Summary
The levels of student debt have been increasing at an alarming
rate, becoming a source of financial burden and stress for many
individuals. According to
the Education Data Initiative, the total
student loan debt in the United States reached $1.777 trillion as of
2024, and there are more than 42.7 million
federal student loan debt borrowers.
Given the importance of supporting employees' financial wellbeing, many
firms are investing in employees’ financial
wellness, and a key area of focus within
that is education-financing assistance. This By the Numbers report
offers an insight
into the results from the 2024 Financial
Wellbeing Employer Survey and what was revealed there about the
employer’s role and employees' perspectives
in regard to saving for college and
managing student loan debt.