Starbucks will now cover 4 years of college tuition for employees
Now that's a work perk: On Monday, Starbucks announced that instead of covering two years of college tuition for employees, it is doubling the benefit to four years.
The company is partnering with Arizona State University's online degree program to offer all eligible full-time and part-time employees tuition reimbursement for a four-year bachelor's degree, USA Today reports. ASU Online offers 49 undergraduate degree programs with the average tuition setting a student back $60,000 over four years. Starbucks is planning to invest at least $250 million in the project, with the goal of helping at least 25,000 employees graduate by 2025.
More than 144,000 employees currently qualify for the program, almost 2,000 are already enrolled, and they do not have to stay with the company after receiving their degrees. "By giving our partners access to four years of full tuition coverage, we provide them with a critical tool for a lifelong opportunity," Starbucks CEO Howard Schultz said in a statement. "We're stronger as a nation when everyone is afforded a pathway to success."
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Create an account with the same email registered to your subscription to unlock access.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Catherine Garcia has worked as a senior writer at The Week since 2014. Her writing and reporting have appeared in Entertainment Weekly, The New York Times, Wirecutter, NBC News and "The Book of Jezebel," among others. She's a graduate of the University of Redlands and the Columbia University Graduate School of Journalism.
-
Magazine solutions - September 20, 2024
Issue - September 20, 2024
By The Week US Published
-
Magazine printables - September 20, 2024
Issue - September 20, 2024
By The Week US Published
-
6 immersive experiences that bend reality
The Week Recommends Take a journey into the fantastic
By Catherine Garcia, The Week US Published
-
Empty-nest boomers aren't selling their big homes
Speed Read Most Americans 60 and older do not intend to move, according to a recent survey
By Peter Weber, The Week US Published
-
Brazil accuses Musk of 'disinformation campaign'
Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
By Rafi Schwartz, The Week US Published
-
Disney board fends off Peltz infiltration bid
Speed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
By Rafi Schwartz, The Week US Published
-
Disney and DeSantis reach detente
Speed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
By Peter Weber, The Week US Published
-
Visa and Mastercard agree to lower swipe fees
Speed Read The companies will cap the fees they charge businesses when customers use their credit cards
By Peter Weber, The Week US Published
-
Reddit IPO values social media site at $6.4 billion
Speed Read The company makes its public debut on the New York Stock Exchange
By Peter Weber, The Week US Published
-
Housing costs: the root of US economic malaise?
speed read Many voters are troubled by the housing affordability crisis
By Peter Weber, The Week US Published
-
Feds cap credit card late fees at $8
speed read The Consumer Financial Protection Bureau finalized a rule to save households an estimated $10 billion a year
By Peter Weber, The Week US Published