The College Bound Company focuses on three distinct areas of business using IRC Section 127.
We use code section 127 Qualified Educational Assistance Plans to help employers in the restaurant, hotel, grocery, retail, health care, long term care, entertainment and fast food restaurant industries to leverage the value of “Loyalty Economics” to dramatically improve their part-time, teenage and college age employee retention.
These employer groups fill 60% to 80% of their company positions with employees who are 16 to 24 years old and who give an average length of service anywhere from 8 to 16 months. In service oriented organizations like these, increased productivity and profits come from leveraging loyalty. You can’t leverage employee loyalty if your employees turn over every 8 to 16 months. We use the College Bound Program to increase that length of service average by 200% to 300%!
We also use code section 127 Qualified Educational Assistance Individual Plans to help small, family run businesses to finance the ever increasing costs of college through the family business. The self-employed small business owner has a unique opportunity to take advantage of this tax exempt benefit to pay for the college expenses of their adult children or grandchildren. This can provide a significant advantage for small employers when paying tuition bills.
Finally, we work with select financial advisors who have attained the Certified College Planning Specialist designation to promote the College Bound Program benefit in their markets, opening the door to additional opportunities for their business through partnering with the College Bound Company.
"No one has more to gain from a well educated work force than a business owner!"
Jim Northam, College Bound, Inc.