Top 10 Companies Offering Student Loan Repayment Assistance Programs

Employer student loan repayment benefits are gaining traction and slowly becoming a standard. In 2024, 14% of companies offered student loan assistance, with 31% planning to do so in the future.

Student loan repayment benefits are a powerful tool to lessen employee financial stress so they can be happier and more present at work. Not to mention that providing assistance improves retention, recruitment, morale, and overall employee well-being!

1 in 3 employees say student loan assistance is the benefit they want most. Let's explore 10 outstanding examples of student loan repayment assistance programs and how Paidly can help your company offer similar benefits.

1. Fidelity Investments

Company: Fidelity is a multinational financial services company known for its investment management, retirement planning, and wealth management services.

Benefit: Fidelity offers a lifetime maximum of $15,000 for full-time employees and $7,500 for part-time employees in student loan repayment assistance.

2. PwC (PricewaterhouseCoopers)

Company: PwC is a global professional services firm providing financial consulting, tax assessment, and audit services to a wide range of industries.

Benefit: PwC provides its employees with up to $1,200 per year for up to six years in student loan repayment assistance (with a lifetime maximum of $7,200).

3. Walgreens

Company: Walgreens is a retail pharmacy offering prescription and over-the-counter medications, beauty and hygiene products, photo printing, and various healthcare services.

Benefit: Walgreens matches employee student loan payments with 401(k) contributions up to 4% of their pay.

4. Chegg

Company: Chegg is an online education platform providing students with digital textbooks, tutoring, and study resources.

Benefit: At Chegg, entry-level through manager-level employees who have at least two years tenure receive up to $5,000 per year toward student loans. Employees at the Director or Vice-President level receive up to $3,000 annually. This is on top of the $1,000 cash that all employees with student debt receive each year.

5. Nvidia

Company: Nvidia is a technology company specializing in the design and manufacture of graphics processing units (GPUs) and artificial intelligence (AI) solutions.

Benefit: Nvidia provides employees who have earned a degree within the past three years up to $4,200 per year in student loan repayment assistance (with a lifetime maximum of $30,000).

6. Abbott

Company: Abbott is a global healthcare company developing and manufacturing a wide range of medical devices, diagnostic tools, and nutritional products.

Benefit: Abbott offers its employees the Freedom 2 Save Plan, which rewards employees who put at least 2% of their pay toward student loans with a 5% company contribution to their 401(k).

7. Estée Lauder

Company: Estée Lauder is a multinational cosmetics and skincare company offering a wide range of beauty products.

Benefit: Estée Lauder provides employees with up to $100 per month in student loan repayment assistance (with a lifetime maximum of $10,000).

8. Banfield Pet Hospital

Company: Banfield is a veterinary hospital chain that offers pet wellness plans instead of traditional pet insurance.

Benefit: Banfield offers veterinarians up to $450 per month in student loan repayment assistance, with no lifetime maximum. Over the first five years of the benefit, the company’s turnover rate was reduced by half!

9. Live Nation

Company: Live Nation is a global entertainment company operating concert venues, producing live events, and managing artists.

Benefit: Live Nation gives employees up to $100 per month in student loan repayment assistance as long as they’ve been with the company for at least six months (with a lifetime maximum of $6,000).

10. Adidas

Company: Adidas is a multinational corporation specializing in the design and manufacture of sports apparel, footwear, and accessories.

Benefit: Adidas offers student loan support for full-time employees in the US, up to $100 per month. Adidas introduced the benefit in response to 80% of their employees indicating student debt causes them significant stress.

Paidly Helps Offer Student Loan Repayment Assistance

Paidly enables employers to offer student loan repayment assistance as an employee benefit. Through Paidly, employers can make supplemental, tax-free payments of up to $5,250 per year toward an employee's student loans. This not only helps employees pay off their loans faster but also improves workplace retention, loyalty, and well-being.

If you're interested in bringing student loan benefits to your workplace, Paidly’s got you covered. To learn more about how we can help your company offer employer student loan repayment assistance, schedule a demo or visit our Employer Benefits page.

Lead the Way in Innovative Benefits

Employer student loan repayment assistance programs are becoming increasingly important in the workplace. The 10 companies we covered in this article have led the way in offering innovative benefits to their employees… and you could join them!

Student loan assistance has competitive advantages for employers and life-changing results for employees. It’s never too late to start – get your benefit up and running today!