Paying off your student loans may not be a priority for you. After all, it is a long-term loan that doesn’t have a massive effect on your monthly income. Yet, people who are able to pay off their student loans quicker are also able to start building wealth sooner. Any form of passive help paying your student loans is welcome, and a convenient helper is your employer. Here are fourteen companies that will pay for your student loans while you work for them.
Why Would Employers Want You To Repay Your Student Loans?
The best reason why companies help pay their employee’s student loans is because it is a perk of the job that helps attract people who have been to college, and it helps keep them in their jobs while they pay off their student loans.
Another (seemingly faulty) reason why employers may wish to help is because their employees will have more money in their pockets each month if they have paid off their student loans. More money in their pockets may mean they are less likely to demand a raise, but that notion is faulty because people adjust very quickly to having extra cash, and it is not long before they are demanding more.
They make a great PC but a not-so-hot mobile phone. They work with Sofi, which is a student loan refinancing company. If you are a Microsoft employee, you are entitled to a lower student loan refinancing rate. Your interest rate will be lowered if you are a Microsoft employee.
Based in Wisconsin, they make retail merchandise and apparel, and their employees receive $100 per month for up to six years for their student loans. They give you up to $1200 per year for six years, which is not too shabby.
Each employee may put an extra $500 per year towards his or her student loans. Kronos is a workforce management company and a software company based in Massachusetts. The $500 they pay per year is just a token sum to say that they care about their employees and their student loan debts.
4. Moonlight Bunny Ranch
This is a legal brothel in Nevada that offers a lucrative student loan repayment offer of all the companies on this list. They will match the student loan payments that their workers make for two months up to the amount that the worker makes in a month, which is typically more than $3000 per week. If a worker were to pay all of her wages into her student loan for two months, she would pay off around $20,000 from her student debt, and the Moonlight Bunny Ranch would match that amount. That is potentially $40,000 knocked off your student loans in just two months.
5. Fidelity Investments
If you work for them for six months, you may join their Fidelity’s Step Ahead Student Loan Assistance Program. For five years, they will give you $2,000 per year until you have had a full $10,000 to put onto your student loans.
6. Pricewaterhouse Coopers
They are a global consulting company and an accountancy company and they will pay you an extra $7200 if you have student loans outstanding. They pay you $100 per month for up to six years, but the payment stops if you reach a managerial level.
7. Natixis Global Asset Management
This is an asset management firm, and they give people something towards their student loans. If you work for the company for five years, then they will start contributing to your student loans. After you have been their five years, you are able to earn an extra $1000 per year to put onto your student loans, and you may take advantage for ten years.
8. Credit Suisse
Sofi is a company that allows students to refinance their student loans to take advantage of possibly lower interest rates. Credit Suisse has partnered with them to give away a 0.25% discount on the interest rates they receive when they refinance. It doesn’t sound like much, but some students are able to save thousands because of it.
They offer tutoring, test preparation and e-textbooks. They offer $1000 per year for any employee with any type of student loan (within reason). They will help you repay private student loans and federal student loans.
10. Common Bond
If you work for Common Bond, you receive a whopping $100 per month for your outstanding student loans. There is no cap on the contributions. If you have your student loans for 15 years while you work for them, then they will pay you $100 every month for 15 years, which comes to $18,000.
This is a company that offers online ordering for food, and they market restaurants. Each employee is able to earn $1000 per year to put towards his or her student loans. The company is part of a new and growing industry, and they feel that they need to attract more college graduates to stay on top of their competition.
12. Martin Health Systems
Based in Florida, this company offers $2000 per year to their nursing employees. The money is to be put towards the student loans that the nurses still have.
In this article, you will notice that Sofi have partnered with other companies to offer employee perks. Sofi are a student loan refinancing company, and they offer their employees $200 per month to pay off their student loans. There is no cap on the amount you receive, so you keep receiving student loan money for as long as your debts exist.
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This is actually a student loan services provider that works in California. They may only be a small company, but they offer $200 per month to help pay off your student debts. There are very few companies that offer student loan repayments, so get a job with one of the fourteen companies listed here if you are able.