Target to pay 100% of college fees and textbooks in a bid to attract workers

Target-to-pay-100%-of-college-fees-and-textbooks-in-a -bid-to-attract-workers

August 6, 2021: -On Wednesday, Target said it would offer new perks to woo workers, a debt-free way to get a college degree, and payments to the graduate programs.

Beginning this fall, the big-box retailer said it would cover the cost of tuition, fees, and textbooks for part- and full-time workers pursuing a qualifying undergraduate degree at over 40 institutions. It will also fund advanced degrees, which pay nearly $10,000 per year for master’s programs at those schools.

The national retailer is the recent company to dangle perks to attract job candidates in a competitive labor market. With the move, Target joins other retailers and restaurant chains, which include Chipotle and Starbucks, having programs that help employees pay the college fees. Walmart recently announced it would cover the total cost of college tuition and books for its employees after previously requiring them to pay $1 a day.

At Target, employees at stores, distribution centers, and headquarters locations in the U.S. will qualify on their first day. Target will cover the total cost for 250 programs aligned to its business, such as computer science, information technology, and business management. Suppose an employee chooses a different specialty or seeks a graduate degree. In that case, Target will pay up to $5,250 for degrees without the master’s and up to $10,000 for master’s degrees each year in direct payments to the academic institution.

Target said it is planning to invest $200 million in the education program over the coming four years. It developed the program with Guild Education, managing the corporate education assistance programs. Participating schools include the University of Arizona, Oregon State University, University of Denver, and Morehouse College.

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