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If you have student loan debt, you may be able to get help paying it off through your employer – or find one that does.
More than 44 million Americans are burdened with student debt, and collectively owe $ 1.7 trillion.
Now that the “big resignation” gains momentum and workers search for new jobs, employers are trying to find ways to attract and retain talent. One of the advantages is working remotely and offering assistance with these loans. (See a list below of companies with these benefits that are hiring now.)
Federal student loan payments, most of which were suspended during the pandemic, are expected to resume in January.
“It’s important for employers to meet employees where they are and find benefits that will serve them well and add value to them,” said Toni Frana, Destin, Fla. Based career coach at FlexJobs .
Currently, 17% of employers offer student loan assistance and 31% plan to offer it, according to the 2021 Employer Financial Well-Being Survey from the Employee Benefit Research Institute.
About 70% of employers said employee engagement in the benefit has increased since 2020.
Meanwhile, many Americans want to continue working remotely instead of returning to the office. A Prudential survey this spring found that 87% of them want to be able to continue working from home.
Here are eight companies that help employees pay off student loan debts and also offer work-from-home positions, according to FlexJobs. Average annual base salary is courtesy of Payscale, unless otherwise stated in the job posting.
Employees at this Abbott Park, Ill.-based healthcare research company can divert the 2% minimum contribution they would normally have to make to their 401 (k) plans to get the 5% matching in order to repay their student loans. The employee still receives the 5% contribution in his 401 (k).
Current job openings include: Senior Business Analyst (average annual base salary: $ 86,107) and Senior Regulatory Affairs Specialist (average annual base salary: $ 89,212).
2. American family insurance
CommonBond, a New York-based online lender that offers student loans and student loan refinances, provides up to $ 100 per month in student loans, with no lifetime limit, to its employees.
Current job openings include: DevOps Engineer (average annual base salary: 96,624) and Compliance Officer (average annual base salary: $ 79,307).
4. Fidelity Investments
The Boston-based financial services company offers eligible employees a maximum of $ 2,000 per year and a lifetime maximum of $ 10,000 for student loans.
Current job openings include: Senior Content Strategist (average annual base salary: $ 62,350) and Investment Solutions Representative (average annual base salary: $ 45,212 / yr.)
5. New York life
New York Life pays $ 170 per month, over five years, to student loans in good standing. Employees can reduce their debt by up to $ 10,200 when enrolled.
Current job openings include: Implementation Manager (average annual base salary: $ 74,270) and Senior Associate – Business Analysis Advisor (average annual base salary: $ 86.10)
Parallon, headquartered in Nashville, Tennessee, is a division of HCA Healthcare, which provides $ 100 per month for student loans for eligible full-time employees and $ 50 per month for part-time workers. Undisclosed lifetime maximums apply.
Current job openings include: Coding Quality Review Specialist (average annual base salary: $ 57,312 / yr) and Coding Resolution Specialist (average annual base salary: $ 41,910).