15 Companies That Help Their Employees Repay Student Loans

·18 min read

Modern employers recognize that they need to offer valuable benefits to attract and retain new employees — which is why many of them now provide assistance to help their team members pay off student loans.

Keep in mind that in many cases, this perk is reserved for top performers or long-term employees.

Here’s what you should know about companies that repay student loans:

  • 15 companies that help their employees repay student loans

  • Next steps with job hunting and student loan repayment

  • Consider refinancing your student loans

15 companies that help their employees repay student loans

As of 2021, 43.2 million U.S. adults have student loans — the average student loan debt for these borrowers is $39,351, though there are also many borrowers that have much higher debt loads than this.

In response, student loan repayment assistance is becoming an increasingly common benefit at a variety of companies. Here are 15 companies that provide this perk to their employees:

  • Abbott

  • Carhartt

  • Carvana

  • Chegg

  • CommonBond

  • Estee Lauder

  • Fidelity Investments

  • Google

  • Honeywell

  • Hulu

  • Live Nation

  • Peloton

  • Penguin Random House

  • SoFi

  • Staples

Abbott

Abbott, a health technology company, provides the Freedom 2 Save program to help employees pay off their student loans so they can also save money for retirement. This program is available to full- and part-time employees who:

  • Qualify for the company’s 401(k)

  • Contribute at least 2% of their eligible pay toward student loans

Employees who meet these requirements will then receive an amount equivalent to the 5% company match, which will be deposited into their 401(k) accounts. This can help employees build their retirement savings while putting their own funds toward paying off their student loans.

For example: An employee who earns a salary of $70,000 and participates in the Freedom 2 Save program could see $54,000 accumulate in their 401(k) over a 10-year period — without having to make any contributions toward their 401(k) themselves.

Carhartt

Workwear brand Carhartt provides $50 per month ($10,000 lifetime limit) in student loan repayment assistance to its full-time and part-time employees — the contribution is made directly to the employee’s loan servicer.

To be eligible for this program, non-union and union employees must work for the company for at least 30 or 90 days, respectively.

Learn More: Federal Student Loan Repayment Options

Carvana

Online car retailer Carvana offers its employees up to $1,000 in student loan repayment assistance per year. Employees must work full time to be eligible for this benefit.

Chegg

Education technology company Chegg offers student loan repayment assistance through its Equity for Education program. Any Chegg employee can receive $1,000 to put toward their student loans through this program — no matter if they attended a two- or four-year school or if they graduated.

On top of this, employees who are entry-level through manager-level employees who have worked at Chegg for at least two years can get another $5,000 annually, while employees at the level of director or vice president can get up to another $3,000.

CommonBond

CommonBond offers student loan refinancing along with private student loans — and it also provides student loan repayment assistance to its employees.

Each team member with student loan debt is eligible to receive $100 per month to pay toward their loans beginning on their first day of employment, regardless of their job title.

Tip: CommonBond is also one of Credible’s student loan refinancing partners. Depending on your credit, refinancing might get you a lower interest rate, which could save you money on interest and potentially help you pay off your loans faster.

If you decide to refinance your student loans, be sure to consider as many lenders as possible to find the right loan for your needs. Credible makes this easy — you can compare your prequalified rates from CommonBond and our other partner lenders below in just two minutes.

Lender

Fixed rates from (APR)

Variable rates from (APR)

Loan terms (years)

Loan amounts

advantage education loan student loan refinance



Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.

2.94%+

N/A

10, 15, 20

$7,500 up to up to $200,000
(larger balances require special approval)

  • Fixed APR: 2.94%+

  • Variable APR: N/A

  • Min. credit score: Does not disclose

  • Loan amount: $7,500 up to $500,000

  • Loan terms (years): 10, 15, 20

  • Max. undergraduate loan balance: $250,000 - $500,000

  • Time to fund: 4 months

  • Repayment options: Immediate repayment, forbearance, loans discharged upon death or disability

  • Fees: None

  • Discounts: Autopay

  • Eligibility: Must be a resident of Kentucky

  • Customer service: Phone

  • Soft credit check: No

  • Cosigner release: After 12 months

  • Loan servicer: Kentucky Higher Education Student Loan Corporation

  • Max. graduate loan balance: $250,000 - $500,000

  • Credible Review: Advantage Education Loan review

  • Offers Parent PLUS Refinancing : Yes

brazos student loan refinance



Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.

