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The government is helping its workers pay off their student loans

October 22, 2015

Via: itCurated
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The federal government is increasingly relying on a recruitment tool growing in popularity with employers that range from one of the best-known firms in corporate America to a brothel: Helping to pay off their workers’ student loans.

Last year, the federal government helped 8,469 federal employees make a dent in their student loans to the tune of more than $58.7 million, according to a report from the Office of Personnel Management released last month. That’s a 15% jump in the number of workers receiving the benefit and an 11% increase in the amount of money agencies are spending on the benefit, the report found.

The federal government’s growing use of the perk comes as it’s gaining buzz among companies. PricewaterhouseCoopers announced last month that it would put up to $1,200 a year toward its employees’ student loans during their first six years of entry-level employment. The firm is working with a Boston-based startup that launched a platform last month to help companies easily manage making payments toward their employees’ student loans. Even a brothel owner started a program earlier this month to help his workers make a dent in their student loans.