Student loan borrowers face increased financial pressure as government repayment measures resume. Many employers are responding to this crisis by offering student loan assistance benefits. The percentage of employers providing such benefits has significantly increased, and job listings featuring loan assistance have also seen a rise. Strategies for supporting employees include loan repayment integration into retirement plans and allowing the exchange of unused paid time off for loan contributions. Addressing student debt has become crucial for enhancing employee stability and overall workplace health.
The number of employers offering student loan benefits more than tripled in the past five years, increasing from 4% in 2019 to 14% in 2024.
Employers can support staff managing student debt by integrating loan repayment support into retirement plans or allowing workers to exchange unused paid time off for loan payments.
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