STUDENT debt has been a big problem – but some retailers are offering a potential solution by covering college tuition for workers.
Currently, total student loan debt sits at $1.73trillion and rises six-fold quicker than the growth of the economy, according to EducationData.
Furthermore, the education research firm notes that there are 42.3million Americans troubled with student loans, with the average debt per borrower sitting at $39,351.
Some have called on President Joe Biden to cancel up to $50,000 for each borrower to give millions of Americans relief – but that may not happen.
Instead, there are other options if you’re a student looking to avoid going tens of thousands of dollars into debt.
If you can put up with working for a major retailer – then it’s possible you will never have to worry about taking out student loans.
Below we round up some major retailers that are offering to pay your college tuition.
Just last month, Amazon announced it would now cover 100% of college tuitions for its 750,000 workers.
In addition to paying tuition fees, Amazon will also cover textbook costs.
Previously, Amazon covered up to 95% of tuitions, fees, and textbooks via its career choice program.
To qualify, an Amazon worker must exceed 90 days of employment.
Moreover, Amazon will launch coverage on GEDs, programs for high school diplomas, and English as a second language certification.
Target will also cover 100% of college tuitions and textbook costs – but some requirements are a bit different.
As soon as the initial start date of the job, Target’s part-time and full-time workers are eligible for the incentive.
However, it is only available at select schools. Specifically, Target employees will have a choice between 250 programs at more than 40 schools.
And for those looking to maximize their education, Target will cover up to $10,000 each year at select mater’s programs.
This includes Oregon State University, the University of Arizona, as well as other eligible programs available within its network.
According to Target, it has more than 340,000 employees.
Another major retailer that will fully cover tuition fees and books is Walmart.
Under its Live Better U education program, roughly 1.5million part-time and full-time employees of Walmart and Sam’s Club are eligible to earn college degrees or develop trade skills, without risk of student debt.
Moreover, American’s largest employer confirmed it is removing its previous $1 per day charge for associates who participate in its education program.
In addition, Walmart is pouring $1billion into “career-driven training and development” during the five years.
Meanwhile, you’ll want to keep in mind that some have claimed that these companies offer poor working conditions – in particular at Amazon.
Recently, Amazon chief executive officer Andy… Brinkwire Brief News.