Joining the ranks of employers who are willing to offer incentives to retain and recruit new employees, Target has announced that it will be covering the cost of tuition for any of its 340,000 employees who want to go to college. This is all part of the corporation's overall plan to not only assist employees with getting the education they may not have been able to due to financial reasons but also keep those who may have needed to take out student loans to achieve their dreams from going into debt.

On Wednesday, Target announced that it will be offering employees the opportunity to go to college debt-free.

According to CNN, tuition will be 100 percent covered, along with the cost of books, for any of the full or part-time employees who would like to pursue an undergraduate education. The tuition will be covered at more than 40 colleges, including those which are historically Black colleges, such as Paul Quinn College and Morehouse College.

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There will also be over 250 programs for employees to choose from when following their dream of a college degree.

Target will also be covering up to $10,000 per year for those who would like to pursue their master's degree, according to CNBC, by sending the payments directly to the institution of the employee's choice. And for those who choose a program outside of the guidelines for full tuition being paid, Target will still pay $5,250 to offset the cost of the program.

Those who are current employees when the program goes into place this fall will qualify automatically, per the news outlet.

According to the statement put out by Target, the tuition will be paid for both in-person and online classes. This means that regardless of the work schedule that employees have, they will be able to find classes that work around it.

Further still, if the employees want to go to a college that is not in their geographic area that is on the list of schools Target will pay the tuition for, as long as there is an online option and if the employees are accepted into the school, the choices of higher learning institutions become far greater.

Over the next four years, Target plans on investing $200 million into their education program, per the statement. And with this amount of money put into the fund, there will be plenty of money to keep both current and future employees out of student debt while bettering their futures, for years to come.

Source: CNBC, CNN, A Bullseye View