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Providing student loan assistance has rapidly gained traction as an employee benefit because it’s often a win-win for employers and employees.
The benefit allows employers to make contributions directly to employees' 529 accounts.
Employers should consider adding student loan benefits, if they want to attract potential hires.
Employees are more likely to remain with their current employer if they offer a student loan benefit.
There is both a social and economic benefit for employers as well as their employees when they adopt a student loan assistance benefit.
In an industry where turnover is close to 100%, one employer is retaining workers by offering a popular benefit.
The higher education benefit is increasing the company’s retention and advancement rates.
As the coronavirus keeps employees from taking vacation, that unused time off can be converted into direct payments on their student loans.
TIAA is offering technology firm Savi’s solution to client institutions to help them expand financial wellness benefits.
For a veterinarian, the emotional aspects and financial strain of their profession can have a lasting impact on their mental health.
“This student loan repayment benefit has the potential to mobilize American businesses both large and small to dramatically reduce the overall amount of student debt,” says Tuition.io CEO Scott Thompson.
The exterminator service provider’s parent company has launched a debt repayment benefit program.
CommonBond is ensuring employees can qualify for employer retirement contributions while they pay off their student loans.
“The financial burden of student loans is a major reason fewer employees are taking advantage of 401(k) programs,” Scott Thompson, CEO of Tuition.io, says.
The majority of millennials say they are feeling anxious or stressed about their personal finances, a new study finds.
Today’s young adults are the first downwardly mobile generation in American history and face a slower growing economy while saddled with unbearable amounts of student debt.
GumGum employees are on track to pay off their student loans 27% faster than without the benefit.
“The advice I give is to calculate the financial impact for each option,” an expert says.
Offering student loan management resources provides employees with access to experts who can help them navigate a complicated landscape.
The definition of employee wellness is expanding to include student loan debt relief, EAPs and retirement benefits, experts say.
