Strayer University Partners with Best Buy to Expand Education Benefits to All U.S. Employees

Rhea-AI Summary

Best Buy has expanded its education benefits partnership with Strayer University, offering no-cost college degree options to all U.S. full-time and part-time employees through the Degrees@Work program. The benefit is available immediately upon employment and covers certificates, associate, bachelor's, and master's degrees in areas like business and information technology.

Employees will also have access to Sophia Learning, an online platform providing college-level general education courses that can be applied towards their Strayer University degree. This expansion builds upon a decade-long partnership between Best Buy and Strayer, previously offering tuition discounts and reduced fees. The program demonstrates Best Buy's commitment to employee development and creating an inclusive workplace while helping workers advance their careers through education.

Positive

• Full coverage of tuition costs for all U.S. employees (both full-time and part-time)
• Immediate eligibility from day one of employment
• Comprehensive education options including certificates through master's degrees
• Direct payment by Best Buy, eliminating out-of-pocket expenses for employees

Negative

• None.

Insights

Education Business Analyst

This expanded partnership with Best Buy marks a strategic evolution in STRA's corporate education business model, transitioning from a traditional tuition discount arrangement to a comprehensive, fully-funded education program. The immediate eligibility feature is particularly noteworthy as it eliminates the common waiting period seen in competitor programs, potentially accelerating enrollment growth.

The partnership's financial implications are significant. Corporate partnerships typically generate more predictable revenue streams compared to individual enrollment, as they often involve guaranteed minimum student numbers and longer-term contracts. With Best Buy's extensive U.S. workforce, this could materially impact STRA's enrollment figures and revenue stability. The inclusion of Sophia Learning's online courses creates an additional revenue stream while serving as a pipeline for full degree programs.

This deal positions STRA competitively in the growing corporate education market, where rivals like Guild Education have been gaining ground. The comprehensive nature of the program - covering certificates through master's degrees - allows STRA to capture a wider range of educational needs, potentially increasing student retention and lifetime value. The timing is strategic, coinciding with a tight labor market where retailers are competing aggressively for talent retention.

The partnership's structure suggests a shift in STRA's business development approach, focusing on deeper, more comprehensive relationships with major employers rather than broader, shallower partnerships. This could lead to improved margins as administrative costs per student typically decrease with larger corporate accounts. The immediate eligibility feature also indicates Best Buy's confidence in the program's retention impact, as it represents a significant upfront investment in new employees.

Best Buy’s workforce is now immediately eligible for benefits through Degrees@Work, powered by Strayer University

WASHINGTON--(BUSINESS WIRE)-- Signaling its commitment to investing in the professional well-being of its workforce, consumer electronics retailer Best Buy today announced an expansion of its education benefits relationship with Strayer University, an institution of higher learning for working adult students. Best Buy’s expanded offering will provide no-debt, no-cost-to-the-employee pathways to college degree options for all full- and part-time Best Buy employees in the United States through Strayer’s Degrees@Work program. Employees will have immediate access on their first day of employment.

The Degrees@Work program offers eligible employees the opportunity to take coursework or earn a certificate, associate, bachelor’s or master’s degree from Strayer University. Best Buy employees will have the opportunity to select from programs in areas such as business and information technology and have programs paid for directly by Best Buy. Employees will also have access, through Strayer University, to Sophia Learning – an online, on-demand, self-paced learning platform providing college-level general education courses that are ACE-recommended for college credit. Sophia courses can be applied towards their Strayer University degree.

"Best Buy has always prioritized the growth and development of our employees, and this expanded agreement covering Strayer’s Degrees@Work program underscores that commitment while also complementing our existing lineup of education benefits," said Charlie Montreuil, Best Buy SVP of HR Rewards. "At Best Buy, we believe that fostering continuous learning not only enhances personal and professional growth but also contributes to an inclusive and thriving workplace where everyone can succeed."

As the largest consumer electronics specialty retailer in North America, Best Buy has been an industry leader in providing education benefit options to its workforce. For over a decade, the company has partnered with Strayer to provide their employees with tuition discounts and reduced fees.

“We are proud to enhance our partnership with Best Buy, providing their U.S. employees with the opportunity to earn a college degree through the Degrees@Work program,” said Strayer University President Dr. Toni Farmer-Thompson. “Tuition benefits are a critical tool to help workers advance in their career and employers stay competitive. This enhanced program may help more Best Buy employees grow their professional skills, while pursuing their educational goals.”

For more information on the Degrees@Work program offered at Strayer University, visit https://degreesatwork.strayer.edu/. Best Buy employees can learn more at http://www.strayer.edu/bestbuy.

Strayer University

Founded in 1892, Strayer University is an institution of higher learning for working adult students. It offers flexible and affordable undergraduate and graduate degree programs in business administration (including the Jack Welch Management Institute MBA), accounting, information technology, education, health services, public administration and criminal justice, as well as non-degree web and mobile application development courses through Hackbright Academy and Devmountain. Strayer University is an accredited institution and a member of the Middle States Commission on Higher Education (MSCHE), www.msche.org. Strayer University’s accreditation status is Accreditation Reaffirmed. MSCHE most recently reaffirmed Strayer University’s accreditation status in June 2017, with the next self-study evaluation scheduled for the 2025–2026 academic year. MSCHE is an institutional accrediting agency recognized by the U.S. Secretary of Education. For more information, visit http://www.strayer.edu.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250213631902/en/

Elaine Kincel

elaine.kincel@strategiced.com

202-557-4920

Source: Strayer University

FAQ

What education benefits does Best Buy offer through Strayer University (STRA)?

Best Buy offers full tuition coverage for certificates, associate, bachelor's, and master's degrees through Strayer University's Degrees@Work program, with no cost to employees and immediate eligibility upon employment.

Are part-time Best Buy employees eligible for Strayer University (STRA) education benefits?

Yes, all Best Buy employees in the United States, both full-time and part-time, are eligible for the no-cost education benefits through Strayer University.

What degree programs does Strayer University (STRA) offer to Best Buy employees?

Best Buy employees can pursue programs in business, information technology, and other fields, including access to Sophia Learning's general education courses that can be applied toward their degree.

When do Best Buy employees become eligible for Strayer University (STRA) benefits?

Employees become eligible for the education benefits immediately on their first day of employment at Best Buy.

How does Best Buy's Strayer University (STRA) tuition payment program work?

Best Buy pays tuition costs directly to Strayer University, ensuring employees incur no debt or out-of-pocket expenses for their education.