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Student Loan Assistance as a Benefit

November 6, 2019

Podcast image of Kelly Loudermilk.

Inside Forbes Councils Episode 50: Student Loan Assistance as a Benefit

Featuring: Kelly Loudermilk, Forbes Human Resources Council

Forbes Councils member Kelly Loudermilk of BuildHR explains how offering support for student loans may help a company stand out as an employer of choice.

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Key Takeaways

  • It is estimated that 44.7 million Americans have student loan debt, totaling some $1.5 trillion dollars. The average monthly payment is $383
  • For recent graduates, the burden of student loan payments may prevent savings and increase stress
  • Platforms such as Gradifi and loangifting.com may provide a way for employers to assist hires with student loan payments
  • By assisting with student loan payments, companies can stand out as an employer of choice

Additional Resources

How Employers Can Be the New Champions in Tackling Educational Debt by Jenny Brandemuehl

13 Employment Perks Businesses Aren’t Offering, But Should Be by Forbes Human Resources Council Expert Panel

10 Important Things HR Experts Want Employers to Know About Employee Benefits by Forbes Human Resources Council Expert Panel

Personalized, Humanized Benefits: The Key To Keeping Top Talent by Vivian Maza

Tweetable Insights

"If you’re able to help with [student loan payments], not only will you stand out as an employer of choice, but it really showcases your overall wellness initiative and the impact and the caring that you have for your employees." — @yourHRsource

Featured Member

Talent Innovator and a disruptor of the status-quo, Kelly Loudermilk, has been transforming HR for 10 years as an HR Consultant & HR Department of One. She works with executives and managers to change the way Talent is defined, recruited, and developed. She has a Masters of Science in Employment and Labor Law, is part of SHRM National, SHRM MileHigh, Association for Talent Development, along with SCORE Mentoring for Small Business Owners, and is SHRM-SCP and Talent Optimization Certified.

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