Google is launching an initiative that it says will help more than 20,000 Americans with job training and placement through its $100 million Google Career Certificates Fund.
Google CEO Sundar Pichai and U.S. Secretary of Commerce Gina Raimondo announced Thursday the launch of a $100 million Google Career Certificates Fund, which aims to drive $1 billion in aggregate wage gains.
Google says the program will "equip people with job-ready skills in fields like Data Analytics, IT Support, Project Management, and UX Design with 3-6 months — with no degree or experience required."
"We are excited to support Social Finance to help expand economic opportunity for more Americans with our new $100 million Google Career Certificates Fund," Pichai said.
Social Finance is national impact finance and advisory nonprofit working with the public, private, and social sectors to create partnerships and investments "that measurably improve lives," the organization said.
"This innovative funding model brings together digital skills training and support services to connect more Americans to high-growth, high-paying jobs," Pichai said Thursday. "We hope it will be transformative for people, their families, and their communities."
Meanwhile, Raimondo said that the Biden administration is "laser-focused on creating good-paying jobs for American workers, and it is especially important for us to come up with creative solutions that enable women and parents to fully participate in our economy."
"Top business leaders understand that investments like child care are fundamentally investments that enable people to work," Raimondo explained. "That’s good for workers, it’s good for the economy and it’s good for business."
She added: "I look forward to continue working with Google and its partners behind this innovative program to help families get ahead."
Google said the initiative uses a "student-friendly" financing model, and said there are "no upfront costs" for learners to participate, but only repay program costs via no-interest, low monthly payments "if they secure a job making at least $40,000 annually."
"Social Finance will reinvest repayments back into the program for several years to enable more learners to benefit," Google said, adding that they aim "to catalyze and encourage others in the industry to make training more affordable and accessible for Americans."
The Google Career Certificates were developed by Google employees to support training in high-demand fields. According to Google, the program can be completed in three to six months of part-time study, and more than 70,000 people have graduated from the program in the U.S. so far.