The Ultimate Guide to Companies That Pay Off Student Loans
In the land of student loans, there are no more glorious words than "paid off." There are plenty of ways to pay off your loans faster, but one of the best ways is probably to have someone else help you do it.
Fortunately, dozens of companies have taken an important step to help employees pay off student loan debt by contributing money toward their loan balances. Here are 53 companies to check out if you're job hunting.
If that's something you want to get in on, you've come to the right place. (Can you guess which of these companies pays up to $30,000 ? We'll give you a hint: It's in the tech industry.)
53 companies that offer student loan repayment
Aetna is a well-known health insurance company. It matches full-time employee's student loan payments up to $2,000 a year, with a total cap of $10,000. Part-time employees receive $1,000 a year, with a cap of $5,000
Allosource is an organization that advances the use of transplantable allogeneic cells and tissue. It offers employees a monthly contribution toward student loans.
3. Alternatives ABA, Inc.
Alternatives ABA is a non-profit children's health care center in Massachusetts. The organization offers its employees a monthly contribution toward their student loans.
4. Andersen Tax
Andersen Tax is an international association of independent tax firms. The company provides any regular, full-time employee $100 per month for 60 months with a $6,000 lump-sum trailer at the end of the five-year period, or a total of $12,000, toward their student loan debt.
5. Bellco Credit Union
A Denver-based credit union, Bellco works with student loan repayment program facilitator Gradifi to provide its employees loan contributions that let them pay their student loans off more quickly.
6. Blach Construction Company
Blach Construction is a commercial builder and construction manager in California. The company has been providing a student loan repayment program to its employees since 2017.
Calabrio is a contact center technology provider. Since starting their student loan repayment program, they've helped employees save more than $233,000 and accelerate their payments by a total of 26,120 days.
Carhartt is a Michigan-based global workwear company. It provides student loan repayment benefits to eligible full- and part-time employees. Staffers receive $50 per month toward their student loans, with a lifetime maximum of $10,000.
An e-commerce platform for buying used cars, Carvana offers its employees up to $1,000 a year to pay off their student loans. The company estimates that an employee who borrowed the average amount for a bachelor's degree would get out of debt three years faster by using their program.
Chegg is an education services company based in California. It provides a program to its employees called the College Loan Reduction Plan. Eligible employees receive $1000 annually to help repay their student loan debt.
11. Children's Hospital & Medical Center
Children's Hospital & Medical Center, in Omaha, Nebraska, offers full-time employees who've been with the company for at least six months the opportunity to participate in their tuition loan reimbursement program. The company provides up to $10,000 over 5 years.
ChowNow is an online food ordering company. Along with a 401(k) plan and unlimited cold brew coffee, the company provides up to $1,000 a year toward student loans for their employees.
13. City of Memphis
The City of Memphis isn't a company, but they do employ over 6500 people and were the first city to roll out a student loan repayment program. The City provides up $50 per month toward the principal on their employees' student loan balances.
CommonBond provides private student loan refinancing to borrowers around the country. It also provides student loan reimbursement to the employees in its New York office so they can get rid of their debt more quickly.
15. Connelly Partners
Connelly Partners is a Boston-based ad agency. It provides a student loan repayment program where employees make payments out of each paycheck, and the agency adds monthly contributions towards their principals. The company believes the program can potentially shave at least three years off a typical 10-year payment plan for its employees.
16. Coupa Software
Coupa Software is a business spend management company. As part of their loan repayment program, employees receive monthly contributions to help pay down the principal of their student loans. The benefit also extends to Parent PLUS loans and applies to the student loans of employees’ spouses and domestic partners.
17. Credit Suisse
Credit Suisse, a financial services company, partnered with SoFi to provide its employees an additional 0.25% interest rate reduction when they refinance with the private lender. While not exactly a repayment program, the lower interest rate could certainly speed up loan repayment for a lot of borrowers.
18. Crew Carwash
Crew Carwash is an Indiana-based carwash organization provides its employees $1200 per year toward student loans, paid directly to the lender. The company also offers tuition assistance and has been honored as a "Top Small Workplace" by The Wall Street Journal.
19. Estee Lauder
Estee Lauder, the international beauty conglomerate, provides employees up to $10,000 in contributions to their student loan repayments. Eligible employees receive $100 a month to pay down their loans.
20. Everest Global Services Inc.
Everest is a global insurance and reinsurance organization. The company offers its employees a student loan contribution program, providing funds to help pay down their student debt more quickly.
21. FHLBank Topeka
FHLBank Topeka provides loans and banking services to member institutions offering home loans to consumers. The company also provides contributions toward its employees' student loan debt.
22. Fidelity Investments
Fidelity Investments, a financial services company, not only provides a student loan repayment program to its employees. It also administers programs for over 25 other companies. More than 8900 Fidelity employees have benefited from program, with up to $2,000 annually and $10,000 in total funds paid directly to the lenders of eligible employees.
23. First Republic
First Republic Bank provides a full suite of education benefits to its employees, including tuition reimbursement, 529 college savings plans, and a student loan repayment program.
24. Freddie Mac
Freddie Mac is a mortgage loan company. It provides up to $9,000 over a five year period to eligible employees paying off their student loans.
