NEW YORK -- Macy's has announced it is raising its minimum wage and will start offering to pay for college for its employees.

Beginning in February, Macy's will provide a debt-free education benefit program to its workers, investing about $25 million over the next four years.

It will cover 100 percent of tuition, books and fees for schooling including courses of completion of high school, college prep, English language learning, associate and bachelor's degrees, and more.

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Macy's is also raising the minimum wage to $15 an hour. They've already hit that mark in several markets with the target nationally set for May.

All Macy's corporate and hourly employees will also be getting one additional flexible paid holiday.

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