What can employers do to assist workers with student loan debt? According to this PlanSponsor article, some strategies include direct-to-worker payments or an indirect option for student debt repayment benefits. McDermott Partner Jeffrey Holdvogt said a loan consolidation or refinancing option can help workers get a lower interest rate.
“There’s an expectation that many individuals will begin repaying student loans again sometime soon and what should employers be thinking about in terms of student loan benefits [for workers]? There’s a few different buckets of options for employers to provide student loan benefits,” Holdvogt said.