Employers Helping Repay Student Loans

Hemant Verma on 21 August 2018

Employers Helping Repay Student Loans cover

What if we said that an employer is going to help you pay off your student loans? Would it entice you to work for them even further?


Of course it would. However, it is likely that many reading this have never come across an employer that helps its employees pay off their student loans. Why haven’t you heard of more companies offering student loan repayment programs to employees? While there are a number of answers to this, the simplest is cost. Many companies have not been willing to spend the additional dollars. Student loan repayment carries significant weight amid wage and salary negotiations, though many employers fear that a formal employee student loan repayment program could bleed company funds. That is why here at Goodly, we’ve made our repayment program affordable and transparent in pricing.

Employers are increasingly coming to the realization that they cannot ignore the unique needs of millennials and gen z in the workforce. Additionally, employers have begun to understand that the value add of student loan repayment benefits are mutual – you are able to become debt free faster and your employer retains a valuable member of the team. This understanding is driving more companies to add student loan repayment incentives to the employee benefits package.

At Goodly we are one of the latest entrants into the field. Goodly is offering the new student loan repayment program to interested employers. The program helps companies make after-tax contributions toward employees’ student loan debt. As Goodly sees it, the program is attending to an ever-growing need across generations, those struggling with student loans. We offer $100 per month to all our employees.