Student loan debt is at an all-time high at around $1.3 trillion. The average American is stuck with a monthly student loan payment of $393; more than a car payment in some cases.
To combat this, companies are starting to offer student loan repayment as a benefit. However, it’s not exactly a common offering…yet.
Debt Bennies is an online employer directory that only lists companies who offer student loan repayment as a benefit.
“By offering [student loan repayment], many have noticed improvements in employee morale, productivity, and retention.” Dexter Ferguson, founder and designer of Debt Bennies, tells me.
His hope is that more employers will start to offer this benefit to employees. Ideally, Debt Bennies will show employers that repayment programs are a big draw for talented employees to come
From the looks of it, job sites like Monster, Indeed, and even Glassdoor don’t seem to offer a feature that filters by employers who offer repayment assistance. Although it’s possible that it’s something that could be added in the future, right now Debt Bennies is the best option.
Current employers on the site include Chegg, Aetna, Carvana, Hulu, and Abbott among a few others. So far, Debt Bennies is off to a good start.
In the future, it’d be great if Debt Bennies became the first (and possibly only) stop on the hunt for a job. Until there are more practical solutions, working for an employer who has the financial means to help pay down loans is the best option.