Starbucks to Expand its College Tuition Assistance Program

An announcement has been made by Starbucks Corp that the largest coffee chain is going to expand its college tuition assistance program so that it can cover the full cost of a four-year online bachelor's degree.

This step is a major expansion of the company's earlier commitment. As part of its 'Starbucks College Achievement Plan', it has been providing tuition coverage to juniors and seniors in association with Arizona State University since last June.

This recent step is going to extend the program in order to cover the whole four years to its partners for a bachelor's degree through ASU's online program. According to Starbucks CEO Howard Schultz, it is expected that the company is going to spend minimum $250 million over the next decade on tuition for more than 20,000 employees.

Employees of the company asked for the benefit which is intended for employees of Starbucks working 20 or more hours a week. As per Reuters, about 80% of the company's US workforce can take benefit of this program.

"The unfortunate reality is that too many Americans can no longer afford a college degree, particularly disadvantaged young people, and others are saddled with burdensome education debt", said Schultz.

The students are not required to complete their degree program or stay with the company after getting their diploma. Online diploma program of ASU is believed one of the best in the country and it has earned the spot of eighth best online bachelor's program in US News & World Report's ranking.

The recent news comes when other food and retail outlets, like McDonald's and Wal-Mart, are increasing wages and also putting efforts to enhance benefits for workers. Starbucks would hire 10,000 'opportunity youth' as part of its 'Race Together' campaign through it plans to address race relations in the US.