Target Will Now Pay 100% of College Tuition and Textbooks for Employees

In a bid to attract more workers, retail giant Target has laid out a very interesting proposition.

The company has announced that it would pay 100% of college tuition and textbooks.

Target is rolling out a new education program that will cover the cost of associate and undergraduate degrees at select schools. It developed the program with Guild Education, a company that manages corporate education assistance programs. Participating schools include the University of Arizona, Oregon State University, University of Denver and Morehouse College.

Other companies, including Walmart, Starbucks, and Chipotle, offer similar debt-free education programs.

Starting this fall, the company will cover the cost of tuition, fees and textbooks for part- and full-time workers who pursue a qualifying undergraduate degree at more than 40 institutions. It will also fund advanced degrees, paying up to $10,000 each year for master’s programs at those schools.

Target will cover the full cost for 250 programs aligned to its business, such as computer science, information technology and business management. If an employee chooses a different specialty or seeks a graduate degree, the company will pay up to $5,250 for non-master’s degrees and up to $10,000 for master’s degrees each year in direct payments to the academic institution.

“A significant number of our hourly team members build their careers at Target, and we know many would like to pursue additional education opportunities,” Melissa Kremer, Target’s chief human resources officer, said in a statement. “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 aims to invest $200 million in the education program over the next four years.

Disclaimer: We have no position in any of the companies mentioned and have not been compensated for this article.