Bullseye! Target promises to pay full tuition for college degrees
Minneapolis, Minnesota – If you're in the market for a new job or a career change, Target may be able to help you out.
On Wednesday, Target announced it would pay for the full college tuition of its 340,000 US-based employees, along with any new employee who joins one of its US teams.
In its announcement, Target stated that all part-time and full-time employees would be eligible for debt-free undergraduate degrees and certifications. Target also vowed to cover the cost of textbooks as a part of its newly founded education assistance program.
Over the next four years, the retailer will be contributing $200 million to what it's calling "the most comprehensive debt-free education assistance program available in the retail industry."
According to its website, Target team members will be able to attend classes at over 40 different schools, with the option to choose from 250 "business-aligned programs" centered around business management, operations IT, design, and more.
Target is also offering tuition assistance for its employees who aspire to obtain a degree or certification outside the company's covered business-aligned programs – including master's degrees.
According to its announcement, the company will provide direct payments to the educational institution of up to $5,259 for non-masters degrees and certificates, and up to $10,000 for master's degrees each year.
The company's chief human resources officer, Melissa Kremer, said, "We don’t want the cost to be a barrier for anyone, and that’s where Target can step in to make education accessible for everyone."
Target's educational assistance program will kick off in the fall of 2021, and hopefully be an incentive to gain new team members.
Cover photo: Collage: 123RF/jittawit & sepavo