As back to school shopping season gets into full swing (gulp, already!?), the cost of college is top of mind for many – and with good reason. According to the College Board, the average cost of tuition and fees for the 2017–2018 school year was $34,740 at private colleges, $9,970 for state residents at public colleges, and $25,620 for out-of-state residents attending public universities.
That’s why Walmart’s announcement that it will pay for associate’s or bachelor’s college degrees for its 1.5 million full- and part-time employees is kind of a big deal. The nation’s largest retail employer announced in late May that employees will be able to pursue degrees in business or supply-chain management at three non-profit schools for just one dollar a day. The program, which is available to all Walmart U.S. and Sam’s Club employees, will subsidize the cost of higher education. Degrees are being offered through the University of Florida, Brandman University in Irvine, California, and Bellevue University in Nebraska – nonprofit schools selected for their focus and strong outcomes on serving working adult learners.