Top 10 Companies Offering Student Loan Repayment Assistance Programs

We have compiled a list of 10 top companies that offer exceptional student loan assistance programs to their employees.

In 2021, 17% of companies offered a student loan repayment benefit plan, and 31% planned to provide it in the future. Let's explore these 10 companies with outstanding student loan repayment assistance programs, making them attractive workplaces for those seeking relief from student loans. Additionally, we'll show you how Paidly can empower your company to offer similar benefits, boosting employee satisfaction and retention.

1. Fidelity Investments

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

Student Loan Repayment Assistance: Fidelity offers its employees up to $2,000 per year in student loan repayment assistance, with a lifetime maximum of $10,000.

2. PwC (PricewaterhouseCoopers)

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

Student Loan Repayment Assistance: PwC provides its employees with up to $1,200 per year in student loan repayment assistance, with a maximum benefit of $10,000.

3. Aetna

Overview: Aetna is a leading health insurance provider in the United States, offering various health plans and services.

Student Loan Repayment Assistance: Aetna offers its full-time employees up to $2,000 per year in student loan repayment assistance, with a lifetime maximum of $10,000. Part-time employees can receive up to $1,000 per year, with a lifetime maximum of $5,000.

4. Chegg

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

Student Loan Repayment Assistance: Under the new Chegg program, entry level employees through manager level, who have at least two years tenure at Chegg will receive up to $5,000 annually. Employees at the Director or Vice-President level are eligible for up to $3,000 annually. These new equity grants are in addition to the $1,000 cash that employees with student debt already receive each year.

5. Nvidia

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

Student Loan Repayment Assistance: Nvidia provides its employees with up to $6,000 per year in student loan repayment assistance, with a lifetime maximum of $30,000.

6. Abbott

Overview: Abbott is a global healthcare company developing and manufacturing a wide range of medical devices, diagnostics, and nutritional products.

Student Loan Repayment Assistance: Abbott offers its employees the unique Freedom 2 Save Plan, allowing employees to receive a 5% company match on their 401(k) contributions if they also pay at least 2% of their salary toward student loans. The employees who've signed up so far range from their early 20s to their 60s. The average amount of student loan debt held is $38,000, but the most anyone holds is over $300,000.

7. Estée Lauder

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

Student Loan Repayment Assistance: Estée Lauder provides its employees with up to $100 per month in student loan repayment assistance, with a lifetime maximum of $10,000.

8. SoFi

Overview: SoFi is a personal finance company offering various financial products and services, including student loan refinancing, mortgages, and personal loans.

Student Loan Repayment Assistance: SoFi offers its employees up to $200 per month in student loan repayment assistance, with no lifetime maximum.

9. Live Nation

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

Student Loan Repayment Assistance: Live Nation provides its employees with up to $100 per month in student loan repayment assistance, with a lifetime maximum of $6,000. (Employees who have been with the firm for at least 6 months qualify.)

10. Adidas

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

Student Loan Repayment Assistance: Adidas North America now offers a student loan support program for its full-time employees who work at least 30 hours a week. After one year of employment, eligible employees can receive $100 per month, which could amount to $1,200 per year. This contribution rate is estimated to help reduce the length of payments for student borrowers by nearly five years. Adidas introduced this program in response to 80% of their employees indicating that student debt causes significant stress.

How Paidly Can Help Your Employer Offer Student Loan Repayment Assistance

Paidly is a product designed to enable employers to offer student loan repayment assistance as a valuable employee benefit. By using 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 provides a valuable tax benefit for both employers and employees.

If you're interested in bringing student loan repayment assistance to your workplace, consider talking to your employer about Paidly and its benefits. Paidly makes it easy for companies to set up and manage a student loan repayment assistance program just like any of the companies above, offering a valuable solution for both employees and employers.

Lead the Way in Offering Valuable Assistance

Employer student loan repayment assistance programs are an increasingly important benefit for both employees and employers. The 10 companies listed above are leading the way in offering this valuable assistance to their employees. If you're interested in bringing a similar program to your workplace, consider talking to your employer about implementing a solution like Paidly. To learn more about Paidly and how it can help your company offer employer student loan repayment assistance, contact us for a demo today or to help you get in touch with your employer.