Often when looking into college we become worried about student debt and how we will be paying off our student debt for the rest of our lives. As time goes on colleges continue to rise in price making it increasingly difficult, if not impossible, to go to college without falling into the abyss of student debt. In fact, student debt is more detrimental than credit card debt is.
However, a select few companies in San Diego, California are giving students the opportunity to lessen their student debt. How you may ask? Companies, such as Fidelity are offering scholarships to help pay for college. This program that Fidelity has started is the Step Ahead Student Loan Assistance program. For example, for employees who’ve been with the company for up to six months are “…eligible for $2,000 a year towards their student debt loans up to $10,000. ” Another similar program that Fidelity helped launch was the Student Debt Employer Contribution benefit which launched in 2018. With these two movements, many companies are deciding to take part in this as well. 55 companies and 10,000 active participants are included in this.
I think that the solution being proposed in the article is a very good one. It allows not only for student debt to be lessened for each person who receives help, but it also provides more employees for the companies and creates a sense of trust between the company and the employee as well. The employees also are willing to stay with the company longer if they are receiving help with their student debt. Because I think this solution could work in San Diego I also think it could work all around the world for anywhere where student debt is a huge problem within the community.Tags: Judge Memorial Catholic High School