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Walmart offers employees new perk: cheap access to college

NEW YORK (AP) -- Walmart is offering its employees a new perk: affordable access to a college degree.

America's largest private employer, which in the past has helped its workers get their high school or equivalency degree, hopes the new benefit will help it recruit and retain higher quality entry-level employees in a tight U.S. labor market.

The company is teaming up with Denver-based startup Guild Education to offer employees the chance to obtain a bachelor's degree in business or supply-chain management.

It will cost a dollar a day at one of three non-profit universities with online programs that have had success working with adult learners: the University of Florida, Brandman University and Bellevue University. It plans to eventually expand to more types of degrees.

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