Starbucks bold new plan to fund its employees’ college educations reflects the partnership of two men who, from an economic-class perspective, began life as social underdogs. The coffee chain’s CEO Howard Schultz, was raised in Brooklyn’s Bayview housing projects in Canarsie, and Dr. Michael Crow, Arizona State, grew up in a family that was statistically among the lowest-income earners.
Schultz and Crow managed to finish their college educations, however, the odds are that others like them today won’t.
Schultz and Crow are setting out to address to change those statistics. Today, 50% of college students never finish their degree due in large part to the financial hardship of paying for it.
Starbucks’ employees who work at least 20 hours a week, will have the option to apply for the new Starbucks College Achievement plan which will offer free tuition for juniors and seniors to complete a bachelor’s degree via Arizona State University, and at least 50% tuition reimbursement for freshmen and sophomores.