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Thread: Starbucks Will Pay Full College Tuition For Thousands Of Its Workers

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    Default Starbucks Will Pay Full College Tuition For Thousands Of Its Workers


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    Default Re: Starbucks Will Pay Full College Tuition For Thousands Of Its Workers

    I think that this is awesome. What a win-win. Starbucks gets great PR and should have no problems in filling its employment vacancies with high quality associates, who will be very motivated to keep their bosses happy. And the people who work for them who wish to pursue a college degree receive an education from an accredited university without getting drowned by student debt.

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    Default Re: Starbucks Will Pay Full College Tuition For Thousands Of Its Workers

    ^^^ only 'problem' which was pointed out was that a large percentage of Starbucks' employees ALREADY have college degrees ... many from better rated colleges than the Arizona State University they are hooking up with for this program.

    But yes this is a marketing win-win for Starbucks. If college graduates are still going to be forced to work at low paying jobs outside their fields of study in the future, this will create a large element of employee 'loyalty'. If college graduates are actually able to find work in their field of study in the future, those high earning graduates will still remain 'loyal' Starbucks customers.

    However, from an investor's standpoint, it remains to be seen how this will affect Starbuck's future profitability / stock share price. This new 'employee benefit cost' is rather significant.

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    Default Re: Starbucks Will Pay Full College Tuition For Thousands Of Its Workers

    Quote Originally Posted by rickdugan View Post
    I think that this is awesome. What a win-win. Starbucks gets great PR and should have no problems in filling its employment vacancies with high quality associates, who will be very motivated to keep their bosses happy. And the people who work for them who wish to pursue a college degree receive an education from an accredited university without getting drowned by student debt.
    Lets not forget the third "win"- the one for ASU. Both in terms of the extra $$ going into ASU coffers plus the free publicity/advertising that they're getting. I love the pursuit of the American dream and the concept of bettering oneself every bit as much as you or the next person. I totally get the win/win aspect for Starbucks as a corporation vis a vis attracting/retaining motivated employees.
    Having said this, one should ask just how well an online degree is valued by potential employers. How many doors will it really open ? Is online degree viewed as BA/BS lite or High School deluxe diploma ? I see that there are online MBA programs out there. If an individual who got their MBA online came before you (or one of your former bosses) would you chose them over someone who actually went to Harvard, etal schools ? (I know there are other factors to consider).

    I suspect that many people taking online degree courses are already employed and "on a career track" with a company and are bettering themselves without taking leave .
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    Default Re: Starbucks Will Pay Full College Tuition For Thousands Of Its Workers

    ^^^ the 'jury is still out regarding whether or not this is a '3rd win' for ASU. In the immediate time frame, that depends on the actual amount of tuition money that Starbucks will wind up paying them. The news blurb says 'valued' at $10k per year, not costing $10k per year !!! Also, these payments could come in an alternate form i.e. an 'endowment' from Starbucks which would provide major advantages regarding Starbucks corporate income tax bills ( at the expense of US taxpayers ).

    On the flip side, there is indeed some concern that a 100% online degree will have 'acceptance' problems by potential future employers other than Starbucks. However, from an ASU 'cost' standpoint, there will essentially be zero actual cost difference between putting on an online class for 20 people versus 100 people !!! Also, should ASU's reputation be impacted a la 'University of Phoenix', the intangible future 'costs' to ASU, to brick and mortar ASU alumni and students, etc., could be significant as well.

    So without these details there's really no way to know who the 'winners' and 'losers' actually are.

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    Default Re: Starbucks Will Pay Full College Tuition For Thousands Of Its Workers

    Quote Originally Posted by Melonie View Post
    ^^^ only 'problem' which was pointed out was that a large percentage of Starbucks' employees ALREADY have college degrees ...
    Good point. Makes Starbucks seem like a good corporate citizen without the associated costs. Watch for Starbucks to reject a lot of job applicants that don't already have college degrees to minimize the impact of the program the cynic in me says.

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    Default Re: Starbucks Will Pay Full College Tuition For Thousands Of Its Workers

    ^ in theory, couldn't someone with a BA/BS go back, and get a second BA/BS in a different field?
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    Default Re: Starbucks Will Pay Full College Tuition For Thousands Of Its Workers

    Quote Originally Posted by JenniferNorth View Post
    ^ in theory, couldn't someone with a BA/BS go back, and get a second BA/BS in a different field?
    Yes, but it would be better to go back to get a masters in a different field because you already fulfilled a lot of general education requirements with your first BA/BS.

