Should Companies Assist Employees Pay Off Their Student Education Loans?

Should Companies Assist Employees Pay Off Their Student Education Loans?

There’s no tax benefit, plus it’s quite difficult, many companies are selling loan-repayment as an advantage.

Every thirty days, Fidelity Investments contributes precisely $167 apiece toward the student-loan repayments of very nearly 9,000 of its employees. Generally in most situations, Fidelity could make a easy electronic transfer to student-loan servicers, the patchwork of businesses that handle payment as well as other administrative functions for student education loans in america, of which there are over $1.5 trillion outstanding. Several servicers, though, force Fidelity to issue paper checks for specific loan payments—and if there’s a mistake, the check eventually gets delivered back. Read more