Story at a glance
- Fidelity Investments will now fully pay for tuition, books, fees, and taxes for entry-level employees enrolled in select two-year and four-year undergraduate programs.
- The offer only applies to entry-level customer service phone representatives.
- After eligible employees fill out an application, the company will pay for tuition, books, and fees directly to the college or university.
Fidelity Investments announced this week it will fully fund undergraduate degrees for some of its employees.
Under the “Fully Funded Undergraduate Degree Program,” entry-level customer service phone representatives working in regional centers across the country can apply to have select two-year and four-year programs paid for by the company.
Fidelity will fully pay for tuition, books, fees and taxes and send the funds directly to colleges or universities to avoid disbursements.
“We are constantly evolving our benefits so that we can improve the long-term success of our associates and our customers,” said Megan Bourque, head of benefits at Fidelity Investments, in a statement.
“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.”
Around 18,000 employees will be eligible for the program with the bulk of those employees working at regional centers in Texas, New Hampshire and Texas, according to a Fidelity Investments spokesperson
Eligible employees have no more than three years of professional experience or have recently changed jobs.
The company is using a “scan, try, scale” approach to the program, meaning full tuition funding is currently only available to workers who support retail customers or benefits and plan sponsors, the spokesperson added.
Interested employees will be able to choose from 190 two and four-year programs at more than 30 schools for those interested in majoring align with business and the financial service industry.
Fidelity hired more than 16,000 employees last year and is currently working on bringing on another 16,000 workers by the end of the year, a spokesperson confirmed to Changing America. The program was launched in part to attract new workers.
Copyright 2023 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
