Target announced on Wednesday that it would be covering workers’ college tuition and textbooks in a new debt-free education assistance program.
The program will allow part-time and full-time workers in the U.S. to receive “debt-free undergraduate degrees, certificates, certifications, free textbooks and more with no out-of-pocket costs on their first day of work at Target.”
The program is eligible at more than 40 schools and universities.
Target is also offering up to $10,000 given out annually for those pursuing a master’s degree.
The company touted the program as “the most comprehensive debt-free education assistance program available in the retail industry.”
The retail giant plans to invest $200 million over the next four years, paying the full cost for those going into 250 business-aligned programs.
Those going for degrees outside the business-aligned programs will get up to $5,250 sent directly to their school for non-master’s degrees.
“Target employs team members at every life stage and helps our team learn, develop and build their skills, whether they’re with us for a year or a career. A significant number of our hourly team members build their careers at Target, and we know many would like to pursue additional education opportunities. 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,” said Melissa Kremer, chief human resources officer for the company
“Our team members are the heart of Target’s strategy and success, and we have a long history of investing in industry-leading pay, extensive benefits and career opportunities to help our team thrive and have rewarding careers at Target,” Kremer added.
The move follows a similar announcement from Walmart, which said last week it would begin covering college tuition and books for its associates.