The Need is Real
So is the Benefit to Employers
Recruiting
80% prefer working for a company that offers repayment assistance. (Bloomberg)
49% prefer student loan repayment contributions over 401(k) contributions. (HR Daily Advisor)
55% would prefer their employer health benefit contributions go toward their student loan debt instead. (NFCC)
Retention
Employees are willing to stay at a job 36% longer if offered loan repayment assisance. (Millennial Benefit Preference Study)
58% of employees said better benefits would help them stay at their current job. (Forbes)
Engagement
81% of employees admitted financial stress affected their productivity at work. (MetLife)
29% of Gen X employees said finances distract them at work. (PricewaterhouseCoopers)
20% of employees noted skipping work to deal with a financial situation. (MetLife)