Worried about paying your student loans? Some companies are taking your concerns and turning them into opportunities to attract talent. How do they do this? By offering student loan repayment benefits.
In fact, student loan repayment benefits are becoming more and more common in the workforce. Helping employees with the burden of substantial debt has become a selling point for many companies.
While these benefits are typically not large enough to help you pay off your loans immediately, they do usually take care of (at the very least) the monthly interest on your loans. In some cases, it’s even more than that. The bonus to these types of benefits is that they help you pay off your loans faster, so you’re not paying as much interest overall. Which, in turn, makes your student loans cheaper.
If a student loan repayment benefit is important to you, we’ve put together a list of companies that offer it to their employees. It’s a great list to keep in your back pocket now or when you might be back on the job market.
The insurance company is serious about helping their employees pay off their student loans. They match full-time employee student loans up to $2,000 a year (with a lifetime max of $10,000). Part-time employees can get in on the action as well. They match up to $1,000 a year for a lifetime max of $5,000.
No surprise here that Disney would want to give their employees some great benefits. Their Aspire program offers U.S full and part-time employees full tuition payment at any in-network school.
While this might not be great if you already have student loans, if you’re considering working through college, Disney could be a great place to do so. If you’re planning to go to a school in their network, it could pay off big time.
Working for the government comes with several great benefits, but student loan repayment is one of the best. A job with the government will get you up to $10,000 a year in loan repayments with a lifetime max of $60,000. For some people, that’s their entire debt.
Obviously, this benefit depends on your job and where you’re working, but it’s worth looking into if government work is your thing.
CommonBond doesn’t only help their customers with student loans, they help their employees, too. Their student loan benefit offers up to $100 a month ($1,200 a year) with no lifetime max.
Hulu isn’t only about keeping us binging on the couch. They match up to $1,200 a year in student loan repayments for the employees as well.
First Republic Bank
Banking is an attractive career for many, but First Republic makes it even more so with their student loan repayment program. They offer up to $200 a month in student loan assistance until debts are repaid in full. The amount you get depends on your tenure at the company.
Employees are eligible for up to $2,000 a year in student loan repayment assistance after they’ve been employed for over 6 months. The lifetime max is $10,000, which is a pretty big chunk of change.
The beauty company assists its employees with student loan repayments of up to $100 a month with a lifetime max of $10,000.
Chegg as been helping students save money on textbooks for years, so it’s not a surprise they’d help their employees out where they can.
They offer up to $5,000 in student loan repayment assistance, depending on your position in the company. It’s unclear if there’s a lifetime max, but either way, it’s a pretty big repayment opportunity.
While you definitely don’t want to work at a company based on one benefit alone, it’s great to know a potential employer has your back. Especially when it comes to substantial debt like student loans.
If you’re looking for a job, and benefits matter to you, consider looking at companies that include a repayment benefit in addition to other essential benefits.
Either way, knowing there are jobs out there that might help you make a dent in your student loan is a good starting point on your search.