Fidelity Investments: Supporting Employee College Dreams?

Fidelity Investments is a company that offers a wide range of benefits to its employees, including free college education. In 2022, the company announced that it would provide fully funded undergraduate degrees to many of its entry-level employees, covering tuition, books, fees, and taxes. This benefit is available to customer service phone representatives and is designed to attract and retain talent, improve employee retention and mobility within the organization, and enhance performance. Additionally, Fidelity offers internships and full-time positions to students, providing them with valuable experience and the opportunity to develop their skills and connections. The company also assists its employees with student loan repayment and offers other benefits such as emotional well-being resources, caregiving support, and enhanced paid parental leave.

Fidelity offers fully-funded undergraduate degrees to many of its entry-level employees

Fidelity Investments is offering fully-funded undergraduate degrees to many of its entry-level employees. This is part of the company's commitment to providing access to education and long-term financial wellness for its employees. The program will cover tuition, books, fees, and taxes for select four- and two-year programs, making it a truly debt-free education opportunity.

The initiative is designed for early-career customer service representatives and is available to those working in the company's regional centers across the country, particularly in Westlake, TX, Merrimack, NH, and Covington, KY. Fidelity's head of benefits, Megan Bourque, stated that this new benefit will create growth opportunities for associates and increase accessibility to higher education.

Fidelity has also expanded its education benefits beyond this program. They offer access to more than 175 programs at over 30 schools with no upfront tuition costs, as well as one-on-one personalized support, career guidance, and other benefits. This includes their student debt relief benefit, where they have eliminated $67 million in principal and $31 million in interest payments for associates since the program's launch in 2016.

Fidelity's decision to offer fully-funded undergraduate degrees aligns with their mission to positively impact the lives of their employees and make a difference in their communities. This initiative also helps attract talent and retain workers, as free college programs have become an increasingly popular benefit offered by companies.

The company covers tuition, books, fees, and taxes

Fidelity Investments has shown its commitment to providing access to education and long-term financial wellness by offering fully funded undergraduate degrees to many of its employees. The company covers tuition, books, fees, and taxes, providing a debt-free education for select four- and two-year programs. This benefit is available to entry-level customer service phone representatives working in the company's regional centers across the country, particularly in Westlake, TX, Merrimack, NH, and Covington, KY.

Fidelity's program is designed to create growth opportunities for its associates and increase accessibility to higher education. The company has a long-standing focus on higher education, as evidenced by its student debt relief benefit program. By offering to pay the cost directly to the school, Fidelity eliminates the need for reimbursements. The degree programs are tailored to working adults and are offered in a range of majors that align with the financial services industry. Associates also receive free coaching to help them navigate their academic and professional journey.

Fidelity's initiative is part of a broader trend among employers who are enhancing their benefit offerings to attract and retain talented workers. By investing in the next generation of financial services talent, Fidelity is not only fostering the success of its associates but also ensuring the long-term success of its customers. This approach aligns with the company's commitment to positively impacting the lives of its employees and customers while making a meaningful difference in the communities it serves.

Fidelity's decision to cover tuition, books, fees, and taxes demonstrates its understanding of the financial challenges associated with pursuing higher education. By removing these financial barriers, the company empowers its employees to pursue their academic goals without incurring debt, setting them up for long-term success in their careers and beyond.

Fidelity offers internships and co-ops to students

Fidelity Investments is committed to providing access to education and long-term financial wellness for its employees. The company offers a range of opportunities for students, including internships, co-ops, and full-time positions.

The Fidelity Intern Program is a 10-week summer internship that offers college students the opportunity to experience the company's business and culture, with the potential to land a full-time role. Internships are available in eight key skill areas, including actuarial science, quantitative finance, corporate services support, client-focused roles, human resources, data analytics, legal, risk, compliance, and audit, and technology. These internships provide valuable experience and often lead to full-time positions after graduation.

Fidelity also offers co-ops, which are paid full-time positions for a defined period, usually four or six months. Students typically earn course credit for participating in co-ops. Both internships and co-ops are paid positions, and Fidelity accepts applications for these programs from mid-September through mid-October.

In addition to internships and co-ops, Fidelity offers entry-level opportunities for those looking to jump-start their careers. The company values empowering its employees to develop skills and connections that propel them forward. Even without a financial background, individuals can leverage their communication skills and passion for helping others in customer service and sales roles. Fidelity provides extensive training and support to ensure the success of its employees.

The company provides student loan assistance

Fidelity Investments offers a range of benefits to support its employees' educational goals, including student loan assistance.

In addition to its student loan assistance program, Fidelity Investments also offers fully funded undergraduate degrees to many of its entry-level employees. This program covers tuition, books, fees, and taxes for select two- and four-year programs. The company also provides access to more than 175 programs at over 30 schools with no upfront tuition costs, as well as one-on-one personalized support and career guidance.

Fidelity Investments understands the importance of education and is committed to providing access to educational opportunities for its employees. The company's benefits are designed to improve the long-term success of its associates and enhance their financial wellness.

The company's commitment to its employees' education is further demonstrated by its recruitment of both undergraduate and graduate students for internships, co-ops, and full-time programs. These opportunities allow students to gain valuable experience and develop skills that can propel them forward in their careers.

Fidelity Investments also prioritizes work-life balance and offers a range of benefits to support the well-being of its employees, including on-site health and wellness centers. The company's supportive culture and comprehensive benefits package make it a great place to work and develop one's career.

Fidelity offers 529 plans, which are flexible, tax-advantaged accounts designed for education savings

Fidelity Investments is committed to providing access to education and long-term financial wellness for its employees. In October 2022, the company announced that it would offer fully-funded undergraduate degrees to many of its entry-level employees, providing access to education for early-career customer service representatives. This benefit covers tuition, books, fees, and taxes, and is available to employees working in the company's regional centres across the country, particularly in Westlake, TX, Merrimack, NH, and Covington, KY.

Fidelity also offers 529 plans, which are flexible, tax-advantaged accounts designed for education savings. These plans can be used to cover a wide range of education expenses, including college expenses at postsecondary schools, tuition for K-12 schools, apprenticeship costs, and student loan repayments. Earnings in a 529 plan grow tax-deferred, and withdrawals for qualified education expenses are free from federal income tax. Additionally, there are no annual account fees or minimums required to open a Fidelity-managed 529 account.

Fidelity's 529 plans have received a best-in-class rating from Morningstar®, and the company provides resources such as webinars and a college savings calculator to help individuals maximize their education savings strategies. The plans offer investment options, including age-based portfolios that automatically adjust as the beneficiary gets older. When choosing a 529 plan, it is important to consider factors such as in-state tax benefits, plan management, investment options, fees, and performance.

Fidelity's commitment to education is evident not only through its employee benefits but also through its 529 plans, which provide flexible and tax-advantaged options for individuals and families saving for education.

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