Target rolls out debt-free college degrees to woo retail workers

Target mentioned Wednesday it’ll supply new perks to woo employees: a debt-free option to get a university diploma and funds towards graduate applications.

Beginning this fall, the big-box retailer mentioned it’ll cowl the price of tuition, charges and textbooks for part- and full-time employees who pursue a qualifying undergraduate diploma at greater than 40 establishments. It is going to additionally fund superior levels, paying as much as $10,000 annually for grasp’s applications at these colleges.

The nationwide retailer is the latest company to dangle perks to attract job candidates in a aggressive labor market. With the transfer, Goal joins different retailers and restaurant chains — together with Chipotle and Starbucks — which have applications that assist workers pay for faculty. Walmart lately introduced it will cover the full cost of college tuition and books for its workers, after beforehand requiring them to pay $1 a day.

At Goal, workers at shops, distribution facilities and headquarters places within the U.S. will qualify on their first day. Goal will cowl the total value for 250 applications aligned to its enterprise, resembling laptop science, data expertise and enterprise administration. If an worker chooses a distinct specialty or seeks a graduate diploma, Goal can pay as much as $5,250 for non-master’s levels and as much as $10,000 for grasp’s levels annually in direct funds to the educational establishment.

Goal mentioned it plans to speculate $200 million within the schooling program over the subsequent 4 years. It developed this system with Guild Training, an organization that manages company schooling help applications. Collaborating colleges embrace the College of Arizona, Oregon State College, College of Denver and Morehouse Faculty.

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