In the U.S., the outstanding balance is $1.75 trillion in student loan debt. Approximately 55% of students from public four-year universities have student loans, with a balance of $37,338 owed per borrower. Beginning in October, workers nationwide will need to resume payments on their student loans for the first time since March 2020. The pandemic-related pause on both payments and interest accumulation that is ending is a stressor for employees who are increasingly seeking financial assistance from their employers.
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Financial Aid: Helping Your Employees With Their Student Loan Debt