Want Help Paying Your Student Loans? These 10 Companies Offer Student Loan Perks

Pla2na/CNET

When you’re searching for a new job, you’re probably already looking at the salary and at standard benefits like health care and retirement plans. However, some companies offer an added incentive: They’ll help you pay off your student loans. 

It’s a rare perk, though. Just 5% of workers had access to student loan repayment benefit programs as of March 2023, according to the US Bureau of Labor Statistics. 

You may still be figuring out how to fit student loan payments into your budget after a five-year pause. If you’re looking for ways to put more money toward your student loan debt, consider focusing your job search on companies that help employees pay back their loans. 

10 companies that offer student loan reimbursement benefits

Though some big names like Target, Walmart and Amazon offer tuition programs that’ll help current workers earn their degrees, those benefits won’t do much if you’re no longer in college. 

If you’ve already graduated, consider looking for career opportunities at these companies that will help accelerate your repayment plan. 

Adidas

Adidas will chip in $100 per month toward student loan payments for any employee who works at least 30 hours per week. The company confirmed to CNET that it’ll pay up to $1,200 per year. 

Adidas doesn’t specify a lifetime maximum amount it’s willing to contribute, and the benefit does take a while to kick in: You’ll need to be there for a full year before you qualify. However, all workers, from corporate to distribution-center employees, can take advantage of the repayment plan.

Ally

We’ve written plenty about Ally from a consumer standpoint — I have an account there because the bank consistently offers one of the top high-yield savings rates. It turns out Ally is also a good place to work. 

The company’s student loan reimbursement program offers up to $100 per month in assistance, with a lifetime maximum of $10,000. Additionally, if you’re saving for a child’s college education, the company will contribute $100 monthly to a 529 plan. 

Carhartt

Though Carhartt, the maker of work wear, does say it offers a student loan repayment plan for its employees, the company doesn’t share any specific details other than the fact that the program exists.

Fidelity

If you work full time for Fidelity, you can score up to $15,000 of lifetime assistance for student loan payments, though it’s unclear how much the company pays each month. If you work between 20 and 29 hours per week, the benefit is capped at $7,500. 

Google

The tech giant’s student loan repayment plan is among the more generous you’ll find: up to $2,500 of matching funds every year you work there. Plus, there’s no lifetime maximum, which is a key perk for anyone with a larger student debt.

Live Nation

You might have paid some hefty fees to purchase tickets through Live Nation in the past, but now it’s their turn to pay you. Live Nation will contribute $100 per month to an employee’s student loan payments once the employee’s worked there for at least six months. However, there’s a limit to how long the repayment plan lasts: It ends after five years. 

New York Life

New York Life has put a lotof money toward its employees’ student loan payments — collectively around $12.4 million between 2017 and 2023, according to the company. Employees can get $170 per month to put toward their student loans for up to five years — or just over $10,000 total.

Nvidia

Nvidia appears in just about every headline these days due to the AI boom. The company also has a lucrative student loan repayment offer: up to $500 per month. But there are some important caveats: You must have graduated within the last three years and remain an employee for a year after receiving payments. The company pays up to $30,000 in lifetime assistance.

SoFi

SoFi stands out as a strong candidate for your banking needs, and it could be even more appealing as a place to work. The company offers up to $200 monthly for employees’ student loan payments, with no mention of any lifetime maximum amounts. 

Universal Music Group

After employees have been at UMG for at least one year, the company will start adding $100 per month to student loan payments. There’s no set maximum lifetime contribution amount. 

401(k) matching programs linked to your student loan payments

Some companies won’t technically pay your student loans, but they will use your payments when determining how much to contribute to your retirement plan. 

For example, Walgreens matches your student loan payments with contributions to your 401(k) — up to 4% of your pay. 

So, while it won’t technically chip away at your student loans, it will help set you up for long-term success, which can be tough if much of your paycheck is going to your student debt. The benefit isn’t immediate, though. It kicks in after one year plus 1,000 hours of service.

Other companies, like Verizon and NewsCorp, offer a similar program to certain employees.

Ask every potential employer about student loan repayment benefits

This list shouldn’t make you assume these are the only companies where you can get student loan repayment perks. Plenty of smaller businesses offer programs to help employees navigate the challenges of paying off college expenses. 

An extra hundred bucks may not sound like much, but it can add up. Consider a borrower with a $20,000 balance on a 10-year loan with a 6% interest rate. That extra $100 each month adds up to a total savings of more than $2,600 in interest.