A recent study conducted by the Employee Benefit Research Institute found that nearly one-third of employers offer or are planning to offer a student loan debt repayment program.
Plan Advisor further reports that employee retention and reducing employee stress were the reason for this new focus for employers.
As stated by EBRI:
“in a competitive job market, student loan debt help is becoming an important tool for employers eager to attract and retain workers. Policymakers are recognizing the need for such help, as well”.
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The information included in this blog post originally appeared in an article from Plan Advisor on April 25, 2019, written by Lee Barney.