Here’s A Winning Strategy For Hiring Early Talent: Help Them With Their Student Loans [Forbes]

As employers continue to navigate the post-pandemic era, a new normal is setting in for student debt holders as payments resume in October. The end of pandemic-related forbearance doesn’t generate a net new monthly expense for most borrowers, but it certainly feels new since federal student loans hadn’t required payment for over 40 months.

In a recent article, Forbes identified employer-sponsored student loan assistance as a winning strategy for hiring early talent. The piece set the stage by highlighting that nearly 60% of 2024 graduates will enter the workforce with student loans, averaging around $29,000 outstanding per borrower. Ultimately, this debt, will have a significant impact on where each individual will end up kicking off their professional careers. By contributing toward student loans, employers have an opportunity to win in many different ways; and the article highlighted the following:

  • Student loan assistance gives a recruiting advantage to companies, especially those seeking more diverse talent
  • Student loan assistance can help with retention and commitment
  • Student loan assistance can take some of the financial pressure off of early talent

As this new generation enters the job market, employers must remember that financial well-being is a critical component of overall organizational wellness.

Read the original article from Forbes: