Starbucks Gives Employees Free College Education NARRATOR: Abe Cervantes is just four classes shy of getting his associate's degree, but his college studies have stalled. ABE CERVANTES: Just going to school is already hard, let alone paying for it. ABE CERVANTES: Thanks, Ray. RAY: Have a good day. ABE CERVANTES: Good to see you, man. NARRATOR: Being a barista is one of three jobs the 24-year-old works to support his mom and brothers in San Pedro, California. ABE CERVANTES: I’m basically putting everything I have that I can give into the home. HOWARD SCHULTZ: This is a monumental historic moment in time for our company. NARRATOR: Howard Schultz is CEO of Starbucks. HOWARD SCHULTZ:I think business leaders and companies need to step up and do more for their people and more for the communities they serve. NARRATOR: Other companies, including UPS, Apple, and Exxon Mobile, offer limited tuition assistance. Starbucks will pay employees full tuition if they work 20 hours a week, have at least two years' worth of college credit, and get accepted into the online degree program at Arizona State University. Schultz expects it to cost the public company millions of dollars. INTERVIEWER: Is this a fiscally responsible use of company resources? HOWARD SCHULTZ: I think we've been able to demonstrate we can build value for the shareholder-- but only, I believe, by bringing our people along. And I think you've got to be able to demonstrate success is best when it's shared. NARRATOR: Cervantes now plans to finish his studies in music education and become a teacher. ABE CERVANTES: It's huge. I can't even explain what it's going to do for my life.