Student Loan Debt: Perspectives on the Challenges & Solutions;

How helping your employees can also help your company

Guest: Tony Aguilar

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Thanks to my parents diligently setting aside money in savings bonds and my decision to attend an in-state school I was very fortunate to graduate from college nearly twenty years ago without the burden of student loan debt to repay.  However, for many people over the years and especially today, that is not the case. My guest, Tony Aguilar, the co-founder and CEO of Student Loan Genius does a great job of laying out the realities and challenges for many of your employees who have student debt. What you might be surprised to hear is that nearly half of your workforce could be impacted and its not just a millennial thing!  Tony also does a nice job framing how employers have been adding solutions to help employees with their student loan debt as part of their wellness programs and how some employers are even making contributions towards employee student loans as a recruiting and retention tool!  What is the tie in to retirement you ask, well it wouldn’t be the 401(k) Fridays podcast if we didn’t address that at some point.  As you will hear, paying off debt has an impact on your employees’ ability to save for retirement, however I was pretty excited to learn about some of the new tools and resources employers may offer to help to tackle both loan repayments and retirement savings! 

 

Thank you to our email subscribers for submitting questions ahead of time, I was able to work many of the into our conversation.  If you are not on our email list go to www.401kfridays.com/subscribe and join today! 

 

I learned a lot from this episode, I hope you do as well.