Across the US workforce, 45 million Americans are burdened by student loans. With the average borrower holding north of $30,000 outstanding. It is no wonder it is one of the United State’s biggest causes of financial stress. However, employers have the opportunity to help through Student Loan Repayment and the Resources provided through the Peanut Butter platform.
The question many employers ask while considering these benefits is ‘How does this impact our industry?’ That answer can be found on our industries served pages, breaking down the prevalence of student debt for each job sector, while noting the financial stress this debt leads to. As a company we serve employers across the job spectrum from Construction to Hospitality. Below are the core industries where student debt has the highest impact, and also where we’ve seen the most benefit kick-offs.
- Education (34% of workers have student loans, for an average of $49,300 outstanding)
- Professional Services (34% of workers have student loans, for an average of $39,100 outstanding)
- Technology (32% of workers have student loans, for an average of $32,700 outstanding)
- Financial Services (32% of workers have student loans, for an average of $31,200 outstanding)
- Healthcare (30% of workers have student loans, for an average of $33,400 outstanding)
- Not for Profit (26% of workers have student loans, for an average of $31,400 outstanding)
Want to learn more about how our programs work and discuss best practices for a potential rollout? Schedule a call with our client solutions team at https://calendly.com/client-solutions/intro?month=2023-12