Check Out This Job Perk: Help Paying Down Student Loans

Check Out This Job Perk: Help Paying Down Student Loans Photo (cc) by DonkeyHotey

Working at PricewaterhouseCoopers, a global consulting and accounting firm, is about to get a lot better for employees with outstanding student loan debt.

PwC recently announced plans to help its workers pay down their student loan burden.

Beginning in July 2016, PwC’s associates and senior associates, who make up about half of the firm’s 46,000 workers, are eligible to receive up to $1,200 per year for six years to pay down their student loans, The Washington Post reports.

The average college student these days graduates with about $35,000 in student loans, the Post explains, so the move could help attract millennial workers to PwC.

“Their slightly older peers might be concerned about parental leave or time off, but the firm found student loan debt to be a particularly pressing issue among its youngest employees,” the Post said.

Although PwC’s latest job perk may be nontraditional, just 3 percent of companies offer it, CNN Money reports, it could give the firm an edge as it competes for workers in an improving labor market.

PwC recruits about 11,000 workers straight out of college each year.

“We have reached a tipping point,” Michael Fenlon, global talent director for PwC, told the Post. “Student loan debt impacts the ability to save for retirement, so it has lots of secondary impact as well. We saw this as a way to provide leadership on a major societal issue, as well as something that’s really important to our people.”

Click here for “13 Ways to Pay Off Student Loans Faster.”

What do you think of employers offering student loan repayment assistance as a benefit? Share your comments below or on our Facebook page.

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