Despite all the hype about student loan repayments as a workplace benefit, only 4% of American businesses presently offer this perk. 40 million Americans carry $1.3 Trillion in student loan debt.
As a talent shortage drags on, businesses in search of rare new skills are the most likely to offer loan repayment.
Despite few businesses offering loan repayment, it's not for lack of awareness. 90% of managers interviewed said that student loans were a high cause of employee stress.
80% said that this stress causes lowered productivity among employees. 80% said that loan repayment would attract great talent, and 70% that it would be a great retention tool.
Read full article at SHRM.