Lyft Partners with Guild Education and Becomes First Gig-Economy Company to Provide Access To Education Services to Contractors
DENVER, Dec. 11, 2017 /PRNewswire-iReach/ -- Guild Education, the leading education benefits company, and Lyft, the fastest growing rideshare company in the U.S., today announced a partnership that will offer Lyft drivers across the country the opportunity to further their education. This is a first-of-its-kind program designed specifically for the sharing economy.
"Education has never been more important for working adults than it is today. An increasing number of post-recession jobs require a college education, but at the same time, student loan debt has risen to $1.3 trillion. Our partnership with Lyft is an opportunity to provide so many working adults with the flexibility, access, and support that will help them advance their education." Co-founder and CEO of Guild Education, Rachel Carlson said. "At Guild, we're thrilled to be working with a global leader like Lyft who's deeply committed to their drivers. This partnership marks the start of a new era for the modern workforce."
Through Guild, drivers will have access to personalized college advising and tuition discounts for thousands of classes, certificates and degrees from more than 80 online non-profit universities and learning providers. Programs include Bachelor's and Master's degrees, certificates in subjects such as Data Science and HTML, and other skills such as GED, vocational courses, and English-as-a-second-language. Guild thoroughly vets every university in its network, ensuring students have a collection of trusted and legitimate education providers. Guild also provides every student with a personal education advisor to explore academic programs and financial aid options, as well as an ongoing coaching and support to help balance going to school as a working adult.
Lyft Co-Founder and President John Zimmer said, "Exceptional service from Lyft drivers is at the heart of millions of meaningful experiences across the country. We know that many Lyft drivers are working to achieve personal or professional goals, which often include continued education and learning. We're happy to offer this resource to help drivers succeed both on and off the platform."
The vast majority of Lyft drivers drive part-time and use Lyft as a flexible way to earn income while they work toward long-term goals. Over 93 percent drive fewer than 20 hours a week; 92 percent are employed, seeking employment, full-time students or retirees; and 96 percent say flexible hours are very or extremely important.
Since its founding, Lyft has focused on helping drivers succeed and achieve their goals. Lyft was the first company to offer in-app tipping, which has resulted in over $350 million in tips, and pioneered product features such as same-day payments, low-cost car rentals, and more. With today's announcement, Lyft is continuing its commitment to helping drivers achieve their goals both on and off the platform.
Along with access to classes and an education advisor, by enrolling through Guild, Lyft drivers will receive significant tuition discounts ranging from 5-20%. The average driver working with Guild to earn a degree can save up to $4,220 per year, for an average savings of $16,880 by the time they earn their degree. Students taking a range of classes and programs save 25-35 percent on average, supporting Lyft and Guild's shared goal that every student can graduate debt free.
Lyft drivers can learn more about the partnership and services available to them at http://www.guildeducation.com/lyft.
Lyft Driver Muhammed Cham was just a few credits short of getting his degree and considering how he could go back to school when he learned about the opportunity with Guild. "I applied for the program and right away my Guild coach called to talk about my goals and the courses I could take," Cham said. "As a Lyft driver, I meet people from all walks of life every day, including presidents and CEOs of companies. I learned there is a serious demand for cybersecurity experts, and, through working with my coach, that's how I chose a degree path to pursue. When I graduate, I want to put all of my new skills toward a career with Lyft because of this opportunity they've given me."
Guild works with several Fortune 1000 companies including Chipotle Mexican Grill, Discover Financial Services, DaVita Healthcare, and Taco Bell to serve the 64 million working adults who don't yet have a college degree. Lyft has over 700,000 drivers nationwide and its service is currently available to 95 percent of the U.S. population.
About Guild Education
Guild Education is transforming the way companies offer Education as a Benefit to their workers. Guild Education's technology makes offering education benefits and tuition reimbursement an easy choice for leading companies, with a platform that helps HR leaders turn their education cost centers into a positive ROI. The company's diverse network of online, nonprofit universities offers a range of programs from GEDs through bachelor's and master's degrees, along with advising and retention coaching to help each student navigate the worlds of work and college. In 2016, Guild Education was one of only a small number of women-led companies to receive a share of total venture capital funding when they raised their Series A round. As of today, Guild Education has raised a total of $31.5 million in funding from Bessemer Ventures, Redpoint Ventures, Harrison Metal, and Cowboy Ventures. To learn more about Guild Education, visit http://www.GuildEducation.com.
About Lyft
Lyft was founded in June 2012 by Logan Green and John Zimmer to improve people's lives with the world's best transportation. Lyft is the fastest growing rideshare company in the U.S. and is available to 95 percent of the US population. Lyft is preferred by drivers and passengers for its safe and friendly experience, and its commitment to effecting positive change for the future of our cities.
Media Contact: Lauren O'Mahony, Guild Education, 415.215.8924, [email protected]
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