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.
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