Starbucks CEO Howard Schultz (Photo : Reuters )
Starbucks Coffee announced that the company is expanding their tuition assistance for their workers. The management has approved to cover the entire cost of an online undergraduate degree.
The coffee chain giant disclosed on Monday that it is planning to double its free college assistance. The previous two years college aid will now be a full four year college degree tuition fee aid. The reimbursement process will also be faster this time. Reimbursements will be received after every semester instead of every after 21units completion, USA Today reported.
The mentioned program is in partnership with Arizona State University. The program is open to all eligible full time and part time employees of Starbucks Coffee.
The coffee chain is to invest around $250 million or more to be able to assist some 25,000 employees to graduate by 2025. The average tuition fee of a four-year bachelor degree at ASU is around $60,000.
Howard Schultz, CEO of Starbucks Coffee, announced the program at the annual shareholders meeting in Seattle Washington. He explained that the program aims to highlight the company's commitment to help their people to get a college degree, according to Time.
"By giving our partners access to four years of full tuition coverage, we provide them with a critical tool for a lifelong opportunity," stated Schultz, in a statement. "We're stronger as a nation when everyone is afforded a pathway to success."
According to Linda Mills, Starbucks spokesperson, around 144,000 current employees will be able to qualify for the tuition assistance.
Around 2,000 current Starbucks employees are already enrolled in the free tuition program, which offers 49 undergraduate degree programs via ASU Online.
