The program is a partnership between Walmart and Guild Education that will subsidize the cost of higher education for Walmart and Sam's Club employees.

The company says employees interested in the program are required to contribute just $1 per day while Walmart vows to pay for tuition, books, and other fees.

"That also means there's no need for a student loan—wiping out the thousands of dollars of debt associated with other degree options. What's even better: Associates can earn college credit for paid training at Walmart Academies, saving them substantial time and money," the company said on its website.

Carl Beckam, a store planning project manager in Michigan, says the new program will allow him to go back to school.

"I'd tried to go back about a year ago, but the program I was following just wasn't easy for someone working full time," Carl said. "With this new program, the beginning process was pretty straightforward. My adviser has helped me every step of the way, so I knew what I needed to do and how to do it. I felt very supported."

Walmart estimates that approximately 68,000 individuals could sign up for the program.

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