Purpose:
The recession of 2008 had a financial impact in many ways, one of the significant impacts that affected us is student debt. The government was giving less support to education, so to recoup tuition and fees increased. The fact of providing less support made student loans more popular; The tuition was already expensive in the U.S., and not many people could afford it, but many people need to get higher education to get good jobs. This circumstance made a lot of students use student loans.
Summary:
According to a study by “More Employers Offer Student Loan Repayment Benefits”, a student loan management company, 80 percent of individuals would like to work for a company that offers student loan repayment assistance with an equal opportunity, and 49 percent of those individuals would prefer student loan payment contributions over an employer-sponsored 401(k) plan. Only 3 percent of employers offer student loan aid. This information is from the Society for Human Resources Management. Especially as more millennials enter the workforce, interest in student loan repayment programs appears to be growing among employers.
Analyze:
A student loan is a program to help students have the opportunity to achieve their goals. Students can borrow what they need to succeed. Employers will loan money to the student who cannot afford
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Not decide on its price, because the company will pay the part of the tuition(price are different in each company), which means this program is also helping the parents. Another reason is it improves your credit score after you graduate, you might apply for a credit card and other kinds of loans for properties and jobs. Once the bank sees that you already have finished paying the student loan, you will have significant advantages on your credit