Discover Offers Employees a Full-Ride Bachelor’s Degree Program

The new Discover College Commitment Program covers tuition, required
fees, books and supplies needed to complete select online degrees

RIVERWOODS, Ill.–(BUSINESS WIRE)–Discover announced a significant new education assistance benefit that
provides all eligible U.S.-based employees the opportunity to earn a
bachelor’s degree online from an accredited public or non-profit private
university at no cost.

Known as The Discover College Commitment, the benefit covers tuition and
required fees, books and supplies needed to complete select online
degrees at one of three schools – the University of Florida (via UF
Online), Wilmington University and Brandman University. The benefit has
no tenure requirement so employees can start participating as soon as
they want regardless of how long they have been with the company,
including new employees on their first day.

“Investing in our employees and their futures will not only make us a
stronger company, but have a lasting positive impact on those who might
otherwise never get the chance to attend college,” said Jon Kaplan, vice
president of training and development at Discover. “We will continue to
cultivate an environment that encourages employees to have the
professional development they seek because the company values their
skills and contributions.”

Discover launched the program through the Guild Education platform. As
part of the benefit for Discover employees, Guild provides academic
counseling, to help employees find the program that best fits their
educational and professional development.

“Discover’s new bachelor’s degree program is creating a life-changing
opportunity for its employees across the U.S. to earn a college degree –
at no cost – while continuing their careers,” said Guild Education CEO
Rachel Carlson. “Discover’s meaningful investment in employees is
incredibly rare and generous. We hope Discover’s bachelor’s degree
program will lead the way for other financial services companies to
follow suit, offering affordable and accessible higher education options
for working adults.”

Nearly 90 percent of the Discover employees without a post-secondary
degree work in the company’s customer care centers, all of which are
located in the U.S.

“Unlike a number of other large companies with degree-focused
education-assistance programs, The Discover College Commitment Program
combines full-ride funding toward the cost of a select bachelor’s degree
with no limit on the amount of assistance an employee can receive, and
our employees are eligible for this benefit on day one of employment.
Working with select quality schools that yield positive results will
also help our employees improve their chances of achieving a brighter
financial future,” Kaplan added.

Additional educational and training benefits that Discover provides its
employees include:

  • Education Assistance Program provides eligible employees tuition
    reimbursement for a qualified Associate’s, Bachelor’s, or graduate
    degrees from accredited colleges outside of the Discover College
    Commitment program.
  • The Discover Leadership Education Advancement Program (LEAP) provides
    select employees the opportunity to earn a bachelor’s degree while
    focusing on leadership development through academic coursework.
  • The Discover on-site MBA program from Lake Forest Graduate School of
    Management provides select employees a degree that helps strengthen
    key leadership and business management skills.
  • Discover’s internal professional development program offers hundreds
    of courses on everything from communication and decision-making to
    agile software development.

For more information about the Discover College Commitment program,
including eligibility requirements, please visit www.mydiscoverbenefits.com/keyword/education-assistance.

About Discover

Discover Financial Services (NYSE: DFS) is a direct banking and payment
services company with one of the most recognized brands in U.S.
financial services. Since its inception in 1986, the company has become
one of the largest card issuers in the United States. The company issues
the Discover card, America’s cash rewards pioneer, and offers private
student loans, personal loans, home equity loans, checking and savings
accounts and certificates of deposit through its direct banking
business. It operates the Discover Global Network comprised of Discover
Network, with millions of merchant and cash access locations; PULSE, one
of the nation’s leading ATM/debit networks; and Diners Club
International, a global payments network with acceptance in 190
countries and territories. For more information, visit www.discover.com/company.

Contacts

Discover Financial Services
Susan J. Villalobos
224-405-5344
susanvillalobos@discover.com
@Discover_News