Employee Benefits

Student Loan Debts Put Life on Hold for Millions of Americans

Two females talking about student loan debt and how it puts life on hold.

People with student loans continuously feel stressed and anxious. Often, the monthly payment amount is more than they expected.

Nearly 85% of people with student loans say the debt is the biggest stress in their lives. Medical experts say that stress can cause people to feel frustrated, anxious, unfocused, and irritable.

One way employers can assist employees with student loans is to provide a non-taxable benefit, designated by the new CARES Act, of up to $5,250 before Dec. 31, 2020.

For more information on student loan debt, please view this article.

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