Student Loan Repayment as an Employee Benefit May Be the Way of the Future, Says ABFC

Thinking About The Future

People pick a company to work for as much as they pick a job, so more businesses have to think of how to entice potential employees to their doors. As student loans become more of a fixation in borrowers' lives, that may mean more companies will start offering assistance with them. American Financial Benefits Center (AFBC), a document preparation service company that has worked with thousands of clients in helping them apply for federal repayment programs, wonders if this kind of benefit may be on the rise and might effectively help fight the student loan crisis.

“Sign-on bonuses can be really persuasive when it comes to picking between jobs, especially if it is something like help with student loan repayment,” said Sara Molina, manager at AFBC. Only about four percent currently offer student loan repayment benefits, which means there is lots of room for potential growth - and potential competition. But for now, the numbers are low and for those few employees receiving this benefit, it is likely relieving a lot of stress.

However, some people might think that these benefits shouldn’t be there at all. Is it right for companies to offer such benefits when borrowers are the ones who took out the loans in the first place? Or maybe they might think the government should be the one helping, not an employer. All things in life will be debated, especially as they become more popular like these student loan repayment benefits seem to be becoming. AFBC feels that borrowers shouldn’t have to struggle with student loan repayment and has assisted qualified borrowers apply for federal income-driven repayment plans. Those payment plans have helped many borrowers receive lowered monthly payments and get on track for student loan forgiveness after 20-25 years of remaining in the particular plan. “AFBC has helped clients through the application process and continues to help them through the yearly recertification process because we believe in helping our clients achieve financial wellness in the ways that we can,” said Molina.

Sign-on bonuses can be really persuasive when it comes to picking between jobs, especially if it is something like help with student loan repayment.

Sara Molina

Manager at AFBC

About American Financial Benefits Center

American Financial Benefits Center is a document preparation company that helps clients apply for federal student loan repayment plans that fit their personal financial and student loan situation. Through its strict customer service guidelines, the company strives for the highest levels of honesty and integrity.

Each AFBC telephone representative has received the Certified Student Loan Professional certification through the International Association of Professional Debt Arbitrators (IAPDA).

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Contact

To learn more about American Financial Benefits Center, please contact:

American Financial Benefits Center
1900 Powell Street #600
​Emeryville, CA 94608
1-800-488-1490
​info@afbcenter.com

Source: American Financial Benefits Center


Categories: Financial News, Financing and Student Loans

Tags: employee benefits, income-driven repayment, signing bonus, student debt, student loan repayment, student loans


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About American Financial Benefits Center

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American Financial Benefits Center works to align each client with the different U.S Department of Education programs available to them based on their income and occupational situation.

American Financial Benefits Center
1900 Powell Street (600)
Emeryville, CA 94608
United States