PRIVATE SECTOR STUDENT LOAN FORGIVENESS PROGRAMS

Studying

As a follow up to my previous post about innovative things employers can do to help employees, I want to highlight another private-sector employer going the extra mile for its employees.

A recent USA Today article discussed the new program accounting firm PricewaterhouseCoopers is launching next year to help its associates and senior associates with student loan debt.

PwC employees who opt in to the benefit will have $100 per month (or $1,200 per year) paid toward their student loan debt.  The program will be available to the approximately 22,000 PwC associates and senior associates and the company is working on setting up a way to deposit the loan repayment funds directly into employees’ student loan accounts.

The program should help with recruitment and diversity, as PwC will be able to attract a wider variety of college graduates who may have higher amounts of student loan debt.  Currently, the largest student loan forgiveness program is for employees in public service jobs.  The PwC program is one of the first from a large, private sector employer.  We hope more employers will follow suit and consider implementing a similar program to help with the growing concern of student loan debt.

photo credit: <a href=”http://www.flickr.com/photos/87296837@N00/17490958561″>Boston Public Library Reading Room</a> via <a href=”http://photopin.com”>photopin</a&gt; <a href=”https://creativecommons.org/licenses/by/2.0/”>(license)</a&gt;

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