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Fiat Chrysler offers free college ride for dealership employees, families

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Fiat Chrysler offers free college ride for dealership employees, families

Employees of Fiat Chrysler dealerships and their families will now be able to earn a college degree free of cost, FCA US L.L.C. announced Monday.

The Auburn Hills, Michigan-based automaker is expanding its Degrees@Work program nationally and extending it to employees' family members to attract the best workers, improve its employees' skill sets, and alleviate the cost burden that comes with paying for college, the company said in a statement.

Through the program, employees and family members of participating dealerships can earn associate, bachelor's and master's degrees online or on campus at Strayer University at no cost or debt.

The FCA US dealerships, which are franchises, can choose to offer the voluntary program to employees and family members for a monthly fee, a company spokesman said.

Courses include business administration, accounting, education, information systems, and others, according to the statement.

“Families are often faced with tough choices about how to pay for college,” Al Gardner, head of dealer network development with FCA US, said in the statement. “Expanding this benefit to employees' immediate family members positions our dealer network as the 'employers of choice.' ”

The automaker initially rolled the benefit out to 100 dealerships in the Southeast in May.

As growing student loan debt becomes a greater issue for college graduates and keeps them from saving for retirement, many employers are stepping in to offer solutions.

Outstanding student loans currently total more than $1.2 trillion. And about 70% of 2014 college graduates had student loan debt, with an average of $28,950 per borrower, according to the nonprofit Institute for College Access and Success.

“Dealers tell us that education is a benefit frequently requested by their employees,” Mr. Gardner said in a separate statement in May announcing the launch of the benefit. “With the increasing cost of a college education, offering free college degrees without the burden of debt presents a significant value that we are pleased to provide and that differentiates us from our competitors. It will certainly help us attract and retain strong talent.”

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