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Nearly one-third of candidates have encountered employers offering student loan benefits

December 06, 2018 / Riia O'Donnell

Americans hold an estimated $1.4 trillion in student debt, and employers are responding to demand for relief on the part of workers, according to B2B research and ratings firm Clutch. In a survey of 507 full-time employees who started a new job in the past 6 months, Clutch found 31% of candidates had encountered companies that offered some level of student-loan repayment benefits during their job search. Only 4% to 5% of U.S. companies currently offer student-loan repayment assistance, Clutch said, but the benefit may become a differentiator in recruiting. Research cited by the company suggests women, minorities and other underrepresented groups are impacted by student-loan debt disproportionately. Due to the disproportionate impact of student-loan debt, companies looking to improve their diversity and inclusion efforts could utilize repayment benefits to attract a wider talent pool, Clutch said. And because debt repayment can take years to fulfill, it said, businesses could also see h...