In Focus: Student Loan Assistance

By Stephen Miller, CEBS Sep 25, 2015
PwC to Help Employees Pay Back Student Debt

Starting next July, associates at consultancy Pricewaterhouse Coopers (PwC) will become eligible to receive as much as $1,200 a year for up to six years toward their student loans. The benefit will be paid directly to the loan servicer of certified student loans, although it will still count as income for employees.

(Washington Post)

The Most Important Employee Benefit Since 401(k)s?

Student loan assistance isn’t just the latest twist in corporate perks like unlimited vacation and free food to attract top-notch employees. The issue has become a major focus on the U.S. presidential campaign trail, and the Society of Human Resource Management this year noted student loan repayment as a growing employee benefit.

(Government Executive)

Student Debt Impedes Participation in Retirement Plans

In a recent survey, nearly 80 percent of workers with student loan debt said they would like to work for a company that offers repayment assistance, such as by matching employee contributions on student loans; 49 percent of student loan holders said they would prefer student loan payment contributions over a 401(k) plan at this point in time.

(SHRM Online)

Loan Assistance Can Attract ‘Reality-Driven’ Millennials

Almost 7 in 10 college grads owe money, with an average debt of $28,400 for the Class of 2013, according to the Institute for College Access and Success. Companies offering loan repayment assistance are contributing $50 to $200 a month to help employees pay down student debt, according to Brendon McQueen, chief executive officer of employee student loan management firm Flex395.

(Reuters via Streetinsider.com)

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