Student federal loan repaymentsand interest on that debthave been paused during the pandemic, thanks to federal COVID-19 relief legislation. As of October 2021, however, some 44 million borrowers who owe an estimated $1.7 trillion will have to start repaying debt that has grown exponentially over the past decade and a half.
Many are ill-prepared to do so. That massive debt is causing consternation and concern not only for those who owe the money, but for their employers as well.
Employers recognize the emotional toll that employee debt can cause. That stress affects their mental health and their work performanceand organizational productivity.
For many students, the pandemicand the switch to remote learningdid not reduce tuition costs. …
Read the full article at: https://www.shrm.org/resourcesandtools/hr-topics/benefits/pages/employers-student-loan-assistance-tackles-the-college-debt-crisis.aspx
