People entering the workforce after college may be surprised to find that benefit packages from some employers might include student loan repayment contributions.
Companies that offer this perk are few and far between as of now, but more and more employers are considering helping new employees pay off student loan debt.
Young workers may want to inquire about such packages when looking for a job because student loan repayments can put a big dent in their income when starting out.
Here are eight employers that help you repay college loans:
1. Chegg — The educational company that provides online textbooks and tutoring, as well as scholarship materials, for high school and college students, offers annual contributions of $1,000 to employees for paying off student loan debt, according to Jessica Mai in Business Insider. Employees can receive these contributions yearly if they are still in student debt.
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2. Fidelity Investments — The firm’s Step Ahead Student Loan Assistance program will contribute $2,000 each year for up to five years toward student loan debt for full-time employees with more than six months at the company.
3. Aetna — The healthcare company matches $2,000 each year for full-time employees, Forbes reports. The contributions are limited to $10,000 overall.
4. NVidia — Employees who work for this visual computing technology firm and need help with student loan debt are eligible to receive $6,000 a year, or $500 a month. They can receive up to $30,000 over time.
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5. Natixis Global Asset Management — The Boston-based investment company will provide a $1,000 annual benefit toward an employee’s student loan debt immediately upon hire. "The update to the benefit includes a payment in the amount of $83.33 per month made directly to the student loan provider up to the life of the loan, or a maximum of $10,000 over a 10-year period, as long as the individual is still employed by Natixis," according to a company release.
6. PricewaterhouseCooper — The audit and tax consulting service offers $1,200 a year towards student loan repayment for up to six years, totaling $10,000, explains Student Loan Hero.
7. Kronos — This company offers student loan repayments in place of other benefits. Employees receive yearly $500 contributions for their student loan debt when they remove payouts for unused vacation time.
8. Martin Health Systems — Nursing employees at this Florida company may be eligible for $2,000 a year paid toward their student loans. They may also qualify for student loan forgiveness programs for nurses that pay off loans over a five-year period.
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