The recent bill passed by Congress will extend low 3.4 percent interest rates on federally subsidized student loans for another year, which is great news to millions of students in the United States. Nonetheless, students still have loans to pay back, but there is a way to pay back loans with the assistance of an employer.
Lynnette Khalfani-Cox is known as and is the founder of The Money Coach, and in the video below she explains how workers burdened with loans can go about paying back their loans with the help of their employer.
The perfect time to bring up the suggestion would be during a positive performance review between the employer and employee.
If your employer is appraising you, this would be an ideal time to think about asking for the possibility of having some of your student loans paid off in the form of compensation to supplement your increase/raise that you might get. Another suggestion that was made was to go to the HR department for more information on that issue, because they know the range of benefits that an employer might offer.
"The key though, is to not be scared to ask," The Money Coach said.
Khalfani-Cox is a personal finance expert, television and radio personality and the author of numerous books, including the New York Times bestseller "Zero Debt: The Ultimate Guide to Financial Freedom." She is an award-winning financial news journalist and former Wall Street Journal reporter for CNBC.
To get full details from The Money Coach on how you can go about getting your employer to help you with your student loans, check out the video, below.
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