Walmart partners with Khan Academy in educational effort
Walmart aims to help employees and customers improve their financial literacy.
The discount giant is teaming up with non-profit educational organization Khan Academy to offer a new, free financial literacy course for its associates, as well as for customers and members of communities where stores are located.
The virtual course offers articles, videos and exercises designed to help students master personal finance skills. Using a learn-at-your-own-pace, classroom-style approach, the courseload includes topics such as budgeting and saving, consumer credit, financial goals, loans and debt, insurance, investments and retirement, scams and fraud, careers and education, and taxes.
“Knowledge is power, and to be financially literate means having more confidence in the decisions you make when managing your money to help achieve your short term and long-term goals.,” Kim Lupo, senior VP, Global Total Rewards, Walmart, said in a corporate blog post. “We know from listening to our associates and customers that financial well-being is an important component to their total well-being. Our partnership with Khan Academy is an example of one of the many commitments we’re making to invest in financial tools to help people live better. We believe offering these unique financial offerings will empower people to live their best lives – in and out of the workplace.”
“At Khan Academy, our mission is to provide a free, world‑class education for anyone, anywhere,” said Sal Khan, CEO of Khan Academy. "We’re pleased to partner with our founding sponsor Walmart to offer financial literacy for all, enabling its associates – and learners everywhere – the opportunity to achieve greater financial success for themselves and their families."
Walmart associates can take the course via a dedicated section of the employee site. Community members can take it free at the Khan Academy site.
Walmart offers employee education program
Launched in 2018 in partnership with education benefits management company Guild and steadily expanded in the years since, Live Better U is designed to provide the 1.5 million Walmart and Sam’s Club associates in the U.S. free access to educational and career-building resources, such as 100% payment of college tuition and books starting on the first day of full-time or part-time employment.
According to Walmart, in the past five years, the company has saved associates nearly $500 million in tuition costs, more than 104,000 Walmart and Sam’s Club associates have participated in Live Better U in the U.S. The company says that when it removed the initial $1 a day fee for associates in 2021, it saw a 66% increase in enrollment year-over-year.
Live Better U offerings now include more than 70 programs, including programs added to support growth in high-demand areas such as supply chain. In March 2023, Walmart launched a new collaboration with Springboard, a provider of online mentor- and instructor-led training programs, to offer tailored upskilling and reskilling courses in data analytics, software development, and data-driven strategic thinking.
Headquartered in Bentonville, Ark., Walmart Inc. operates more than 10,500 stores and numerous e-commerce websites under 46 banners in 24 countries.