Walmart and other companies are working with colleges to give credit for skills learned on the job, allowing employees to earn degrees without traditional education paths. This new approach aims to make education more accessible and affordable for workers, while also benefiting employers by retaining talent and saving on recruitment costs.
Key Points
Companies like Walmart and McDonald's are collaborating with colleges to convert work skills into college credit
This approach aims to expand access to education, reduce student debt, and create more skilled workforce
Some colleges already offer credit for prior learning, like AP classes or military experience
Pros
Makes education more accessible and affordable for workers
Benefits employers by retaining talent and saving on recruitment costs
Cons
Challenges in mapping on-the-job skills to college credit
Limited awareness and bureaucratic hurdles for employees