City University of New York joins ASU spin-off InStride in effort to tap into growing online degree market for companies that offer college tuition benefits to employees.
To attract and retain employees in a tight labor market, companies are ramping up tuition benefit programs for their workers. And a growing number of colleges and universities are seeking to partner with these employers to offer online degree programs to millions of potential students.
Many are working with intermediaries like Guild Education to tap into this market, which is fueled by as much an estimated $28 billion in annual corporate spending.
The City University of New York is the latest entrant, announcing earlier this month that it will partner with InStride, a relatively new arrival to the employer education benefit space. The company serves as a broker between universities and companies, helping to manage tuition benefit programs while offering employees online credentials and courses from ASU Online and a small network of other universities. InStride is compensated by its corporate partners.