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California. Target recently announced a new program that would provide employees with debt-free college. Multiple major U.S. employers have begun offering debt-free college as an incentive to attract new workers in a competitive market.became the latest company to offer widespread, free college as an employee benefit.
“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.
Target joins several other major U.S. retailers who have started offering debt-free college as an employee benefit. Walmartrecently announced that it would cover 100% of college tuition and books for its employees beginning this month. “We are creating a path of opportunity for our associates to grow their careers at Walmart, so they can continue to build better lives for themselves and their families,” said Lorraine Stomski, senior vice president of learning and leadership at Walmart.
Still, while the employee incentive programs could help more students defray the cost of future degrees and avoid student loan debt, they do little to address the larger problem of $1.8 trillion in existing outstanding student loan debt. Lawmakers and the Biden administration continue to explore options including
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