Your employer may soon give you a 401(k) match for your student loan payments

Your employer may soon give you a 401(k) match for your student loan payments

In the new year, some employers will begin making matching 401(k) contributions into a retirement account for their employees’ student loan payments, a change that could be “transformational” for borrowers who may have trouble saving for retirement while paying down their debt. Different provisions in the legislation have different implementation dates: 401(k) matches for student loan payments will begin after Jan. 1. That comes just a few months after federal student loan payments resumed after a three and a half year hiatus. “It’s a transformational provision,” Laurel Taylor, founder and CEO of Candidly, a student debt and savings optimization platform, previously told Fortune. “It’s massive in terms of transforming financial outcomes for those completely sidelined.” Read more >>

Share this post