Here’s how quickly you are able to spend your student loan off with assistance from your employer
Posted: Mar 3, 2016 5:16 a.m. ET
Companies are increasingly seeking to attract talented college graduates strained by student education loans with provides of make it possible to repay their financial obligation. It is the perk that is new a benefit or simply just companies providing lip solution towards the woes of 20-somethings?
It seems that most of the time, getting the employer help repay student education loans can can even make a dent within the time and investment property repaying your debt. If a boss provides an employee $10,000 in loan help distribute call at monthly obligations over 5 years, the worker could shave 3 years from the time it can take to cover down her loans, presuming she’s $29,400 in financial obligation — the typical for a bachelor’s level receiver in 2012 — and it is spending the mortgage down on a 10 12 months plan, the conventional repayment term for a federal loan, in accordance with an analysis released Wednesday by individual finance web web site, NerdWallet.
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