Walmart is going to start helping employees get a college degree for the low price of $1 a day. But there's a catch.
Walmart announced its new education benefit Wednesday. As part of the program, employees can get an associate's or bachelor's degree, but it has to be in business or supply chain management, and the employee only has three universities to pick from.
Most Walmart employees can take classes toward a degree at the University of Florida, Brandman University or Bellevue University. Walmart said the company picked those schools "for their focus and strong outcomes on serving working adult learners."
The employee contributes the equivalent of $1 a day toward the college degree, and Walmart subsidizes the cost of tuition, books and fees.
The program is available to full-time, part-time and salaried Walmart employees at U.S. stores, supply chains and the home office, as well as Sam's Club associates.
Some other major companies like Starbucks and Amazon also offer tuition support programs for some employees.