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Why Retirement Plan Sponsors Should Care About Employee Student Loan Debt
According to the College Board, the cost of a four-year education increased more than 200% (after inflation) from 1988 to 2018. This has placed a tremendous burden on graduates, with national student loan debt now topping a staggering $1.6 trillion.
What is the status on allowing 401(k) match for student loan payments?
A newly proposed Senate bill by Senate Finance Chairman Ron Wyden, would enable participants to continue saving for retirement while repaying their student debt, even in the event they can't afford to make their own contributions to a 401(k) plan. This feature could be offered at the option of the employer and would apply only for expenses pertaining to higher education.
Should your Company Implement a Student Loan Assistance Program?
The simple answer is yes! By doing so, you’ll attract, retain and engage top college-educated talent at your company.
Student Loan Contribution Programs: The New Way to Recruit and Retain Millennials in Today’s Workplace
As human resource managers begin working on updating their benefits package, it’s important to remember that millennials are quitting their jobs faster than employers can hire them - which is especially problematic considering millennials now make up 50 percent of the workforce.
Repay Student Loans or Save in a Retirement Plan? Why Not Both?
Many employees feel squeezed to both pay off their debt and save for their future. A recent Private Letter Ruling (PLR) opens the door for employers to help them.
Don’t Let Student Loan Debt Get In Your Way of Financial Success
Don’t Let Student Loan Debt Get In Your Way of Financial Success . Here are some steps you can take to help eliminate your student loan debt:
