List of companies that will pay worker student loans

There are many workers in the job market looking for a job with better pay and benefits.

And, one of the ways companies attract workers is by offering to pay off student loans.

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Forty-five million people in the United States have student loan debtCredit: Getty

In 2019, student debt repayment programs were a hot topic among employers.

However, the pandemic hit quickly, and employers shifted their focus to programs that offered more immediate relief, like emergency savings and hardship payments.

Now, there is a renewed interest in student loan programs because many workers are leaving their jobs to find better paying ones.

Companies are hoping student loan programs will encourage workers to apply and keep their jobs.

McLaren Northern Michigan Hospital just added student loan assistance to its employee benefits this month, and it looks like many companies will follow suit.

Below are other companies that offer student loan assistance as an employee benefit.

Chegg

Chegg’s Employer Student Loan Repayment Assistance is available for two- and four-year programs, whether or not the employee has graduated.

The company will pay up to $5,000 a year to pay off student debt for entry-level employees to manager-level employees, and up to $3,000 for director- and vice-president-level employees.

Estee Lauder

The company will contribute $100 per month to employee student loans, capping total student loan repayment at $10,000.

For Estée Lauder employees who are still in school or planning to pursue higher education, the company also offers tuition reimbursement options.

google

In September 2020, Google announced the addition of its student loan repayment program.

US-based Google employees can receive up to $2,500 in student loan repayment from the Silicon Valley tech company.

This benefit is available annually.

Hulu

Hulu is offering $1,200 a year to help employees pay off college debt.

nation live

Live Nation is offering $100 per month in student loan repayment assistance to eligible employees, with a lifetime maximum benefit of $6,000.

Since implementing its student loan assistance program, Live Nation says it has provided its employees with more than $4 million in student loan assistance.

New York life

New York Life contributes $170 per month, over five years, toward student loans in good standing.

Employees can reduce their debt by up to $10,200 during enrollment.

Random penguin house

Penguin Random House is the first book publisher to offer a student loan repayment assistance program.

The publisher offers full-time employees up to $1,200 a year for their student loans.

Penguin’s repayment goes directly to its employees’ primary student loan balance.

This advantage reaches its maximum after 7 and a half years and totals $9,000 in student loan repayment.

The Sun explains more about student loans in 2022.

And make sure you don’t waste your student loan – unlike this student, who blew his nose in Turkey.

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