Walmart (WMT) to Spend Over $1 Billion in Next 5 Years to Fully Cover College Tuition and Books for Associates

Walmart (NYSE: WMT) announced today plans to invest over $1 billion in career-driven training and development of its associates over the next five years.

The retail titan said it will fully cover costs of college tuition and books for about 1.5 million of its employees. The plan will become effective on August 16.

“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.

“This investment is another way we can support our associates to pursue their passion and purpose while removing the barriers that too often keep adult working learners from obtaining degrees.”

The company will remove the $1 a day fee for associates to make all education programs free. As a result, around 1.5 million of its full-time and part-time employees can earn college degrees or acquire skills for free.

“We’re also excited to add in-demand college degree and certificate options in business administration, supply chain and cybersecurity. These additional offerings join a robust catalog of programs to set associates up for new career opportunities. Our education offerings tie directly to our growth areas at Walmart, and what better way to fill the pipeline of future talent than with our own associates,” Stomski added.

Walmart also announced it is partnering with four academic institutions, including Johnson & Wales University, the University of Arizona, the University of Denver and Pathstream.

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