28 Companies That Will Pay Back Your Student Loans If You Work There
If student loans and searching for a job stress you out, then we have amazing news for you: there are companies out there that will actually help you pay back your college debt. Offered alongside health insurance, retirement accounts, paid time off and more, this employee benefit tops them all. Consider these companies with student loan repayment benefits if you’re currently searching for a job and you may be able to decrease your college debt way faster than you imagined.
Full-time employees at Aetna enjoy up to $2,000 per year toward their student loans, with a maximum of up to $10,000 during their time at the company. Part-time employees receive up to $1,000 per year, with a maximum of up to $5,000 over the course of their employment. Payments are made directly to the student loan provider, and employees must have graduated from an accredited United States institution within three years of applying for the benefit. The benefit can be used for both undergraduate and graduate school student loans.
Similar to Aetna, Fidelity’s student loans repayment benefit provides employees with up to $2,000 per year, with a maximum of up to $10,000 over the course of five years. Employees must be with the company for at least six months in order to qualify for the benefit.
3. Penguin Random House
Employees who have been with Penguin Random House for more than one year qualify for the company’s student loans repayment benefit and can receive up to $1,200 per year. The benefit, which is provided by Gradifi, is paid directly toward the principal balance and maxes out at $9,000, which is equal to seven and a half years at the company.
Only select employees may qualify for the student loans repayment benefit at Staples. However, those who do qualify can receive up to $100 per month for up to three years, which is a total of $3,600. The money is paid to the principal balance of the student loan.
5. PricewaterhouseCoopers (PwC)
Participating associates and senior associates at PwC can receive up to $1,200 per year toward a student loan. Provided by Gradifi, the benefit maxes out at $7,200 but could reduce the interest and principal by as much as $10,000 over time.
6. First Republic
First Republic offers a tiered student loan repayment benefit. Employees can receive up to $1,200 during their first year at the company, up to $1,800 during their second and then $2,400 every year thereafter. There’s no maximum on the amount, either, which means employees — both full-time and part-time — can really make a dent in their debt. Even better, employees who have taken loans out on behalf of their children also qualify.
Chegg’s College Loan Reduction Plan benefit offers employees up to $1,000 per year to help pay off their student loans. And there’s no maximum on the amount that the company offers employees, according to Forbes.
8. Live Nation
Employees at Live Nation can receive up to $100 per month, or $1,200 per year, toward their student loan debt. The benefit maxes out at $6,000. All employees who have worked at the company for at least six months qualify for the benefit.
Full- and part-time Nvidia employees who have worked at the company for at least three months and who graduated within the last three years can receive up to $6,000 per year, or $500 per month, toward their student loan debt. The benefit maxes out at $30,000 and payments are made directly to the student loan provider.
Abbott’s student loan repayment benefit is slightly different than the others on this list. The health care company provides a 5 percent match to an employees 401(k) when they contribute 2 percent of their paycheck to their student loans. The company’s Freedom 2 Save Plan helps employees focus on paying down their debt while also saving for retirement.
CommonBond employees can receive up to $100 per month, or $1,200 per year, toward their student loan debt. The benefit never maxes out, which means employees can enjoy the benefit until they pay off all of their student loan debt or leave the company.
In 2015, restaurant company ChowNow announced that it would contribute up to $500 per year to its employees student loan debt. According to Student Loan Hero, the company has said it plans to increase that amount to $1,000 per year.
Eligible Sotheby’s U.S.-based employees who make monthly student loan payments can also receive up to $150 per month toward their college debt, or about $1,800 per year. The repayment benefit doesn’t max out as long as the employee stays eligible and employed by the company.
SoFi employees can receive up to $200 per month toward their student loan debt, with no yearly maximum.
Also provided through Gradifi, Powertex offers its employees up to $100 per month toward their student loan debt. The repayment benefit maxes out at $7,200, or at the end of six years.
16. Natixis Global Asset Management
All Natixis employees can receive up to $1,000 per year toward their federal and private student loans. Paid directly toward the principal to the student loan provider, the maximum benefit offered is $10,000 over 10 years or until the employee leaves the company.
17. Freddie Mac
Eligible employees at Freddie Mac can receive up to $9,000 over the course of five years to help pay down their student loans. That’s about $1,800 per year, or about $150 per month.
18. Estee Lauder
Estee Lauder employees can receive up to $100 per month, equal to about $1,200 per year, toward their student loan debt. The repayment benefit maxes out at $10,000.
19. Andersen Tax
The student loan repayment benefit at Anderston Tax offers employees up to a maximum of $12,000 toward their student loan debt. Employees first receive up $100 per month toward their loans for the first 60 months. At the end of that five-year period, employees can then receive a lump sum payment of $6,000.
According to ValuePenguin, eligible full-time employees can receive up to $1,000 per year toward their student loan debt. There’s no maximum amount stated at this time.
21. Guild Education
Employees at Guild Education receive student loan repayment benefits on a monthly basis. The start-up company offers employees up to $100 per month with no maximum.
Kronos employees can receive up to $500 per year toward their student loans, with no maximum. The benefit is offered for as long as the employee is with the company.
23. Connelly Partners
Through Gradifi, Connelly Partners will match up to $100 per month in student loan payments. Even better, the agency gives new employees a $1,000 signing bonus to be used toward their student loans and then another $1,000 bonus when they hit their five-year anniversary with the company.
24. Hoge Fenton
California law firm Hoge Fenton also partners with Gradifi to offer associates a student loan repayment benefit every month. However, the exact amount they offered is not publicly disclosed.
25. The Options Clearing Corporation
The Options Clearing Corporation offers employees a Student Debt Contribution Program, though the exact details of the benefit are not publicly disclosed.
26. New York Air Brake
Eligible employees of New York Air Brake can receive a monthly student loan repayment benefit. According to CNBC, New York Air Brake has paid $166 per month to one employee. However, the details of the benefit such as the maximum amount are not publicly disclosed.
27. Fareway Stores
Full-time employees can receive up to $100 per month toward their student loan debt. The repayment benefit maxes out at $5,000. About 3,000 Fareway employees qualify to receive the benefit, which is paid directly to the student loan provider.
Peloton employees can receive up to $100 per month toward their student loan debt. Other details of the benefit have not been publicly disclosed.
Are you working at a company that offers a student loans repayment benefit? Email us at [email protected] so we can add them to our list.