, following the date on which Associate received educational assistance from the Bank, associate will be responsible for repayment of the full amount that was reimbursed by the Bank for his/her educational expenses. 
• Associate will be required to repay 50% of the amount that has been paid by the Bank if associate voluntarily terminates employment more than one year but less than two years from the most recent date on which associate received tuition reimbursement from the Bank.

Administration

TAP is administered by Human Resources. Associates will be reimbursed directly through the payroll system. Before the reimbursement date, associates will be notified in writing of the approved reimbursement amount and the date of reimbursement.

Each semester a budgetary amount will be allocated for the upcoming learning period or semester. Associates will receive reimbursement for courses completed during the previous learning period or semester.

Associates, who achieve their goal of earning a degree, or completing a technical program, will be formally honored with a letter of congratulations from the Chairman/CEO.