Walmart is famous for its low prices. Now it’s offering a college diploma to employees at a serious discount.

The mega retailer, which employs more Americans than any other company, announced Wednesday that it is teaming up with several colleges to offer subsidized degrees to employees all over the country.

Included in the list of universities is the University of Florida Online, which will offer business degrees through the program, UF said in a Wednesday release.

"This partnership is a wonderful example of how a public research institution can apply 21st century teaching technologies to enable these employees to pursue a valuable degree while remaining in the workforce," UF provost Joe Glover said. "Everyone wins."

Walmart will pay the lion’s share of an employee’s tuition, books and other costs, and enrollees will pay a fee that amounts to about $1 per day, UF said.

Employees will be held to the same admissions standards as other students. Although some universities are offering college credit for Walmart Acadamies — the company’s in-house training — UF is not among them.

The deal is not exclusive to Florida. Walmart will also subsidize the degrees of employees enrolled at Brandman University in Irvine, Calif., and Bellevue University in Bellevue, Neb.

"Working with three universities that include both competitive and open-access programs, Walmart provides all associates a place to start," UF said in its release. "The goal is for all associates who apply for admission to be accepted."

Information from Times wires was used in this report.