A major retirement planner wants to help workers repay their student loans

The challenges borrowers face paying off their student loans have become so ubiquitous that a robust industry has developed around employers helping their workers pay down those debts.

As America’s $1.5 trillion student-loan problem has continued to grow, employers are trying to make a dent, by offering to make a contribution to their workers’ student loans.

The latest evidence: Empower Retirement, one of the nation’s largest 401(k) managers, is introducing a suite of programs employers can offer to their workers to help them manage or even pay down their student debt. Through a partnership with CommonBond, a student-loan refinancing company that got into the business of helping employers pay down their workers’ student loans in 2016, the new benefits have the potential to reach Empower’s client base of 38,000 firms.

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