Thursday, August 17, 2017
 

Student Loan Benefits, Recruitment and Retention

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Student Loan Benefits, Recruitment and Retention

Eighty-nine percent of job seekers with student loan debt said they believe companies should offer student loan repayment as an employee benefit, according to a survey by Beyond.com.

In fact, the survey, which had more than 5,000 respondents, indicated that student loan repayment could be a tool for recruiting and retaining employees. More than 67 percent of those with student loan debt said they would be more willing to accept a job offer if student loan repayment was offered, and 81 percent said they would be more willing to stay with a company if leaving meant losing student loan repayment.

Nearly one-third of the respondents with student loan debt said they owed more than $35,000.

Student loan repayment programs are a relatively uncommon benefit. According to SHRM's 2015 Employee Benefit Survey, only 3 percent of more than 450 companies surveyed offer student loan repayment programs.

Read a full article on the topic on Workforce.com.

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