Attract & Retain Top Talent
Drastically improve your competitive advantage with this highly sought-after benefit
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With costs for hiring new employees at an all-time high, finding a low-cost solution to retain those employees - especially top performers - is critical. Offering student loan contributions as an employee benefit is a growing perk with many advantages:
Tax-free contributions: The CARES Act allows employers to annually contribute up to $5,250 toward employees' student loan payments.
Stay ahead of the competition: 8% of companies offer this benefit in 2020, but over one-third will by 2024
Highly-valued by employees: Many rank it higher than 401k contribution or health insurance
Improve ROI: Cut recruiting costs as employee tenure increases dramatically for participants
By The Numbers
See how the student loan debt crisis is impacting the workforce
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$1.56B
Total U.S. Student Loan Debt
Student loan debt is now the 2nd highest consumer debt category - behind only mortgage debt - higher than both credit cards and auto loans. 1
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44.7M
Impacted U.S. Borrowers
There are 23.2 million student loan borrowers under the age of 34, representing more than half of all borrowers. 2
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$32,731
Average Student Loan Debt
With an average monthly payment of $393, nearly 65% say they may seek a second job to help pay off their loans. 3
How It Works
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Highly-configurable platform automates your unique rules for eligibility, repayment maximums, etc.
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Works in conjunction with or separately from your tuition reimbursement program
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Employees link their student loan accounts directly to service providers
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Automated payments direct to student loan servicers
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