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Student Loan Assistance or 401k? It Depends...
Student loan chart.JPG
  • Around 70 percent of college graduates are in debt today. The average person leaves school $30,000 in arrears, and many owe more than $100,000.
  • Hundreds of companies are now offering student loan assistance to their workers.
  • "It's as meaningful to recent graduates as 401(k)s," said Meera Oliva, chief marketing officer at Gradifi, a Boston-based firm that designs student loan repayment programs for companies.

See the full article at https://cnb.cx/2LbErrN

I had dinner with this year's summer interns to say goodbye and to inquire about their experiences. They had great feedback and offered ways for us to improve our programs for the next year. Of particular note was their response to whether they would come back to work for our company as full time hires.

I had similar discussions with entry-level to mid-level employees that were leaving the company for better opportunities. Both groups agreed that student loan assistance as a benefit would be a competitive edge for our company.

I would say it is worth a look for employers who want to recruit and retain the best talent. There is an unmet need for early career professionals who aren't ready or can't afford to invest in 401k's at work. Smart job seekers will look for companies that meet their needs.

 

 

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