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Kahn, Berman, Solomon Taibel & Mogol, P.A.
307 International Circle, Suite 620
Hunt Valley, MD 21030-1487
Phone: 410-308-0300
Fax: 410-308-0303
Email: info@kbstm.com
Website: www.kbstm.com
This is the time of year when businesses roll out new employee benefits and fine-tune existing ones as part of open enrollment. One of the most popular benefits involves student loan repayment for employees. Here’s what you need to know about it.
These loan repayment benefits are gaining a lot of interest from Millennials – your employees and job applicants. When unemployment is near an all-time low and competition for the best talent is high, it makes sense to explore the possibility of adding this repayment benefit.
The plan sponsor may also offer advice to employees to help them pay off their loans more quickly and to those contemplating loans for college-age children. Some may even provide referrals to student loan refinancers, who may offer lower interest rates on existing debt.
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