With student loan debt growing to more than $1.7 trillion, employer student loan assistance programs for workers seem to be on the rise, according to Handshake.
Americans have accrued more than $1 trillion in student loan debt and millions of borrowers will see their first student loan bill this October after a three-year pause. Many are turning to different sources for help – including their employers. In fact, the share of job descriptions that mention some kind of student loan assistance on Handshake, a job search platform targeting Gen Z, has more than doubled since 2019, according to the company's latest data.
Following the Supreme Court's decision to strike down Biden’s plan to forgive up to $20,000 in student loan debt for millions of borrowers, the administration claimed it would continue pursuing forgiveness. "The Secretary of Education initiated a rulemaking process aimed at opening an alternative path to debt relief for as many working and middle-class borrowers as possible, using the Secretary’s authority under the Higher Education Act," the White House said in a statement.
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