The enormity of the student debt crisis is staggering. The Federal Reserve has reported a record-breaking $1.7 trillion in federal and private student loan debt, which is currently held by more than 44 million Americans.
Companies Can — and Should — Help Employees Pay Student Loans
Lessons from PwC’s paydown program.
March 17, 2021, Updated March 17, 2021
Summary.
Student loan debt is a massive problem in the United States. Should companies help their employees pay down their balances — and if so, how? Five years ago PwC decided to tackle both questions by instituting a student loan paydown program for young employees. They share what they learned, including the research required to set up a fair and equitable program employees and management could get behind, and discuss the building blocks other companies should focus on when deciding if a similar program is right for them.