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    Default Re: Starbucks Will Pay Full College Tuition For Thousands Of Its Workers

    Very true. But you never know, Starbucks might do just as you said, hire individuals with degrees, only to have them turn around and get additional degrees anyway, not really saving them a ton of money. I mean since the company is paying for it, people might just go back for another BA/BS, even though a master's makes more sense.
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    Default Re: Starbucks Will Pay Full College Tuition For Thousands Of Its Workers

    Quote Originally Posted by Melonie View Post
    ^^^ ....

    However, from an investor's standpoint, it remains to be seen how this will affect Starbuck's future profitability / stock share price. This new 'employee benefit cost' is rather significant.
    I could easily imagine the discount they have negotiated wit ASU is quite substantial.

    It may not be Starbuck's fault that college graduates are working there at near minimum wage, as that wage structure is their corporate policy. But seems to me that their profit margin is enough that wages could easily be higher, but for all the college graduates wanting to work there. (supply/demand)
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    Default Re: Starbucks Will Pay Full College Tuition For Thousands Of Its Workers

    I do think this is very nice on Starbucks' end but...

    1. It's probably a reimbursement program like most companies, upfront costs could still be prohibitive for a lot of people.

    2. Also, for 2 years of undergraduate I would think most people would be better off going to their local community college. Aren't community colleges quite generous w/ their aid, even for people who could afford it? And for people who DO demonstrate financial need CCs often pay 100% costs and a stipend.

    Granted, some who do have a 4 year degree could use it to get another 4 year degree in a different field. I have to agree w/ what has been said before though, online programs aren't the same as a brick and mortar school. And if someone already has a bachelor degree and their best option is to work fulltime at Starbucks for the tuition program, they already have a lot of issues on their hands.

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    Arrow Re: Starbucks Will Pay Full College Tuition For Thousands Of Its Workers

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    (snip)Arizona State University president Michael Crow told The Chronicle of Higher Education that Starbucks isn't contributing any money toward the scholarship. Instead, Arizona State will essentially charge workers less than the sticker price for online tuition. Much of the remainder would likely be covered by federal aid since most Starbucks workers don't earn a lot of money.

    Workers would pay whatever costs remained out of pocket for the first two years, and Starbucks would bear no costs.

    Starbucks had previously declined to say how much it was contributing to the scholarship. But in a subsequent email Wednesday evening, Starbucks said that the scholarship is being "funded by ASU."(snip)

    (snip)"As with most matters involving financial aid, the details of the program are complicated and would vary depending on a worker's situation. For the freshman sophomore years, workers would pay any remaining costs after factoring in the discount from ASU and federal aid.

    Based on estimates provided by Starbucks, the worker would pay around $1,000 a year on average out of pocket.

    The program would work much the same way for the junior and senior years, except that Starbucks would reimburse workers for their out of pocket costs, once they completed 21 credits.(snip)


    Takeaway here is that, contrary to the first impression created by the news coverage, in point of fact Starbucks new program does NOTHING to benefit employees who are hired with zero college credits ... and forces those employees to pay out of pocket for their first 2 years tuition costs before becoming eligible for Starbucks reimbursement in the 3rd and 4th years. This of course translates into Starbucks offering little advantage to applicants with zero college credits, but significant benefits for applicants who already have 2 or 4 year degrees. This is a change from Starbucks earlier tuition reimbursement program, which DID pay some costs for 1st and 2nd year college students.

    Also, given Starbuck's expertise at tax 'minimization' ... see ... it's also fairly likely that ASU is not offering discounts to Starbucks employees purely out of the 'goodness of their heart'. Instead the possibility of a generous tax-deductible corporate contribution to ASU by Starbucks comes to mind.
    Last edited by Melonie; 06-19-2014 at 04:27 PM.

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    Default Re: Starbucks Will Pay Full College Tuition For Thousands Of Its Workers

    Well, Starbucks just negotiated a discount rate for their employees, with no other contributions, and they get great publicity for very little work on their part, with only slight advantages to their customers. Well, I hate their coffee's bitter and burnt taste and their outrageously high prices anyway. Now I have even less incentive to buy anything with their name on it.
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    NOTE: anything I post here, outside of a direct quote, is my opinion only, which I am entitled to. Take it for what you estimate it is worth.

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