Baby Boomers Increasingly Interested in Student Loan Benefits
You've probably seen the headline.
It’s been making its way through multiple industry trade journals over the past week.
Not surprising to me.
Millennials make up the largest portion of student loan debt holders (67% of 44 Million).
But the fastest growing segment of loan holders are older…why?
Sure there is a portion going back to school themselves, but the majority are parents and grandparents taking out loans for their kids.
So the eligible population of employees that a student loan employee benefit can help is bigger than you may think.
But an employer-funded repayment assistance plan can only help employees with loans themselves.
Our StuLo benefit offers an even greater reach as it can be extended to grandparents, parents, and children of employees. Not just employees.
On average, we’ve help loan holders to reduce their monthly payments by $343. That's more meaningful than an employer contributing $100 or $200 a month (of taxable income) toward an employee’s loan under a repayment assistance plan.
AND StuLo is available at little or no cost to the employer.
Plus we have other financial wellness benefits for ALL employees who don’t hold student loan debt.
StuLo's wholistic approach to financial benefits helps to mitigate concerns of discrimination and/or employee fairness issues.
StuLo offers voluntary and low-cost options for your employer and association group clients.To learn more about StuLo or to request a client proposal, please visit our website , email us, or call us today at 602.888.8144.
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StuLo is an affordable benefit solution that is focused on financial wellness, student loan debt relief and credit repair services that is designed to help employees and association members. StuLo is easy to implement because it has a voluntary option that requires no cost and no administration. To learn more, visit https://StuLoWellness.com.