Fiat Chrysler Automobiles NV (NYSE:FCAU) is offering free college tuition to all of its U.S. dealership employees via Strayer Education Inc (NASDAQ:STRA).
Chrysler employees 118,000 across its 2,400 locations in the U.S. The deal includes employees at its Chrysler, Jeep, Dodge, Ram and Fiat dealerships. The free college tuition for employees attending Strayer University covers books. A Bachelor’s degrees can be obtained online, reports NBCNews
Chrysler employees could save a lot on college education through the program. The cost to complete a Bachelor’s degree at Strayer University is typically $42,000. Dealships must pay a flat fee to Chrysler to allow their employees to participate in the program. The car company hopes that this offer will allow it to attract and retain talented employees, NBCNews notes.
Chrysler’s free college tuition for employees is currently available in several states in the Southeast. It will expand to include the entire country by the end of the quarter, reports CNNMoney.
FCAU shares were up 1% as of Noon Monday.
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