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Student loans are a challenge. Are there any employers that will help with this? Yes! Check out these 21 companies that offer student loan assistance programs!
Getting a good education is expensive, and it just keeps getting more expensive. If you’re one of the thousands of new graduates out there looking for a job, then you’re probably worried about your student loans. How can I pay for my loans? Where can I get some help? Never fear, we’re here to assist by giving you some good companies to look at that will help you with paying off your student debt.
The average US college student has over $37,000 in student loan debt.
There are over 45 million people in the US with student loan debts.
Should you look for a company that will help pay off your student debt? While this shouldn’t necessarily be your top criteria for finding a job, it’s always a good idea to get additional help paying off your loans. The most important thing is to find a job and company that you want to work for. If they offer financial assistance to pay off loans, that is a wonderful additional benefit to have!
The rest of this article will cover:
21 companies that offer assistance with student loans
Negotiation is always an option
American Family Insurance. This is a major nationwide insurance company. They have a Student Loan Assistance Program that will give employees who have graduated with an associate’s degree or above a monthly contribution of $100 for student loan repayment, with a lifetime maximum of $10,000.
Ameritas. Ameritas is another insurance provider, and they have a program called BenefitEd. They will contribute funds towards student loans as a part of their employee benefits package. Their goal is to help reduce your student loan debt and pay off your student loan faster, which will directly improve your financial wellness. Their BenefitEd program also gives you the option to save for your future education by directing employer contributions to a 529 College Savings Plan.
Carhartt. If you’re looking to work for a major clothing retailer, you can check out Carhartt. They have a student loan repayment benefit that will contribute towards the principal on an employee’s student loan or a Parent Plus loan for their dependent children. Carhartt will contribute $50 per month, up to a maximum of $10,000.
Carvana. Carvana is an online business that buys and sells cars. They offer full-time Carvana employees up to $1,000 per year to pay off student loan debt. Carvana offers this benefit in partnership with Gradifi, a company that specializes in student loan repayment.
ChowNow. If you want a position in the online business world that deals with food, then you should look at ChowNow. It’s a food ordering platform that helps customers connect with local restaurants. They will give their employees up to $1,000 per year to help pay off student loan debts.
Connelly Partners. Connelly Partners is a big advertising and marketing agency located in Boston. They have a student loan repayment program for employees that will make direct monthly contributions to student loan principals for a total of $10,000 over five years.
Crisis Text Line. For something in the non-profit area, take a look at Crisis Text Line. They are a global organization that provides a free confidential mental health texting service 24/7, every day, throughout the US, Canada, the UK, and Ireland. They offer remote positions and student loan repayment benefits.
Crossmedia. Crossmedia is a content creation and communications company that delivers communications planning, media services, and international account management with offices in New York, Philadelphia, Los Angeles, London, Düsseldorf, Hamburg, Bielefeld, and Berlin. They offer a student loan repayment program.
EverCommerce. For something in the software and e-commerce field, check out EverCommerce. They are a software development company that provides business management, payment acceptance, marketing technology, and customer engagement solutions. They have many different opportunities and offer a student loan repayment program.
Genworth Financial. Genworth Financial is a large financial services and insurance company that provides life insurance, long-term care insurance, mortgage insurance, and annuities. Their “Paying for Higher Education” programs offer employees $7,500 per year in tuition reimbursement.
GumGum. AI is big business, and GumGum is a contextual intelligence company that leverages AI to identify and analyze the full content of a page to optimize communications and advertising. If you work for the company for more than four years, then GumGum will give you $200 per month to pay your student loans until the loan is paid off.
Lockheed Martin. This is a major government contractor in the defense industry. Lockheed Martin offers full-time employees the Invest In Me program. New graduates can receive a $150 cash bonus monthly for a maximum of five years to pay off loans.
Parallon. Healthcare is always a good industry to get into. Parallon is a leading provider of healthcare revenue cycle management services. They offer their employees $50 to $100 per month to pay student loans. Parallon’s program does not have any lifetime maximums.
Peloton. Peloton is an exercise equipment and media company that sells stationary bicycles, treadmills, and indoor rowers that can stream live and on-demand fitness classes (subscription service). They offer their employees tuition reimbursement of $100 per month that can be applied to pay off loans.
Public Prep. Public Prep is a New York City non-profit organization that runs a number of tuition-free charter schools in Manhattan and the Bronx. Public Prep schools are single-gender and include pre-K, elementary, and middle schools. They have a program for employees that will pay 10% of student loan payments, up to $100 per month, and there's no lifetime cap.
RubiconMD. For a job that supports health and being virtual, look into RubiconMD. They are a virtual healthcare company that created the first eConsult platform and operates a multi-specialty care network. RubiconMD has a student loan repayment benefit for its employees. It pays up to $200 per month for paying off student loan debts.
Staples. Staples is a major US retailer that sells business supplies, equipment, and furniture. They have stores all over the country, and they will give their employees $100 per month of student loan repayment help. This benefit is available to full-time associates who have earned a degree or are working towards one.
Terminix. If you hate pests, then check out Terminix. They are one of the largest pest control companies in the world. They offer employees (full and part-time) $50 per month to pay student loans. However, they do have some qualification rules, so check the benefits for the specific job you’re applying for.
The Goddard School. For those looking for something in the field of education, look into The Goddard School. They are an early childhood education provider with over 500 schools in 37 states including Atlanta, Boston, Chicago, Houston, New York City, Philadelphia, Portland, and St. Louis. Their employees can have 20% of their monthly student loan payments covered, up to $100 monthly, with no lifetime cap.
The U.S. Government. Some U.S. federal government jobs offer to pay student loans. However, this only applies to federally backed student loans. This is not the same as the loan forgiveness program. The government agency will make payments of up to a maximum of $10,000 per employee per year, with a maximum total of not more than $60,000 for any one employee.
Weedmaps. For something that combines the cannabis and technology fields, Weedmaps may be just the ticket. They are a tech company that serves the cannabis industry and has locations in Irvine, Denver, Tucson, New York, Barcelona, and Toronto. Weedmaps has an employee program that pays up to $1,000 per year toward student loans, with monthly installments of $83.33.
Well, whether you are a new employee or looking for a promotion, you can always negotiate for education reimbursement. It may be a bit more difficult if you’re an existing employee, but it never hurts to ask.
When you’re just starting out in your career, it may be hard to know what to expect in terms of salary. We’ve got you covered. Take a look at our Salary Analyzer to help give you an idea of what to negotiate for, besides paying off those student loans!
Student loans for college are big and lots of students have them.
More companies are helping employees pay off their student debt, making it easier to find a company you like that will help.
Check their benefits carefully to ensure they offer student loan repayments, and be sure to take note of any restrictions
If a company doesn’t offer it, consider negotiating to have student loan payments as part of your compensation package.
Garland is a writer and technology consultant that lives in far west Texas, USA. He is semi-retired from a successful 25-year career in the Information Technology industry, and now spends his time writing for various websites (mostly career development related). Garland holds a bachelor’s degree in Accounting and Finance, and a master’s degree in Economics and Computer Information Systems.