Not many employers on board yet, but if the competition for talent heats up, you may see this as a growing benefit. Too bad low interest loans can’t be a 401k investment fund. 🤓
Student loan assistance. Student loans are a major stressor for workers, especially millennials. A small but growing number of employers now offer student loan assistance. According to a 2017 survey by Society for Human Resource Management, 4 percent of SHRM members offer this perk. Oldham expects those numbers to continue to grow in 2018.
Student loan programs come in a few different flavors. Some employers provide money toward employees’ student loans, while others don’t contribute to loan payments but provide access to third parties that might offer a lower interest rate on a refinanced student loan.