Fidelity paying for many entry-level employees to complete undergrad degrees

The Fully Funded Undergraduate Degree Program will cover expenses for select programs

(Steven Senne, Copyright 2019 The Associated Press. All rights reserved)

JACKSONVILLE, Fla. – Fidelity Investments has announced that it will offer fully funded undergraduate degrees to its entry-level employees.

The Fully Funded Undergraduate Degree Program will fully pay for tuition, books, fees, and taxes for select two- and four-year programs. It is available to entry-level customer service phone representatives working in the company’s regional centers across the country, with concentrated populations in Texas, New Hampshire and Kentucky. Once eligible associates complete an application, Fidelity will pay the cost directly to the school.

The degree programs are designed for working adults and are offered in a variety of majors that align with Fidelity’s business and the financial services industry.

“We are constantly evolving our benefits so that we can improve the long-term success of our associates and our customers,” says Megan Bourque, head of benefits at Fidelity Investments. “This new benefit will create growth opportunities for our associates and increase accessibility to higher education, something we’ve been focused on for years through our student-debt relief benefit.”

Fidelity will also continue to offer a student debt repayment benefit to its associates. Since launching the program in 2016, Fidelity has eliminated $67 million in principle, $31 million in interest payments, and 9,737 years of loan payments.

For more on Fidelity’s program, click here.

Other businesses are starting to offer free degree programs to employees to avoid student debt. Solutionaries takes a look at other similar programs available for adults. You can read that story and hear one medical assistant’s experience with a debt-free program here.

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