Student loan debt significantly impacts employee well-being and productivity. Offering student loan repayment assistance as an employee benefit is emerging as a powerful tool for attracting, retaining, and motivating top talent. This guide explores the various facets of this increasingly popular employee perk, examining its design, implementation, financial implications, and overall impact on both employers and employees. We will delve into the different types of student loan repayment assistance programs available, from direct contributions to loan forgiveness, and analyze their tax implications. Furthermore, we’ll investigate the strategic advantages of incorporating such programs into a comprehensive benefits package, considering recruitment, retention, Read More …
