Target Launches $200M Free Tuition Program for Employees

Amid the prolonged labor shortage, Target is the newest retailer to pump up employee perks with free education benefits. A week after Walmart announced a $1 billion employee college tuition program (see 2107270053), Target said Wednesday it will offer its 340,000 U.S.-based part-time and full-time employees debt-free education assistance, investing more than $200 million over four years. Beginning in fall, employees will be eligible for debt-free undergraduate degrees, certificates, free textbooks and other supplies with no out-of-pocket costs. The program is available on employees’ first day of work. The retailer will provide direct payments to employees’ academic institutions of up to $5,250 for non-master's degrees and up to $10,000 annually for master’s programs, it said. Target’s program, developed with education and upskilling platform Guild Education, will support employees taking courses for high school completion, college preparation, English language learning and select certificates, certifications, boot camps, and associate and undergraduate degrees. Associates can attend classes at more than 40 schools, colleges and universities and choose from 250 business-aligned programs including business management, operations, information technology, computer science and design. Those who opt in will have no out-of-pocket costs and “flexibility to find opportunities that fit with their interests, schedules and career goals.” Academic institutions include the University of Arizona, Oregon State University, University of Denver and eCornell, plus historically Black colleges and universities Morehouse College, Paul Quinn College and others, Target said.