Student Loan Assistance has shifted to the top of many news headlines and Human Resources department agendas in October. The month that many thought wouldn’t arrive for the past three and a half years is now in full swing, and borrowers around the country are making payments again on their federal Student Loans.
With financial wellness constantly on the minds of top employers, Student Loan Assistance is also making headlines because of the value placed on it by young workers. A recent piece from BenefitsPro, cited a study that found, ‘59% of young workers place a higher value on paying off student loan debt than saving for retirement, home ownership, and emergencies.’
The article highlighted how employers can help their employees in simple and effective ways. One of them is, providing their teams with tools and resources to help manage their student debt. Peanut Butter’s Student Loan Resources programs do just that, by offering employees the insights they need to manage their student loans through a curated technology-based action list. These programs are also cost-effective, as employers simply incur an annual base fee to offer a program. Best of all, employers can upgrade to Student Loan Repayment at any time to begin making contributions toward their team members’ loans alongside these resources.