Retail company Target is launching a new debt-free education assistance program for over 340,000 of its full-time and part-time employees in the United States.
Target announced on Aug. 4 that it will pay the cost of tuition fees and textbooks for its employees in over 250 business-aligned programs from over 40 institutions in an attempt to attract and retain workers.
Target said it will also pay up to $5,250 for employees who choose a different specialty and up to $10,000 annually for those who will pursue a master’s degree.
Target is investing $200 million in the education program, which was developed in collaboration with upskilling platform Guild Education, for the next four years, according to its press release.
Participating institutions include University of Arizona, Morehouse College, and Oregon State University.
Target described the initiative as “the most comprehensive debt-free education assistance program available in the retail industry.”
The move comes after Walmart announced last week that it would pay the full cost of college tuition and books for its employees, eliminating a daily $1 fee to have their tuition and books covered.
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