Election 2024

How Biden and Trump’s views on abortion and student loans will impact employers

By Alyssa Place, This is my expertise

Published April 9, 2024 11:24 AM EDT Updated April 9, 2024 11:32 AM EDT 3 Min Read

Exterior of the U.S. capitol building — Adobe Stock

As the November presidential election creeps closer to reality, President Joe Biden and former President Donald Trump are hitting the campaign trail. How will their plans and policies impact your workforce?

According to exclusive research by Arizent, the parent company of Employee Benefit News, 71% of survey respondents in a variety of professional services industries said they are very dissatisfied with the current political climate, while just 1% said they were very satisfied. When asked which political party would be most beneficial for their business, 40% said Republican, 33% said Democrat and 18% said there was no difference.

Read: 40% of student loan borrowers are missing payments. 3 ways employers can help

According to the Department of Education, nearly 40% of student loan borrowers are already behind on their payments after the end of COVID-era pauses. Today’s average monthly loan payment of $210 to $314 equates to a 4-5% pay cut for the typical worker, meaning many borrowers simply cannot afford to meet payments. To help employers find solutions, Aaron Smith, co-founder of Savi, a platform dedicated to helping borrowers manage their student loan balances, shares his tips to establish or improve a student loan benefit.

Alyssa Place

Editor-in-chief

Alyssa Place is the editor-in-chief of Employee Benefit News and has been with the team since 2019. Her work covers mental health, DEI, women at work, financial wellness, retirement and workplace … Read full bio

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