Target Announces Debt-Free College Education for Employees
Target made big news on Wednesday when it announced on Facebook that it would offer options for its employees to obtain college degrees without going into debt.
Details of Target Program
The retail giant is proud to offer a free college education to over 340,000 full-time and part-time team members working at brick and mortar stores, distribution centers, and corporate headquarters. The debt-free programs are explained in full detail on the company’s website. In addition to having access to undergraduate and associate degrees, the participating students will also enjoy free textbooks, course fees, and more.
The company said that all costs are covered for these programs. Employees can begin taking advantage of this perk beginning this fall.
Partnership with Guild Education
Target is entering into a partnership with Guild Education, a private organization that provides upskilling and educational opportunities. Employees will be able to choose from over 250 business programs spread out over 40 different institutes of higher education. The University of Arizona and Morehouse College are just a handful of the schools participating in the program.
The Minneapolis-based corporation will also provide funding for advanced degrees. Employees looking to earn a master’s degree may qualify for up to $10,000 in financial assistance.
Target Forward Sustainability
In addition, Target detailed how it plans to earmark $200 million for the debt-free college program over the next four years. The investment is part of the umbrella Target Forward sustainability practices.
Target is not the only company offering this type of perk. Chiptole and Walmart have also recently announced programs designed to provide assistance for college tuition.