Carvana Launches Internal Tuition and Education Assistance Program

Rhea-AI Summary

Carvana (NYSE: CVNA) has introduced Carvana KEYS, an initiative designed to support team members in completing their undergraduate degrees. Through collaboration with InStride, the program offers financial and programmatic assistance, helping to alleviate the burdens on employees pursuing education. Carvana emphasizes its commitment to fostering a future-ready workforce by accommodating diverse educational paths, including options for those not yet college-ready. This initiative reflects Carvana's mission to innovate not only in car sales but also in employee development.

Positive

• Launch of Carvana KEYS initiative to support employee education.
• Collaboration with InStride to provide financial and programmatic assistance.
• Opportunity for employees to pursue degrees online through a network of academic partners.

Negative

• None.

Leading online auto retailer Carvana (NYSE: CVNA) has launched Carvana KEYS (Keeping Education in Your Sight) to assist team members pursuing the completion of an undergraduate degree. Thousands at Carvana can now apply to pursue financial and programmatic assistance in earning their college degrees with this internal initiative.

Working with InStride, the premier global provider of strategic enterprise education™ programs, Carvana KEYS will help minimize the financial and logistical burdens that can be barriers to completing an undergraduate degree. There is also the opportunity for those who may not be college-ready to start with an earned admission program to jumpstart their college career. All programs are offered online through InStride’s curated global network of academic partners.

“As a vertically integrated company, we have a myriad of jobs across industries, and recognize that there are numerous paths that lead to Carvana,” said Ernie Garcia, Carvana founder and CEO. “So we’re proud to support the diverse backgrounds, experience and talents of our teammates who have yet to complete – or pursue – a college degree with Carvana KEYS.”

Carvana is The New Way to Buy a Car®, providing customers with a national inventory of more than 20,000 vehicles that they can shop, finance and purchase, all in as little as 5 minutes from the comfort of home or on the go via their mobile device. Customers can also trade-in or sell their vehicle to Carvana by providing the VIN or plate number, answering a few questions, then get a real offer in just two minutes.

“Carvana is recognized for the innovative and creative way it is disrupting the traditional car-buying process,” said Vivek Sharma, CEO of InStride. “We’re pleased that they are showing the same initiative when it comes to creating a future-ready workforce with the Carvana KEYS program and we’re proud to work with them on this endeavor.”

InStride has agreements with a curated network of quality academic institutions in the United States, Latin America, Australia and Europe, including Arizona State University (ASU), City University of New York (CUNY), the University of Wisconsin, and the University of Washington.

About Carvana (NYSE: CVNA)

Founded in 2012 and based in Phoenix, Carvana’s (NYSE: CVNA) mission is to change the way people buy cars. By removing the traditional dealership infrastructure and replacing it with technology and exceptional customer service, Carvana offers consumers an intuitive and convenient online car buying and financing platform. Carvana.com enables consumers to quickly and easily shop more than 20,000 vehicles, finance, trade-in or sell their current vehicle to Carvana, sign contracts, and schedule as-soon-as-next-day delivery or pickup at one of Carvana’s patented, automated Car Vending Machines.

For further information on Carvana, please visit www.carvana.com, or connect with us on Facebook, Instagram or Twitter.

About InStride

As the premier global provider of strategic enterprise education™ (SEE) programs, InStride enables employers to provide career-boosting degrees and certificates to their employees, through leading global academic institutions across the U.S., Mexico, Europe and Australia. InStride helps organizations achieve transformative business and social impact by unlocking the power of education, through advanced technology-enabled experiences for learners and corporate partners alike. For more information, please visit www.instride.com or follow InStride on Twitter and LinkedIn.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210108005089/en/

FAQ

What is Carvana KEYS?

Carvana KEYS is an initiative launched by Carvana to assist employees in pursuing their undergraduate degrees through financial and programmatic support.

How does Carvana KEYS support team members?

The program collaborates with InStride to minimize financial and logistical barriers, offering assistance for employees to complete their college education.

What opportunities does Carvana KEYS provide for non-college-ready employees?

Carvana KEYS offers an earned admission program for employees who may not be college-ready, allowing them to begin their college journey.

When was Carvana KEYS announced?

Carvana KEYS was announced as part of a press release detailing the new employee initiative.