Student loan borrowers are preparing to either resume payments or start making them for the first time since March 2020. Currently, federal student loan payments are scheduled to resume 60 days after June 30. That can change if the Supreme Court rules on President Joe Biden’s student debt forgiveness plan, in which case payments will […]
Tag: student loan repayment
As a consultant who feels strongly about providing employees with both choice and value in their overall benefits package, I am heartened to see that employers increasingly see voluntary benefits as a means of enriching their core benefits plan by allowing employees to choose more personalized benefits. However, it is important to focus on providing […]
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 […]
The initial fallout from the COVID-19 pandemic is putting new urgency on company benefits. As employees look to their benefits offerings, companies are responding in kind by leveraging, expanding, and creating new benefits to answer the needs of their employee populations.
Although Millennials are most often cited for being slammed with crippling debt, actually, one in five adult Americans carry student loan debt, according to NBC News. This means your company’s newly graduated intern or your vice president could be one of those people.
By the year 2025, it’s estimated that Millennials will make up roughly 75% of the American workforce. This means that HR professionals, business owners, hiring managers, and anyone else involved in the recruitment process needs to have a solid understanding of this demographic if they hope to compete in the market.