2.15%+

1.83%+

5, 7, 10, 15, 20

$10,000 up to $250,000
(depending on degree)

  • Fixed APR: 2.15%+

  • Variable APR: N/A

  • Min. credit score: Does not disclose

  • Loan amount: $10,000 to $400,000

  • Loan terms (years): 5, 7, 10, 15, 20

  • Repayment options: Military deferment, forbearance

  • Fees: Late fee

  • Discounts: Autopay

  • Eligibility: Must have a credit score of at least 720, a minimum income of $60,000, and must be a resident of Texas

  • Customer service: Email, phone

  • Soft credit check: Does not disclose

  • Cosigner release: No

  • Loan servicer: Firstmark Services

  • Max. Undergraduate Loan Balance: $100,000 - $149,000

  • Max. Graduate Loan Balance: $200,000 - $400,000

  • Offers Parent PLUS Refinancing: Does not disclose



Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.

2.59%+1

1.99%+1

5, 7, 10, 15, 20

$10,000 to $500,000
(depending on degree and loan type)

  • Fixed APR: 2.59%+1

  • Variable APR: 1.99%+1

  • Min. credit score: Does not disclose

  • Loan amount: $10,000 to $750,000

  • Loan terms (years): 5, 7, 10, 15, 20

  • Repayment options: Immediate repayment, academic deferment, military deferment, forbearance, loans discharged upon death or disability

  • Fees: Late fee

  • Discounts: Autopay, loyalty

  • Eligibility: Must be a U.S. citizen or permanent resident and have at least $10,000 in student loans

  • Customer service: Email, phone, chat

  • Soft credit check: Yes

  • Cosigner release: After 24 to 36 months

  • Loan servicer: Firstmark Services

  • Max. Undergraduate Loan Balance: $100,000 to $149,000

  • Max. Graduate Loan Balance: Less than $150,000

  • Offers Parent PLUS Refinancing: Yes



Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.

2.99%+2

2.94%+2

5, 7, 10, 12, 15, 20

$5,000 to $300,000
(depending on degree type)

  • Fixed APR: 2.99%+2

  • Variable APR: 2.94%+2

  • Min. credit score: Does not disclose

  • Loan amount: $5,000 to $300,000

  • Loan terms (years): 5, 7, 10, 12, 15

  • Repayment options: Military deferment, forbearance, loans discharged upon death or disability

  • Fees: Late fee

  • Discounts: Autopay

  • Eligibility: All states except for ME

  • Customer service: Email, phone, chat

  • Soft credit check: Yes

  • Cosigner release: After 24 to 36 months

  • Loan servicer: College Ave Servicing LLC

  • Max. Undergraduate Loan Balance: $100,000 to $149,000

  • Max. Graduate Loan Balance: Less than $300,000

  • Offers Parent PLUS Refinancing: Yes



Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.

3.65%+

3.6%+

5, 7, 10, 15, 20

$5,000 to $500,000

  • Fixed rate: 3.65%+

  • Variable rate: 3.6%+

  • Min. credit score: 680

  • Loan amount: $5,000 to $500,000

  • Cosigner release: Yes

  • Loan terms (years): 5, 7, 10, 15, 20

  • Repayment options: Academic deferment, forbearance, loans discharged upon death or disability

  • Fees: Late fee

  • Discounts: Autopay

  • Eligibility: Available in all states, except MS and NV

  • Customer service: Email, phone, chat

  • Soft credit check: Yes

  • Loan servicer: FirstMark

  • Max. undergraduate loan balance: $500,000

  • Max. graduate loan balance: $500,000

  • Offers Parent PLUS refinancing: Yes

  • Min. income: $65,000 (for 15- and 20-year products)

edvestinu student loan refinance



Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.

2.91%+5

2.77%+5

5, 10, 15, 20

$1,000 to $250,000

  • Fixed APR: 2.91%+5

  • Variable APR: 2.77%+5

  • Min. credit score: 700

  • Loan amount: $7,500 to $200,000

  • Loan terms (years): 5, 10, 15, 20

  • Repayment options: Immediate repayment, academic deferment, forbearance, loans discharged upon death or disability

  • Fees: None

  • Discounts: Autopay

  • Eligibility: Must be a U.S. citizen or permanent resident and submit two personal references

  • Customer service: Email, phone

  • Soft credit check: Yes

  • Cosigner release: After 36 months

  • Loan servicer: Granite State Management & Resources (GSM&R)

  • Max. Undergraduate Loan Balance: $150,000 to $249,000

  • Max. Graduate Loan Balance: $150,000 to $199,000

  • Offers Parent PLUS Refinancing : Yes



Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.

2.47%+3

1.86%+3

5, 7, 10, 12, 15, 20

$15,000 to $250,000

  • Fixed APR: 2.47%+3

  • Variable APR: 1.86%+3

  • Min. credit score: 680

  • Loan amount: $15,000 to $250,000

  • Loan terms (years): 5, 7, 10, 12, 15, 20

  • Repayment options: Forbearance

  • Fees: None

  • Discounts: None

  • Eligibility: Must be a U.S. citizen or permanent resident, have at least $15,000 in student loan debt, and have a bachelor’s degree or higher from an approved school

  • Customer service: Email, phone

  • Soft credit check: Yes

  • Cosigner release: No

  • Loan servicer: Mohela

  • Max. Undergraduate Loan Balance: $250,000

  • Max. Graduate Loan Balance: $250,000

  • Offers Parent PLUS Refinancing: Yes



Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.

