Innovation highlights: Emerging student loan repayment assistance
Record student debt and associated borrower stress is spurring more third-party student loan repayment programs. These repayment programs are being developed by FinTech and traditional financial institutions. This report spotlights the growing number of employer-based student loan repayment programs that can save eligible employees hundreds or thousands in loan principal and interests payments, but where barriers to innovation exist. This report also features a series of recommendations to help employers and other companies that manage benefits programs ensure that borrowers receive the maximum value.