Lyft Offers Drivers Tuition Discounts Through Guild Education
Could this perk attract drivers away from rival Uber?
Ride-sharing companies are quick to note that most of their drivers are part-timers looking for supplementary income, or a short-term job while they look for something more permanent. Lyft is trying to help its drivers take another leap forward.
Lyft will provide drivers with college advising and tuition discounts through Guild Education. The discounts, which only apply to colleges and universities affiliated with Guild Education, range between five and 20 percent. Lyft predicts the average driver will save $4,220 a year while earning a degree.
The program is an acknowledgment that many Lyft drivers don't view driving as a long-term job. According to the company, 93 percent of drivers spend less than 20 hours a week on the road. In a press release, Lyft President John Zimmer said continuing education is a part of many drivers' long-term goals.
The tuition discounts apply to more than 80 nonprofit online educational institutions associated with Guild Education. They can be used for GEDs, Bachelor's and Master's degrees and certificates in specialties like data science and HTML, among other things.
Lyft rival Uber has offered its own education incentives, such a scholarship program created in partnership with South Seattle College. But Lyft is doing it on a larger scale, and that could help it attract more drivers as it looks to erode Uber's advantage in the ride-sharing market.
- RELATEDLyft Finally Launches Its Boston Self-Driving Car Pilot ProgramAnnounced earlier this year, the pilot is run in concert with NuTonomy.READ NOW
- RELATEDBig Uber Shareholder Invests in LyftFidelity Investments participates in latest funding round for upstart ride-hailing service.READ NOW
- RELATEDLyft Approved to Test Self-Driving Cars on Public Roads in CaliforniaWatch out, Uber.READ NOW
- RELATEDLyft Launches in Toronto, Making Its First Foray Outside of the U.S.Lyft has finally gone international.READ NOW
- RELATEDCab Companies on Uber and Lyft: If You Can't Beat 'Em, Join 'EmAfter fighting against Uber and Lyft, traditional taxi operators are increasingly adding ride-hailing services of their own.READ NOW