Student Loan Payments Can Go Toward Retirement in 2024
March 2, 2023 – In a Human Resources Director article about how the SECURE 2.0 Act lets employers help debt-saddled workers prepare for their future, Stacey MacPhetres, senior director of education finance at Bright Horizons EdAssist Solutions, shares insights on the topic.
“When you think about employer-sponsored student loan repayment, that’s a very significant budget item,” says MacPhetres, who previously spent 13 years as vice president at JPMorgan Chase. “It’s something companies have to plan for and then ramp up. But retirement is probably something already built into their benefits package. So, this is a way for employers to enter the student loan space and give some assistance to employees without having to restructure benefits programs.”
Read the full article here.