Discover will follow the lead of Walmart and various other companies, offering its employees a scholarship pursuing a degree related to business or computer science.
According to Discover, the scholarship is available for seven different majors and will cover tuition and fees, books, and supplies. 99% of workers will be eligible – the 1% includes employees that work less than 30 hours per week. Even new hires are eligible on their first day of employment.
Walmart, McDonald’s and other large corporations recently unraveled similar scholarships. In fact, according to a survey by the Society for Human Resource Management, more than half of companies partially subsidized their employees’ education in 2017. If the trend continues, this figure will increase this year.
To deliver the program, Discover will partner with Guild Education. Through this platform, employees will have an advisor that helps them apply, register with classes, and select an appropriate major.
Additionally, while most companies will stop their contribution at $5,250 a year, for the money is taxed after this, Discover will not. They have announced that if an employee’s award exceeds that amount, they will pay the tax.
The degree must be from Wilmington University, Brandman University, or the University of Florida, but other than that requirement and the major, there are no strings attached.
This corporate trend is one of the more wholesome and inspiring these days, and hopefully it will continue to expand for years so that all employees can receive an education and better impact their companies.
Featured image via Wikimedia Commons
