More and more employers are offering to help repay theirworkers' student loans as another benefit to attract andretain talent, but loan servicers' legacy payment processingsystems and other technical issues are stymieing efforts, accordingto the Consumer Finance Protection Bureau's report, “Innovationhighlights: Emerging student loan repayment assistanceprograms.”

Private-sector employers are joining many state and localgovernments, as well as nonprofits, to help more workers repay their student debt,according to the bureau's report. Employers are offering this helpas a benefit, much like helping with 401(k) contributions, and areeither paying loan servicing companies directly or throughemployer-sponsored third-party repayment assistance programs.

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Katie Kuehner-Hebert

Katie Kuehner-Hebert is a freelance writer based in Running Springs, Calif. She has more than three decades of journalism experience, with particular expertise in employee benefits and other human resource topics.