3.47%+4

2.44%+4

5, 10, 15, 20

$5,000 - $250,000

  • Fixed APR: 3.47%+4

  • Variable APR: 2.44%+4

  • Min. credit score: 670

  • Loan amount: $5,000 to $250,000

  • Loan terms (years): 5, 10, 15, 20

  • Repayment options: Academic deferment, military deferment, forbearance

  • Fees: Late fee

  • Discounts: Autopay

  • Eligibility: Must be U.S. citizen or permanent resident

  • Customer service: Email, phone, chat

  • Soft credit check: Yes

  • Cosigner release: Yes

  • Max undergraduate loan balance: $250,000

  • Max graduate loan balance: $250,000

  • Offers Parent PLUS refinancing: Yes



Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.

2.44%+ 7

N/A

5, 7, 10, 12, 15, 20

Up to $300,000

  • Fixed APR: 2.44%+ 7

  • Variable APR: N/A

  • Min. credit score: 670

  • Loan amount: Up to $300,000

  • Loan terms (years): 5, 7, 10, 15, 20

  • Time to fund: Usually one business day

  • Repayment options: Academic deferral, military deferral, forbearance, death/disability discharge

  • Fees: None

  • Discounts: Autopay

  • Eligibility: Available in all 50 states

  • Customer service: Email, phone

  • Soft credit check: Yes

  • Cosigner release: After 24 months

  • Max. undergraduate loan balance: $300,000

  • Max. graduate balance: $300,000

  • Offers Parent PLUS loans: Yes

  • Min. income: None



Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.

2.49%+

1.9%+

5, 7, 10, 15

Up to $300,000

  • Fixed APR: 2.49%+

  • Variable APR: 1.9%+

  • Min. credit score: 700

  • Loan amount: $5,000 to $300,000

  • Loan terms (years): 5, 7, 10, 15

  • Max. undergraduate Loan Balance: $125,000

  • Time to Fund: 10 to 30 days

  • Repayment options: Immediate repayment, forbearance

  • Fees: Late fee

  • Discounts: Autopay

  • Eligibility: Must be a U.S. citizen or permanent resident and have already graduated with at least an associate degree from an eligible institution

  • Customer service: Email, phone

  • Soft credit check: Yes

  • Cosigner release: After 12 months

  • Loan servicer: LendKey Technologies Inc.

  • Max. graduate Loan Balance: $175,000

  • Credible Review: LendKey Student Loans review

  • Offers Parent PLUS Refinancing: No



Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.

2.95%+

N/A

7, 10, 15

$10,000 up to the total amount of qualified education debt

  • Fixed APR: 2.95%+

  • Variable APR: N/A

  • Min. credit score: 670

  • Loan amount: $10,000 up to the total amount

  • Loan terms (years): 7, 10, 15

  • Repayment options: Military deferment, loans discharged upon death or disability

  • Fees: None

  • Discounts: None

  • Eligibility: Must be a U.S. citizen or permanent resident and have at least $10,000 in student loans

  • Customer service: Email, phone

  • Soft credit check: Yes

  • Cosigner release: No

  • Loan servicer: AES

  • Max. Undergraduate Loan Balance: No maximum

  • Max. Gradaute Loan Balance: No maximum

  • Offers Parent PLUS Refinancing: Yes



Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.

2.89%+

N/A

5, 8, 12, 15

$7,500 to $300,000

  • Fixed APR: 2.89%+

  • Variable APR: N/A

  • Min. credit score: 670

  • Loan amount: $7,500 to $300,000

  • Loan terms (years): 5, 8, 12, 15

  • Repayment options: Does not disclose

  • Fees: None

  • Discounts: None

  • Eligibility: Must be a U.S. citizen and have and at least $7,500 in student loans

  • Customer service: Email, phone, chat

  • Soft credit check: Yes

  • Cosigner release: After 12 months

  • Loan servicer: PenFed

  • Max. Undergraduate Loan Balance: $300,000

  • Max. Graduate Loan Balance: $300,000

  • Offers Parent PLUS Refinancing: Yes



Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.