Gradifi is one of the leading administrators of student loan repayment programs. The company also provided student loan repayment assistance to its own employees.
26. Hewlett Packard Enterprise
Hewlett Packard Enterprise offers technology and enterprise products worldwide. Their employees are eligible to receive contributions to their student loans so they can may them off more quickly.
Honeywell is an appliance manufacturer. The company rolled out a student loan repayment pilot program in its Atlanta office in 2017. The program is available to approximately 120 employees and provides up to $150 per month toward student loans, with a cap of $10,000.
Your favorite entertainment platform now offers its employees additional education benefits. Through its student loan repayment program, Hulu provides employees up to $1200 a year to repay their student loan debt.
IntegriChain provides commercial analytics for innovative bio/pharma manufacturers. The company also provides a student loan contribution to its employees so they can pay down their loans faster.
A software company headquartered in Massachusetts, Kronos prides itself on providing high-quality benefits to its employees, including a student loan repayment program. The company provides $500 per year until the employee's loans are paid off.
LABUR is a Boston-based staffing company. They've partnered with Gradifi to provide a student loan repayment program to their employees.
32. Live Nation Entertainment
Live Nation is a national concert promoter and ticket seller that employees nearly 9,000 employees. For those who've been with the company more than six months, the firm matches employee contributions — up to $100 per month, with a cap of $6,000 in total.
33. Memorial Hermann Health System
The Houston hospital system provides a student loan repayment program for employees who earned their degree within the three years prior to their employment.
34. MidWestOne Bank
MidWestOne Bank, located in Iowa City, Iowa, offers its full-time employees up to $100 a month to pay down their student loans. There is a $10,000 cap, and the employee must have worked for the company for at least four years to participate.
35. Millennium Trust Company
Millennium Trust provides specialized custody solutions for a range of investment and asset accounts. They provide student debt contributions directly to lenders to help employees may off their debt faster.
Motus, a Boston-based technology company specializing in employee reimbursement software, was an early adopter of student loan benefits. They've been offering a student loan repayment program for employees since 2014.
37. Natixis Global Asset Management
A corporate investment firm, Natixis provides $1,000 per year to employees with federal or private student loans, capping the benefit at $10,000 over a 10-year period.
38. New York Air Brake
New York Air Brake provides innovative control systems for the railroad industry. They provide employees student loan repayment benefits to help them pay off their debt faster.
NoTime2Chill is a basketball training academy located in Suisun City, California. The company began offering a student loan repayment program to its employees in 2017.
A technology company based in Santa Clara, California and specializing in gaming and artificial intelligence, Nvidia provides its employees up to $6,000 a year to help pay off their student loans, with a cap set at a whopping $30,000!
41. Options Clearing Corporation
Options Clearing Corporation is a the world's largest equity derivatives clearinghouse. Options Clearing began providing student loan benefits to is employees in 2018 through a Student Debt Contribution Program.
42. Orrick, Herrington & Sutcliffe
San Francisco-based law firm Orrick, Herrington & Sutcliffe provides $100 a month to new lawyers to pay their eligible student loans. The benefit lasts for up to 18 months.
Peloton is a fitness start-up that creates exercise bikes that stream live cycling classes. The company offers its 900 employees the opportunity to receive up to $100 a month toward their student loans.
44. Penguin Random House
Penguin was the first book publishing company to offer its employees student loan repayment in 2017. The company offers up to $1200 a year to full-time employees that have been with the company for at least a year. The benefit caps at $9,000.
45. Powertex Group
A Wisconsin-based promotional products designer, Powertex offers its employees up to $100 a month toward their student loans for up to six years.
PwC is an international professional services company that provides audit, tax, and consulting services. PwC provides its employees up to $1200 a year to put toward their student loans, with a cap of $10,000.
47. ReadCoor, Inc.
ReadCoor, based in Cambridge, MA, is a biotechnology company with a focus on panomic spatial sequencing. The company provides funds to help employees more quickly reduce their student loan debt.
48. Regal Credit Management
Regal Credit Management specializes in credit protection and management. The company provides employees up to $100 per month toward their student loan payments.
49. Sebak and Monner Associates
Sebak & Monner Associates is a New Jersey accounting firm. They offer employees up to $100 per month toward student loan payments.
One of the first private companies dedicated to refinancing student loans, SoFi helps its own employees pay down their debt faster by providing up to $200 a month toward student loan payments.
Staples, the large national office supplies retailer, provides its employees up to $3600 — $100 a month over 3 years — to pay down their student loans.
52. TeamLogic IT
TeamLogic IT is a full-service technology advising company. They provide a Student Loan Repayment Program to employees that helps them pay down their loans more quickly.
53. Vi Senior Living
Vi Senior Living operates senior care facilities across the United States. In 2018, the company began providing student loan repayment funds to its eligible nursing staff to help them pay down their loans more quickly.
Another way to increase your cashflow
Whether you're one of the lucky few getting help from their employer or not, refinancing is one of the best ways to reduce your monthly payments and lower the amount you pay over the life of the loan. Find out how much you could save by refinancing your student loans.