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Why the student loan crisis matters to employers


Are you doing enough to stop your top talent from walking out your door? As the labor market becomes increasingly competitive due to the dramatic labor shortage from retiring baby boomers, employers must tap innovative recruiting and retention strategies. Today’s employees under the age of 40 have different priorities and needs — what's foremost in their minds is how to get out from under crushing student loan debt. In a recent EdAssist study of Millennials, who will constitute the largest segment of the U.S. workforce as of this year, 1 in 3 workers said employers should help to repay their student loans.

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Choose the loan assistance experts


An effective loan assistance program has to be aligned with your organization's talent goals, and provide meaningful support for your workers. This starts with designing the right policy — one that is efficient to manage, effective at recruiting and retaining your most-needed skills, and capable of delivering great returns on your investment. When you are ready to launch a student loan benefit, turn to the top name in education assistance: EdAssist. We manage more than $450 million in tuition and loan payments for more than 140 large employers, and our policy experts can help you design a tailored program that addresses your specific goals.

5 Keys to an Effective Loan Assistance Program

A powerful recruiting and retention tool


Two-thirds of employees under age 40 have student loan debt, and that figure keeps growing. There is no one-size-fits-all strategy for paying that debt back, either. Make your program more valuable to employees, and more effective at recruiting and retaining talent, by pairing loan repayment with expert, impartial advice. EdAssist’s student loan assistance solution combines the convenience of a cloud-based self-service platform for loan repayment with the impact of personalized repayment guidance. Our college finance advisors can help your employees weigh repayment strategies and stretch the value of your repayment dollars — improving financial wellness and creating a more compelling employee benefit.

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Key Benefits


  • Differentiate your recruitment, compensation, and benefits package to secure the best talent
  • Strengthen talent management strategies
  • Increase employee loyalty and reduce turnover
  • Improve employees' financial well-being