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Walmart to subsidize higher education costs for US employees

Walmart Inc. on May 30 unveiled a new employee benefit program that would give its associates in the U.S. access to affordable college degrees in business or supply chain management.

The U.S. retail giant has partnered with education benefits platform Guild Education to offer its new employee perk. Walmart said it will subsidize the cost of tuition, books and fees, allowing associates under the program to contribute only $1 a day toward a college degree and eliminating the need for student loan debt.

The program will be offered through the University of Florida, Brandman University and Bellevue University, and will be available to full-time, part-time and salaried Walmart U.S. store, supply chain, home office and Sam's Club associates.

Employees can also earn college credit for paid training at Walmart Academies.

In addition, Walmart said it will cover the complete cost for associates and eligible family members for earning a high school diploma or GED.