Core Insights - The article highlights the increasing trend of employers offering student loan repayment benefits, with 14% of employers providing such programs in 2024, a significant rise from just 4% in 2019 [1][2]. Employer Benefits - Major companies are providing substantial student loan repayment stipends, with examples including Aetna ($2,000 per year), Ally Financial ($1,200 per year), and SoFi ($5,250 per year) [5]. - The IRS limits employer contributions toward employee student loans to a maximum of $5,250 per year, which can help employees manage their debt more effectively [6]. Employee Behavior - Some employees, like John's wife, may choose to retain their student loans to benefit from employer stipends, viewing it as "free money" despite the potential long-term costs [2][6]. - The average student loan debt in the U.S. is $42,673, contributing to a total national student debt of $1.814 trillion [5]. Financial Considerations - Employees are encouraged to evaluate whether the benefits of employer-sponsored repayment programs outweigh the costs of carrying student debt longer [7]. - Interest rates for federal student loans range from 6.39% to 8.94%, while private loans can vary significantly, making it crucial for employees to prioritize debt repayment based on interest rates [9]. Mental Health Impact - Student loan repayment is a significant source of stress for many workers, with 13% indicating it as their primary financial concern [10].