About 340,000 employees in stores, distribution centers, and headquarters locations will be eligible for debt-free undergraduate degrees.
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The Target Corporation said Wednesday that it will pay the full cost of college for all part- and full-time team members in the United States beginning this fall. Target will invest $200 million over the next four years in this endeavor.About 340,000 employees in stores, distribution centers, and headquarters locations will be eligible for debt-free undergraduate degrees in select concentrations, as well as certificates, certifications, textbooks, and more.They will pay no out-of-pocket costs and will be eligible as of their first day of work at Target. The company will also pay up to $10,000 a year for master’s programs.The offer includes 250 business programs in over 40 schools, colleges, and universities. Related: The 3 Best Retail Stocks to Shop for in AugustMelissa Kremer, Target’s chief human resources officer, said in a statement, “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.”She went on, “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.”The education assistance program is part of Target Forward, the company’s new sustainability strategy aiming to create an equitable and inclusive workforce.