Student loan debt is an ever-growing crisis, as is the competitive search for top employees. What if there were an employee benefit that could help solve both of these problems? Student loan repayment is a benefit that helps reduce employees' student loan debt and creating goodwill for your organization, which increases employee engagement and retention. It is also a great recruitment tool. Student loan repayment also shows that an organization cares about the financial well-being of its employees. It's a great way to help support employees where they are financially today, and where they want to be in the future.
- Understand the benefits of employer-provided student loan paydown programs.
- Alternative programs allowing employees to choose whether employer match goes toward student loan repayment, retirement plans or some to both.
- Know the budgetary impact of these plans on employers.