Many employees have been dealing with an ongoing, debilitating crisis that took hold long before the pandemic: student debt. And unlike COVID-19, there’s no vaccine to help slow the spread.
Americans owe an estimated $1.7 trillion in student loans, according to the Federal Reserve, and while this debt continues to grow, only 8% of employers offer benefits that address this issue, according to the Society for Human Resource Management.
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But employees aren’t going to accept the status quo anymore — they want and expect benefits that go beyond healthcare and a 401(k).
“There's been this recognition that widespread student loan cancellation is not going to happen, and the reality is that Congress is taking no action on loan forgiveness,” says Greg Poulin, CEO of student loan benefit provider Goodly. “A lot of employers recognize that a college degree is a prerequisite for employment, and that they have a role to play in helping those employees repay that student loan debt.”
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Goodly has created a database listing all the employers in the U.S. who are currently offering student loan benefits — some through Goodly, some in partnership with other benefits providers . Scroll through this sampling, pulled from the Goodly resource, and learn which prominent companies are taking care of their employees’ financial well-being through debt relief programs.
