Whether you have a shiny new degree coming or one already hanging on the wall, it’s possible you went into significant debt to earn it. According to U.S. News data, 56% of college graduates from the class of 2024 took out student loans, with an average total student loan debt of nearly $30,000.
If you want some help knocking down your student loan balances, you may want to look for employment with companies that help pay off student loans. In 2024, 26% of employers provided student loan debt assistance program, according to a report by the Employee Benefit Research Institute. And those employers span a range of industries. This list can help you explore the types of repayment assistance plans out there as you target your job search.
[Read: Best Private Student Loans.]
11 Companies That Help Pay off Student Loans
1. Abbott
This health care technology company offers a benefit that helps pay off your student loans and save for retirement at the same time. When eligible Abbott employees make a student loan payment of at least 2% of their eligible pay, the company will make a 5% contribution to the employee’s 401(k). Employees are eligible on their first day of employment. This setup can help you avoid having to choose between paying off your student loans and saving for retirement.
2. Ally Financial
With financial services company Ally, you get a student loan repayment program that can help you simultaneously fund future educational goals. You can receive $100 monthly toward student loan repayment, with a $10,000 lifetime maximum. You can also get $100 monthly contributed to a 529 college savings plan, a benefit with a $10,000 lifetime maximum.
3. Andersen
This financial consulting company offers student loan repayment assistance through workplace financial wellness provider Gradifi. Employees working at least 20 hours per week are eligible for this benefit, beginning the first day of the month following the date of hire or on the date of hire if they start on the first of the month. The company pays up to $12,000 toward an employee’s student loan debt, including a $100 monthly stipend for five years. Employees receive a $6,000 lump sum payment at the end of five years.
4. Chegg
If you take a job with Chegg, an educational services company, your student loan repayments could get a respectable annual boost — even if you didn’t graduate with a degree. The company’s Equity for Education student loan repayment program offers up to $5,000 annually for employees with at least two years of tenure, from entry-level to manager positions. If you’re a director or vice president, you can get up to $3,000 annually.
The loan must be in the employee’s name to receive the full benefit. Chegg states that Equity for Education awards are subject to state income tax.
The Equity for Education benefits are in addition to a $1,000 annual cash grant available to all Chegg employees with student debt. No details are available on lifetime maximums with the Chegg program.
5. Clayco
Clayco, a construction engineering company, offers student loan repayment assistance to employees who make at least the minimum payment each month. At Clayco, employees can choose to participate in one or both plans:
— Clayco pays $100 per month toward an employee’s student loans for the first year, then increases the payment by $50 each subsequent year, up to a maximum of $250 per month in the fourth year.
— Employees can direct their 401(k) contribution to their student loan debt instead, and Clayco will continue to match that contribution.
6. Fidelity Investments
Financial services company Fidelity offers employees some hefty assistance with student loans. Full-time employees working 30 to 40 hours per week can get a student loan repayment benefit that offers a lifetime maximum of $15,000. Employees who work 20 to 29 hours per week are offered a lifetime maximum of $7,500. Eligible employees can participate from their first day with the company.
Fidelity also offers a student loan debt repayment program for employers interested in helping their employees pay down their student debt.
7. Google
Employees of the online search leader get up to a $2,500 per year matching student loan repayment benefit. To be eligible, you must be a U.S.-based, full-time Google employee. Like with some other companies that offer matching loan repayment programs, the $2,500 benefit is on a reimbursement basis. You’ll only be eligible for the maximum benefit if your annual student loan payments total at least $2,500.
8. New York Life Insurance Co.
At New York Life, employees can benefit from company contributions of up to $170 per month toward their student loans. The lifetime maximum tops out at $10,200 after five years of contributions, and employees are eligible from their first day with the company. All non-officer employees with student loans can participate.
9. Nvidia Corp.
This visual technology company offers recent grads — those graduating within the past three years — some top-notch student loan repayment assistance.
Employees who work 20 or more hours per week are eligible for up to $350 per month toward student loan repayment, with a lifetime maximum of $30,000.
Here’s the fine print: Nvidia’s contributions must be in addition to your regular monthly payment and are made directly to your loan servicer. So if you make a regular payment of $326, then you can apply to have Nvidia make an additional payment of $326 for the month. Funds above $5,250 are taxable as income.
10. RTX
When employees make a student loan payment, aerospace and defense behemoth RTX will make a contribution to the employee’s 401(k) that matches the loan payment, up to an eligible amount.
11. SoFi
When you are a full-time employee who works at least 30 hours per week at SoFi
, a financial services company and private student loan lender, you’ll get up to $5,250 per year toward your student loan repayments. Funds above $5,250 are considered taxable income. The loan must be in your name.
SoFi also offers an educational benefit and contribution program for employers interested in helping their employees pay down their student debt.
[READ Best Student Loan Refinance Lenders]
Should You Look for Jobs at Companies That Pay off Student Loans?
If you’re fresh off a degree and feel your student loan debt is a burden, looking for a job with a company offering repayment assistance could offer some financial peace of mind. In fact, advisors at Performance Wealth, an Illinois-based wealth management firm, recommend doing so, says Tom Salvino, a certified financial planner and the firm’s CEO.
“Companies that help students with loan assistance build a powerful bond, and can gain an employee who works hard for their caring employer, instilling loyalty from employee and employer,” Salvino says.
[Read: Best Student Loans for Bad Credit. ]
Indeed, more companies could bring programs online thanks to provisions in the SECURE Act 2.0, a retirement savings law signed in 2022, says Brent Boden, a certified financial planner and wealth advisor at Corient.
“With this expansion, companies can offer a new benefit to their workforce, helping match employees’ student loan payments into their company 401(k) plan,” he says.
These programs will likely look like those already in place with Abbott, Clayco and RTX and help you simultaneously pay down student loans and save for retirement. “(W)e have seen slower adoption than expected with the changing winds of the Trump administration to date,” he says. But, he adds, we “could see adoption over the next five to 10 years ramp up depending on changes to student lending.”
If programs that offer direct or supportive assistance with your student loans aren’t available at your target employer, you can always inquire about financial wellness benefits. While they vary from company to company, you could find services like no-cost consultations with a financial professional and debt management tools that can help you build a personal student loan repayment plan.
More from U.S. News
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11 Companies That Help Pay off Student Loans originally appeared on usnews.com
Update 06/09/26: This story was previously published at an earlier date and has been updated with new information.
