Fidelity Helps Employees With Student Loans
Fidelity Investments has joined a small but growing group of employers who help workers pay off their student loan debt. The financial services company formally announced this new employee benefit on Tuesday. This is his newly expanded maternity and paternity leave program.
The Fidelity Step ofhead Student Loan Assistance program, as it is officially called, grants $ 2,000 to student loans for eligible employees each year, up to a total of $ 10,000. According to Tuesday’s announcement, the benefit is paid through an external provider, Tuition.io. Payment will be made in monthly installments sent to student loan providers of employees.
Fidelity Has An Employee Assistance Program
The assistance program also gives employees access to various online tools. Which are intended to help you better manage your student loan debt. This according to the “Work / Life Programs” page of Fidelity.
Jennifer Hanson, director of associate experience and benefits at Fidelity, said in a press release that the US student loan debt now amounts to more than $ 1 billion. She continues explaining:
“Our employees and their managers told us that student loan debt caused them problems. For example, he forced them to postpone important life decisions, such as buying a house and having a child. As a financial services company, this was really worrying for us. We believe that providing a benefit such as student loan repayment assistance is favorable. This helps us address a very real financial concern that directly affects our employees. ”
What does the Fidelity Program really consist of?
The program is open to employees who have been at work for at least six months and is not linked to retention. That means that employees do not have to return the money to Fidelity if they leave the company.
It was launched in January and almost 5,000 employees began receiving the benefit in the first weeks of the program.
Fidelity also announced the expansion of two other benefits: The paid maternity leave has been increased from six weeks to 16 weeks, which provides benefits to all mothers during the first months of giving birth. The parental leave has been extended from two weeks to six weeks, also providing countless benefits.
What do you think of this news? Do you think that employee benefits, such as the Fidelity student loan assistance program, can affect the burden of students’ national debt? The opinion of people is very important for these companies. This is why you can express your comment through any of their social networks and let them know what you think. Remember that the customer is the most important thing for companies.