A growing number of organizations are adding student loan repayment solutions to their benefits lineup. While expanded tax benefits for both employers and employees are a big part of the allure, HR leaders also understand the broader implications.
The tax advantages are one thing. But instituting these programs can also help correct the productivity drain that employees’ financial pressures can cause and also boost recruitment and retention. The trick is to step carefully in setting the programs up to avoid potential compliance pitfalls.
Student Loan Debt Contributes to Employee Financial Stress
Student loan debt has climbed to a