Corporations Offering Student Loan Assistance
The student loan debt crisis is at $1.4 trillion, the second largest household debt behind mortgages. By 2020, that figure is expected to increase to $2 trillion. With that, many states are offering incentive programs and/or student loan forgiveness assistance, and now corporations are following suit.
Here is a list, by all means not all-inclusive, of some well-known corporations offering student loan assistance.
Sotheby’s, one of the world’s largest art dealers with more than 1,700 employees, is offering to pay $150 per month towards student loan debt.
Abbott Laboratories will contribute 5% towards to 401K’s to employees that contribute 2% or more to their student loans.
Aetna already has a student loan assistance program with more than 700 employees participating last year.
Aetna will match student loan payments for part-time and full-time employees with payments ranging between $1,000 through $10,000 per year.
Millennium Trust Co.
The financial services firm company currently has 20% of its employees enrolled in a student loan assistance program where employees receive a $167 monthly payment towards their student loan balance.
Penguin Random House
The publishing company will contribute between $1,200 to $9,000 towards student loans, and that includes $75 per month for part-time employees.
Alexander Hernandez, Esq.
Per a district court ruling, Education Secretary Betsy Devos has to immediately implement the Borrower Protection Rule.
The Department of Education released data that shows how ineffective the student loan forgiveness program has been.
Attorney Generals from nineteen states plus the District of Columbia sued U.S. Secretary of Education Betsy DeVos and the U.S. Department of Education for failing to implement a borrower protection rule.
Alexander Hernandez has been representing clients since 1999 in the areas of bankruptcy, family law, and personal injury.
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