Ways Employers Can Deal With Employee Student Loan Debt
February 25th, 2020
Student debt has increased dramatically in recent years, creating a financial burden on employees’ ability to save for retirement. Many employers have begun implementing programs to help employees manage student loan debt.
Millennials (and their families) are often burdened with significant student loan debt. More than 70 million millennials make up 50% of today’s workforce, and that number is growing. Also, many older workers in the “sandwich generation” are saving for their children’s college. Both of these scenarios provide opportunities for employers to design programs that help employees reduce their financial stress (which often affects productivity), as well as make the company more attractive to talented candidates.
To review your options, feel free to contact Innovative Benefit Planning. We have extensive experience
guiding clients through these decisions, and would be more than happy to help.
