People With Student Loan Debt Seek Workplace Help

They say they would value the assistance as much as health care benefits and 401(k)s.

Nearly 80% percent of people carrying student loan debt would like their workplace to offer assistance with paying it down, iontuition, a member of the Ceannate companies, found in a survey of 1,000 individuals carrying such debt.  

Fifty-five percent said they would rather that the amount of money they are paying for health care benefits go towards their student loan debt instead, and 49% said they would rather have help with their student loans than be offered a 401(k).

“Employers who rely on a college-educated workforce cannot ignore numbers like these,” says Balaji Rajan, chief executive officer of Ceannate. “Our survey shows that a majority of borrowers would greatly value an employee benefits package tailored to reducing and managing their student debt.”

Iontuition’s survey comes on the heels of a survey that found 56% of Millennials with current or past student debt are delaying major life events, compared with 43% of older adults. The most common milestone they are postponing is buying a house, closely followed by saving for retirement and buying a car.