Employers offering student loan assistance is all the rage these days. Much like lengthier parental leave and remote work options, companies helping their employees pay down student loan debt the it-tactic when it comes to attraction, recruitment, and retention. Smart move, employers. After all, there are 40 million Americans with student loan debt, bringing the total U.S. student debt burden to more than $1.3 trillion, the federal government estimates.
While a recent report says that only 4 percent of organizations offer student-debt repayment assistance, a separate survey found that Millennials, the generation with the most student loan debt, value student loan benefits more than previous generations.
Given this, we thought we’d highlight the companies that are hiring like crazy now and that offer student loan assistance. It’s the best of both worlds: a new gig and a way to pay down debt. Raise your hand if that sounds like a win-win!
Company Rating: 3.7
Student Loan Policy: PWC’s Student Loan Paydown (SLP) will pay $1,200 a year towards an associate’s or senior associate’s loans. “Over time, this may help reduce student loan principal and interest obligation by as much as $10,000, and shorten your loan payoff period by up to three years.”
What Employees Say: “Great benefits, great pay, great reputation in the community!! Employers seek out former PwC employees because of the noteworthy reputation for hiring qualified candidates.” —Current Senior Associate
Company Rating: 3.2
Student Loan Policy: “Aetna will match employees’ U.S.-based student loan payments up to $2,000 per year for a lifetime maximum of up to $10,000 for qualifying loans. All full- and part-time (20 hours a week or more) active Aetna employees are eligible for the program. For part-time employees, Aetna will match up to $1,000 a year with a lifetime maximum of $5,000.”
What Employees Say: “Awesome benefits, healthy lifestyle rewards, Apple Watch Program, student loan repayment program, and great compensation. Many people in my department have flexible work from home schedules. Happy place to work.” —Current Actuarial Analyst
3. Penguin Random House
Company Rating: 3.7
Student Loan Policy: In 2016, Penguin Random House became the first publisher to offer student loan assistance. “Any regular full-time employee who has been with the company one year is eligible for the student loan repayment benefit of up to $1,200 annually during their employment, for up to seven and a half years, totaling $9,000.”
What Employees Say: “Great benefits for recent grads, perks for staying with the company long-term, wonderful culture and values, access to tons of amazing books.” —Current Sales Assistant
Company Rating: 3.8
Student Loan Policy: “Pay down student loan debt faster and save on interest with Fidelity’s $2,000 annual contribution, up to $10,000, paid right to your student loan servicer. Plus, get access to online tools to help you better manage your student loan debt.”
What Employees Say: “Benefits package is really nice. 7% 401k match, profit sharing, HSA contribution, yearly performance-based bonus at Christmas, regular raises, chairman’s shares which mature after two years if you do well.” —Current Software Engineer/Developer
Company Rating: 4.3
Student Loan Policy: “If you graduated within the past three years, Nvidia employees can apply for reimbursement of $6,000 each year to help repay your student loans, up to $30,000! To be eligible, you must be a full- or part-time U.S. employee working 20 hours or more per week, and have completed three months of continuous service.”
What Employees Say: “Working at Nvidia is fun! The working environment is great, colleagues are very helpful and extremely smart. Everything happens here at Speed of Light. Lots of amazing benefits that are best in the industry. The company believes in transparency and we can see this value in its culture. At Nvidia winning is important but its more important that if we fail then we fail together and not alone. This is how we roll and we take risks knowing that we will never fail alone! I am proud and fortunate enough to be a part, of this great Company!” —Current Senior Network Engineer
6. First Republic Bank
Company Rating: 3.5
Student Loan Policy: “First Republic’s Student Loan Repayment Assistance program has expanded to provide a tiered financial contribution based on the length of time an employee is enrolled in the program. The expanded benefit, which took effect Nov. 1, provides the following student debt repayment assistance: $100 per month of loan repayment during the first year of enrollment in the benefit; $150 per month of loan repayment during the second year of enrollment in the benefit; $200 per month of loan repayment thereafter while enrolled in the benefit until the debt is repaid.”
What Employees Say: “Great culture and support system from top to bottom.” —Current Senior Associate
Company Rating: 3.1
Student Loan Policy: “Staples’ Student Loan Repayment Program assists U.S. associates who have obtained or are in the process of obtaining a degree from an accredited institution and have outstanding student loans. Through the Program, Staples will make payments of $100 per month for 36 months towards the principal portion of an associate’s student loan, totaling $3,600 in additional contributions paid towards an associate’s outstanding student loans.”
What Employees Say: ““Good leadership, friendly co-workers and a pleasant environment to work in. Flexibility in your work schedule depending on who your leadership is. There is a sense of family, which is nice. Even so part of a huge corporation it doesn’t always feel that way.” —Former Specialist
Company Rating: 3.8
Student Loan Policy: Chegg’s College Loan Reduction Plan is provided in partnership with Tuition I.O.. Chegg contributes an annual amount toward paying down full-time employees’ student loans.
What Employees Say: “Remote working, flexible hours, having experience with students residents all over the world, reasonable earnings per hour, well-organized company.” —Current Online Tutor
9. Natixis Global Asset Management
Company Rating: 3.5
Student Loan Policy: Natixis Global Asset Management helps its associates mitigate the cost of their student loans. Natixis offers $1,000 annually to all employees with any federal or private student loans, regardless of an employee’s tenure with the firm, up until a maximum of $10,000 over a 10-year period, as long as the individual is still employed by Natixis.
What Employees Say: “Natixis offers a very good benefits package, it has a European mentality in terms of work/life balance and it is small enough that provides access to the senior management.” —Former VP
Company Rating: 4.1
Student Loan Policy: “CommonBond provides each company employee up to $100 every month, or $1,200 each year, to help pay down their loans. The benefit will last until the loan is fully paid off, so long as the person is employed at CommonBond.”
What Employees Say: “Rewarding to work for a company that is helping to address the broken student loan market and has a social mission.” —Current Operations Employee
Editor’s Note: The companies and jobs highlighted in this article are curated by the editorial staff, listed in no particular order, and do not necessarily reflect the official methodology of Glassdoor’s official awards or honors. Each company’s student loan assistance program was verified on the company website as of 5/5/2017. For more details about how companies and specific roles are considered for editorial coverage, please visit Glassdoor for Employers.