Papa John's offers free college tuition for employees

Papa John's is serving up the chance at a college education for its workers. The pizza chain is offering to pay all tuition for undergraduate and graduate online degree programs.

The offer is being given to Papa John's 20,000 or so employees. Papa John's is also offering reduced tuition for the 70,000 people who work in its franchises.

There is a catch. Classes must be taken at Purdue University Global, which offers several online degree programs. It's all part of a new initiative called "Dough and Degrees".

The news comes as Papa John's continues to deal with the fallout involving its founder, John Schnatter. He resigned as chairman last year after he allegedly used a racial slur during a conference call.

Last week, a private equity firm agreed to invest $200 million into Papa John's after the company rejected a counter-offer from Schnatter.