According to the 2018 Employee Benefits Report, very few companies offer employer-sponsored student loan repayment benefits. Borrowers who get an employer’s student loan repayment privilege can make extra payments, and therefore be able to pay off their debt faster and with less interest.
Here are some of the companies that can help you pay off your student loans:
This is a leading financial services company that offers up to $2,000 per year towards repayment of student loans of their employees at the manager level and below. The program called ‘Step Ahead Student Loan Assistance‘ also provides employees with online tools that help them learn how to manage their student loan debts.
About 25% of the company’s employees have student loan debts.
With an aim to enable its employees to get their career off to a financially healthy start, PriceWaterHouseCoopers offers $1,200 towards employees’ student loan repayments with up to $10,000 subsidies.
This book publishing company offers student loan repayment assistance by paying $1,200 per annum. These benefits apply to any full-time employee who has worked at the company for at least one year.
This healthcare company doesn’t only help its employees repay their student loans, but also enable them to save for retirement in a unique way. Abbot provides a 5% match to every employee who contributes 2% of their paycheck to student loan repayment.
Nvidia is a technology company that offers its full-time and part-time employees up to $6000 per year in student loan repayment benefits. To be eligible for these benefits, employees must have worked at the company for at least three months and have graduated in the last three years.
This company matches $100 of student loan payments per month for employees with a maximum of $6,000 in repayment.
20% of employees in this company are a part of its student loan repayment plan. The company’s main aim was to create a benefits program that matched its employee base. If you’re skilled as an Application Developer, Account Administrator, or a Communication specialist, then you should send your resume to this company.
CommonBond is a marketplace lender that refinances student loans. This explains why its employees receive the best loan repayment plans. The company gives $100 monthly to employees’ loan payments with no limits at all. This means that contributions continue until the debts are fully paid.
This healthcare company offers $2,000 to both full-time and part-time employees for student loan payments. To be eligible for these benefits, employees must have earned a graduate or undergraduate degree within three years of applying for the program.
This asset management company offers $1,000 worth of annual benefits, up to $83.33 monthly to its employees, for a lifetime maximum of $10,000 over ten years.
However, there are other ways to tackle student loans in case your company doesn’t offer student loan repayment assistance. An example is through student loan refinancing, which lowers your interest rate and helps you pay off your student loans faster. This link, http://www.elfi.com, will provide you with all the required information on how to refinance your student loans.