Can the $5250 Reimbrusement of tuition be used to pay for employee's that have

Can a company use the $5250 reimbursement of tuition for employees that have already graduated? I can not find the 1996 legislation to see how the the $5250 reimbursement of tuition can be used? It seems with the average tuition debt about $26,000 last time I checked; that our graduates are the ones that could use the help. It seems that this would be a hand up not a hand out! All the crazy tax breaks that business are receiving.Why not let these company help pay down the tuition debt and help kick start the economy. It seems that this would be a True Stimulus Program! Actually helping our youth.Trillions of $$$$ when to banks that can't even account for it. Let's see; "The President and Congress Stimulus Program" give our $$$ to banks that caused the problems we are having housing ,jobs etc..... So they can hold on to the $$$ Then charge HIGH INTEREST RATES to the very people that need help??????