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Repayment options offered by more employers, ABC reports
By Peggy Stillwell on Sep 9th, 2010
A press release distributed by New York Attorney General Andrew Cuomo's office last week cited the average college student graduates with $20,000 of education loan debt. Even for those who are lucky enough to land a steady job, paying off student loans can take years.
Many companies are now offering their employees repayment options to relieve the pressure, ABC-13 in Las Vegas, Nevada, reports. Law school graduates and public workers are typically offered loan repayment assistance programs or forgiveness options by their employers. Businesses are also now beginning to adopt tuition reimbursement plans for employees that choose to receive a higher education while working.
For recent graduates still looking to land a job, the news provider recommends scoping out ads that offer hiring bonuses. These can temporarily help relieve a large amount of the loan debt. Workers are also encouraged to consult their employers about their health care options. Some providers may offer a health savings account, which are pre-tax and reduce the amount taken out for healthcare in every paycheck.
Recent graduates struggling with debt can consider consolidation as well. By taking out a loan with a smaller interest rate, borrowers can lower their monthly payments.
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