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If you have student loan debt, you may be able to get help paying it off through your employer – or find one that does.
More than 44 million Americans are burdened with student debt, due to a collective $ 1.7 trillion.
Now that the âbig resignationâ is gaining momentum and workers are looking for new jobs, employers are trying to find ways to attract and retain talent. One of the advantages is working remotely and offering help with these loans. (See a list below of companies with these benefits that are hiring now.)
Federal student loan payments, most of which were suspended during the pandemic, are expected to resume in January.
âIt’s important for employers to meet employees where they are and find benefits that will benefit them and add value to them,â said Toni Frana, Destin, Fla. Based career coach at FlexJobs .
Currently, 17% of employers offer student loan assistance and 31% plan to offer it, according to the 2021 Employer Financial Well-Being Survey from the Employee Benefit Research Institute.
About 70% of employers said employee engagement in the benefit has increased since 2020.
Meanwhile, many Americans want to continue working remotely instead of returning to the office. A Prudential investigation this spring, 87% of those polled want to be able to continue working from home.
Here are eight companies that help employees pay off student loan debts and also offer work-from-home positions, according to Flexible jobs. Average annual base salary courtesy of Payscale, unless otherwise stated in the job posting.
Employees at this Abbott Park, Illinois-based healthcare research firm can divert the 2% minimum contribution they would normally have to make to their 401 (k) plans to get the 5% match in order to repay their student loans. The employee still receives the 5% contribution in his 401 (k).
CommonBond, an online lender based in St. Paul, Minnesota that provides student loans and student loan refinances, provides up to $ 100 per month for student loans, with no lifetime limit, for its employees.
The Boston-based financial services company offers eligible employees a maximum of $ 2,000 per year and a lifetime maximum of $ 10,000 for student loans.
New York Life pays $ 170 per month, over five years, to student loans in good standing. Employees can reduce their debt by up to $ 10,200 when enrolled.
Parallon, headquartered in Nashville, Tennessee, is a division of HCA Healthcare, which provides $ 100 per month for student loans for eligible full-time employees and $ 50 per month for part-time workers. Undisclosed lifetime maximums apply.