Walmart announced that it would offer to pay for part of its employees in the United States to go to college. However, the retailer set up some restrictions for the new program.
The Atlantic reports that employees will be able to earn their associates or bachelor's degrees in either business or supply chain management. Walmart will pay for any costs after financial aid, including tuition, books and any fees, helping the need for employees to take out any private loans. Employees will be able to attend University of Florida, Brandman University and Bellevue University, which all emphasize on adult students.
All employees will have to do is pay $1 per day to Walmart, according to The Atlantic. The retailer did not specify if employees are required to stay with the company once they have completed their degree.
Over the years Walmart has received negative press for its low wages, lack of room for career growth and limited benefits, The Atlantic reports. The new education program is aiming to help the company become more worker-friendly.
Additionally, Walmart and its employees aren't the only ones to benefit from the program. Colleges will also see increased enrollment and will be able to mold skills that employers wants, creating a high ROI.
Walmart is partnering with the Lumina Foundation to measure the impact and effectiveness of the new offering.
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