"This talent war has really brought on the need to think outside of the box and what type of benefits could be offered that would benefit them financially," said Jill Buban, vice president of Bright Horizons EdAssist Solutions.Leahannah Taylor
While programs like Abbott's, where 401 plan contributions are tied to employees' student loan debt payments, are the most widely offered employer benefit for student debt assistance, according to the EBRI survey, it's not the only option available. In the next year or two, a greater share of employers plan to offer student loan debt payment counseling or pay loan repayment subsidies, similar to tuition reimbursement.
"When I talk to peers, I tell them what New York Life is doing," Gibson said."They're like, 'Oh, my goodness, I wish my company did that, or they'd offer something like that. That's amazing.'"Take an employee with a $26,500 student loan balance. A $100 a month repayment benefit would help the borrower pay off that debt about three years earlier and save more than $10,000 in principal and interest over 10 years, according torate and 10-year term.
acorns Why would a child like get be in debt anyway? If you cannot afford to pay your university fees up front or your parents do not have a suitable fund or you aren't smart enough for a full scholarship then YOU CANT AFFORD IT.
acorns Bigger companies should have to give their employees stock options
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