Student Loan Forgiveness Counseling
The sharpest tool in your benefits toolbox
Want to improve retention, boost recruitment, and engage more productive, less stressed employees?
The Problem
Although group benefit packages tend to focus on 401(k) investments and health insurance plans, student loan debt assistance has become one of the fastest growing offerings—and for good reason. The numbers don’t lie. With more than $1.7 trillion owed, student loans are the second biggest source of consumer debt after mortgages and affects nearly 45 million Americans. 2023 has been a watershed year for student loan borrowers, and 2024 is poised for the same. The time to offer student loan benefits is now..
$1.7 Trillion
Student Loan Debt (Federal & Private)
45 Million
Borrowers in the United States
60 percent
College graduates who have student loan debt
48 percent
employers offering or planning to offer student debt benefit
78 percent
employees who want employer to offer student debt benefit
How does the benefit work?
video?
National Student Debt Forgiveness Center provides consultative services dedicated to helping your employees achieve financial freedom from student loans. Help your employees get what they are entitled to. Most federal student loan borrowers are eligible for lower monthly payments and a faster path to forgiveness than they realize.
- Benefit available to private-sector, public-service, and non-profit 501(c)(3) employers and group organizations
- Support diversity, equity, and inclusion (DEI) initiatives
- Increase retention and attrition
- More productive, focused workforce
- Empower employees to make strong financial decisions
Employees Need Help With Student Loan Debt
Borrowers are increasingly looking towards employers and benefits administrators for help with their student debt.
“Employees are clear about their need for student loan solutions. It’s now up to employers to recognize the opportunity they have to lessen the significant mental and financial burden of this debt for their employees—while cultivating a more cutting-edge benefits package that can also appeal to prospective talent.” –BenefitsPRO
said they would consider not leaving their employer if they had access to student loan benefits
Recruitment
Fidelity Investments found that half of new hires said the student loan benefit was a major factor in their decision to join a company.
Retention
86% of young workers would commit five years to an employer that helps them pay off their student loans, showing the value that these benefits can play towards retention.
Happier Employees
76% of stressed employees say financial worries have had a negative impact on their productivity; within that group; of those, 25% say the impact has been severe or major
