Giving Compass' Take:

• Walmart's new college assistance program chose three institutions where employees can enroll to get an associates or bachelor's degree in business. Those three universities are the University of Florida (specifically its UF Online), Brandman University (known for serving Hispanic students) and Bellevue University (which was early in offering online programs).

• How beneficial is this partnership for the employees and for Walmart? Can Walmart in addition to providing college assistance also provide ongoing development training? 

• Read about the specific highlights and benefits of the education program. 

Walmart, the largest private employer in the U.S., has announced a new benefit for employees that covers most of the costs of attending one of three nonprofit colleges, as long as they major in business or supply-chain management.

Employees pay $1 a day to participate, and the company covers “tuition, books and fees,” according to an explanation of the program on the retail giant’s website.

The move was the latest salvo in what is becoming an arms race by large retail chains to offer education benefits. Employers like Walmart and Starbucks typically have high employee turnover, and they know that training new workers is expensive. So education benefits can provide an incentive for workers to stick around.

Walmart is touting its new program as a “path to debt-free college,” and it involves an exclusive arrangement with three nonprofit colleges—University of Florida (specifically its UF Online), Brandman University (known for serving Hispanic students) and Bellevue University (which was early in offering online programs).

Walmart officials say they selected the colleges because of their track records serving working adults and their high graduation rates compared to similar programs by other institutions.

Gary Brahm, chancellor of Brandman University, which is based in California, said his institution went through a “very rigorous process” to be selected by the retail giant. “They spent a lot of time with me and my folks, and I went to Bentonville,” the Arkansas town where Walmart is headquartered.

At University of Florida, though, Evangeline Cummings, the assistant provost and director of UF Online, said that Walmart is not getting any special treatment compared to the many other employers it works with who agree to pay tuition for their workers.

Read the full article about Walmart colleges by Jeffrey R. Young at EdSurge