In the United States, student loan debt is a growing problem, with women and minorities carrying the heaviest burden. Many start their educational journeys off at a financial disadvantage and often rely on loans to help finance their college education. These groups are influencing the world in more groundbreaking ways than ever before, while still facing income disparities, which can make the burden of student loans even more challenging.
Employers now have the unique opportunity to help their workforce by offering meaningful benefits and stand out from their competitors. Offering a student loan repayment benefit will allow employers to attract and retain diverse talent, and the benefits of implementing a program like this have proven successful.
Here is a closer look at the current challenges that diverse groups face when it comes to their student loans—and how employers can help.