Starbucks announces plan to cover part of the tuition bill for an online bachelor’s degree for U.S. employees who work at least 20 hours a week in its cafes, corporate offices and roasting plants.
It seems Starbucks is joining the cause with President Obama in an effort to help millions of Americans with getting an education, without being left overburdened with student loan debt at the end of their tenure.
America’s favorite coffee brewer is teaming up with Arizona State University for this new venture, to provide tuition reimbursement and financial aid to U.S. employees who enroll in the school’s online bachelor’s degree program.
Employees can choose from 40 different areas of study ranging from retail management to electrical engineering. The program is open to any of the company’s 135,000 US employees as long as they possess the grades/test scores required to gain admission to Arizona State.
This means a great deal to employees who are currently without degrees or in the pursuit of obtaining one, for example, a barista with at least two years of college credit is eligible for full tuition paid for by the company. Those with fewer credits will be required to pay part of the cost though with the help of government and university aid, many courses may end up costing said employee little to nothing.
More notable is that under this new plan, Starbucks will not require that you remain with the company after having obtained your degree.
In a statement, Cliff Burrows, Starbucks group president said:
“We do not require or expect our partners who join this program to stay with us after they graduate. “We hope they’ll stay with us and grow their careers, but they are free to go onto the next stage of their careers and lives.”
Though many employers offer tuition reimbursement, these programs often come with strict limitations (i.e. full cost not covered, new employees are excluded and requiring employees remain with the company post-graduation). This is a new era of major corporations and Starbucks seems to be at the forefront of this new reform.
For the full details, head over to Yahoo Finance.
Urbanites, what do you think of Starbucks new venture? Do you think more corporations should follow suit? Share your thoughts in the comments section below!