Student Loan Benefits Poised to Take Off

Amanda Eisenberg published an article this week on EBN describing how millennials and Gen Zs are entering the workforce saddled with $30,000 of debt and lower wages than their parents earned at their age.

Eisenberg notes, “The changing workforce demographics have created a new protocol for HR departments to follow, which includes updating the benefits package to resonate with younger employees.”

While such companies as Aetna and Estée Lauder Companies are now offering about $10,000 in lifetime contributions to employees’ student loans, these benefits are not tax-preferred which Eisenberg notes makes it a difficult offering for the majority of companies to squeeze into their ever-growing benefits package.

Click here to read more and to find out what Congress may be doing about this problem.

 

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