RIVERWOODS, Ill.--(BUSINESS WIRE)--Discover announced a significant new education assistance benefit that provides all eligible U.S.-based employees the opportunity to earn a bachelor’s degree online from an accredited public or non-profit private university at no cost.
Known as The Discover College Commitment, the benefit covers tuition and required fees, books and supplies needed to complete select online degrees at one of three schools – the University of Florida (via UF Online), Wilmington University and Brandman University. The benefit has no tenure requirement so employees can start participating as soon as they want regardless of how long they have been with the company, including new employees on their first day.
“Investing in our employees and their futures will not only make us a stronger company, but have a lasting positive impact on those who might otherwise never get the chance to attend college,” said Jon Kaplan, vice president of training and development at Discover. “We will continue to cultivate an environment that encourages employees to have the professional development they seek because the company values their skills and contributions.”
Discover launched the program through the Guild Education platform. As part of the benefit for Discover employees, Guild provides academic counseling, to help employees find the program that best fits their educational and professional development.
“Discover’s new bachelor’s degree program is creating a life-changing opportunity for its employees across the U.S. to earn a college degree - at no cost - while continuing their careers,” said Guild Education CEO Rachel Carlson. "Discover’s meaningful investment in employees is incredibly rare and generous. We hope Discover’s bachelor’s degree program will lead the way for other financial services companies to follow suit, offering affordable and accessible higher education options for working adults.”
Nearly 90 percent of the Discover employees without a post-secondary degree work in the company’s customer care centers, all of which are located in the U.S.
“Unlike a number of other large companies with degree-focused education-assistance programs, The Discover College Commitment Program combines full-ride funding toward the cost of a select bachelor’s degree with no limit on the amount of assistance an employee can receive, and our employees are eligible for this benefit on day one of employment. Working with select quality schools that yield positive results will also help our employees improve their chances of achieving a brighter financial future,” Kaplan added.
Additional educational and training benefits that Discover provides its employees include:
- Education Assistance Program provides eligible employees tuition reimbursement for a qualified Associate's, Bachelor's, or graduate degrees from accredited colleges outside of the Discover College Commitment program.
- The Discover Leadership Education Advancement Program (LEAP) provides select employees the opportunity to earn a bachelor’s degree while focusing on leadership development through academic coursework.
- The Discover on-site MBA program from Lake Forest Graduate School of Management provides select employees a degree that helps strengthen key leadership and business management skills.
- Discover’s internal professional development program offers hundreds of courses on everything from communication and decision-making to agile software development.
For more information about the Discover College Commitment program, including eligibility requirements, please visit www.mydiscoverbenefits.com/keyword/education-assistance.
Discover Financial Services (NYSE: DFS) is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company issues the Discover card, America's cash rewards pioneer, and offers private student loans, personal loans, home equity loans, checking and savings accounts and certificates of deposit through its direct banking business. It operates the Discover Global Network comprised of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance in 190 countries and territories. For more information, visit www.discover.com/company.