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



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A hiring sign is displayed outside a Target store on February 5, 2021 in San Rafael, California.

Justin Sullivan | Getty Images

Target said on Wednesday it would offer new benefits to appeal to workers: a debt-free way to get a college degree and payments for graduate programs.

Starting this fall, the big box retailer said it will cover tuition, fees and books for part-time and full-time workers pursuing undergraduate studies at more than 40 institutions. It will also fund graduate degrees, paying up to $ 10,000 each year for master’s programs at these schools.

The national retailer is the latest company to offer benefits to attract candidates in a competitive job market. With the move, Target joins other retailers and restaurant chains, including Chipotle and Starbucks, which offer programs to help employees pay for their education. Walmart recently announced that it would cover all of its employees’ tuition and books, after previously asking them to pay $ 1 per day.

At Target, employees of stores, distribution centers and head offices in the United States will be eligible from day one. Target will cover the total cost of 250 programs aligned with its business, such as IT, information technology and business management. If an employee chooses a different specialty or seeks a graduate degree, Target will pay up to $ 5,250 each year for non-master’s degrees and up to $ 10,000 for master’s degrees in direct payments to the institution. university.

Target said it plans to invest $ 200 million in the education program over the next four years. She developed the program with Guild Education, a company that manages corporate education assistance programs. Participating schools include the University of Arizona, Oregon State University, University of Denver, Morehouse College, and Cornell University.

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