The share of employers offering student loan repayment benefits is climbing as companies hope to gain a competitive advantage in recruiting younger workers in a still-tight labor market.
The share of full-time job listings mentioning student debt repayment programs has more than doubled since 2019, according to an analysis by job site Handshake. The benefit, though, is still relatively rare: It shows up in only 3% of job posts.
Christine Cruzvergara, Handshake's chief education strategy officer, expects to see more employers start offering the benefit in the next year or two as student loan payments worth about $1.5 trillion resume for some 28 million US borrowers. The monthly payments are starting up following a three-year pandemic hiatus.
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