Student Loan Repayment Assistance: A Perk for the New Generation of Workers
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Burr, Matthew W.
[Excerpt] As the cost of college education continues to rise and more graduates are entering the workforce with excessive amounts of student loan debt, employer repayment assistance is becoming a new trend in the organizational perks industry. The rise in popularity as a new perk has been slow, but is quickly taking hold as a benefit of note for this new generation. While “only 3 percent of more than 450 surveyed companies offer student loan repayments programs as part of their benefit plans, according to the Society of Human Resource Management 2015 Employee Benefit Surveyi,” we will continue to see a growing demand for the new perk.
HR Review; student loan repayment; debt assistance; millennials; retainment; recruitment
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