Student loan debt has exceeded both credit card and auto loan debt, according to the Federal Reserve. If you employ millennials, many of your own employees are probably struggling with how to pay off student loan debt while also planning for retirement. This financial challenge is not only taking an emotional toll on your employees, it’s also putting pressure on your business. Here are 3 reasons a student loan repayment benefit is a good choice for a well-rounded benefit package.
Struggling Employees, Struggling Business
A study by Laurel Road, discussed in 5 reasons to offer a student loan repayment benefit in 2019, revealed that more than half of college-educated adults are concerned they won’t make enough money to achieve financial goals. This distraction is increasingly becoming a burden on businesses through lost productivity and, worse yet, the loss of skilled talent. More employees are choosing to hop job