2.69%+

N/A

5, 10, 15

$7,500 up to $250,000
(depending on highest degree earned)

  • Fixed APR: 2.69%+

  • Variable APR: N/A

  • Min. credit score: 680

  • Loan amount: $7,500 to $250,000

  • Loan terms (years): 5, 10, 15

  • Repayment options: Academic deferment, military deferment, forbearance, loans discharged upon death or disability

  • Fees: None

  • Discounts: Autopay

  • Eligibility: Available in all 50 states; must also have at least $7,500 in student loans and a minimum income of $40,000

  • Customer service: Email, phone

  • Soft credit check: Does not disclose

  • Cosigner release: No

  • Loan servicer: Rhode Island Student Loan Authority

  • Max. Undergraduate Loan Balance: $150,000 - $249,000

  • Max. Graduate Loan Balance: $200,000 - $249,000

  • Offers Parent PLUS Refinancing: Yes

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All APRs reflect autopay and loyalty discounts where available | 1Citizens Disclosures | 2College Ave Disclosures | 5EDvestinU Disclosures | 3 ELFI Disclosures | 4INvestEd Disclosures | 7ISL Education Lending Disclosures

Estee Lauder

Beauty company Estee Lauder offers $100 per month in student loan repayment assistance. Employees can get a maximum of $10,000 contributed toward their education debt.

Fidelity Investments

Financial services company Fidelity Investments offers a generous student loan repayment assistance program to its employees. The amount that employees are eligible for depends on how many hours they work.

  • 30 or more hours per week: Up to $2,143 per year ($15,000 lifetime maximum)

  • 20 to 29 hours per week: Up to $1,071 per year ($7,500 lifetime maximum)

Google

Technology giant Google launched a student loan repayment assistance program for employees in 2021. Through this program, Google will match up to $2,500 in student loan payments for each full-time employee.

The company has specified that this perk is part of its initiative to create a more equitable workplace.

Honeywell

Honey, a conglomerate corporation, offers a student loan repayment assistance program to employees working at its Atlanta office. Under this program, eligible employees can receive $150 per month ($10,000 maximum limit) to pay toward their education debt.

Hulu

Hulu, a streaming media company owned by Disney, provides its employees with up to $1,200 to match their student loan payments. Most Hulu positions require a bachelor’s degree, which means this benefit will most likely assist borrowers who have earned a bachelor’s or higher.

Live Nation

Live Nation Entertainment promotes, manages, and operates ticket sales for live entertainment around the world, and it offers its employees a variety of great perks, including student loan repayment assistance.

The company will match up to $100 per month in student loan contributions with a lifetime cap of $6,000.

Check Out: How to Get Student Loan Repayment Help

Peloton

Fitness technology company Peloton offers $100 per month in student loan repayment assistance to its employees. Peloton hopes to attract and maintain motivated, talented employees by providing this benefit.

Penguin Random House

Penguin Random House was the first book publisher to offer student loan repayment assistance to its employees. Regular, full-time employees can get $100 per month ($1,200 annually) paid toward their student loans for up to seven and a half years and a maximum of $9,000.

To be eligible, employees must have worked at Penguin Random House for at least one year.

SoFi

Personal finance company SoFi offers a variety of products from student loan refinancing to mortgages — and it also was one of the pioneers to begin offering student loan repayment assistance to its employees.

SoFi provides $200 per month in student loan repayment to its employees with no annual cap or maximum limit.

Staples

Staples, an office supply store, offers $100 per month (up to $3,600) of student loan repayment assistance to active, full-time employees who have at least one outstanding education debt. To be eligible, employees must also have graduated or be in the process of earning a degree from an accredited institution.

Learn More: The Complete List of Student Loan Forgiveness Programs

Next steps with job hunting and student loan repayment

More and more companies are beginning to offer student loan repayment assistance as a way to attract and retain employees. If you’re looking for a new job and want your future employer to help with your student loan repayment, you might consider applying with one of the companies above.

Tip: As you search for jobs, be sure to check the benefits pages of any potential employers to see if they offer any student loan repayment benefits.

Alternatively, if you’re already employed, consider asking your employer if they’d be willing to begin offering this perk. Be prepared to show them how this would benefit both the company and the employees.

Check Out: Can’t Pay Your Student Loans? What You Need to Know

Consider refinancing your student loans

No matter if your employer offers loan repayment assistance or not, there are also other strategies that could help you pay off your loans more easily. One option to think about is student loan refinancing — a process that pays off your old loans with a new private loan, leaving you with just one loan and payment to manage.

Keep in mind: Depending on your credit, you might qualify for a lower interest rate through refinancing, which could save you hundreds or even thousands of dollars in interest.

Or you could opt to extend your repayment term to reduce your monthly payments — however, this also means you’ll pay more in interest over time.

If you decide to refinance your loans, remember to consider as many lenders as you can to find the right loan for your needs. This is easy with Credible: You can compare your prequalified rates in just two minutes — without affecting your credit.

Find out if refinancing is right for you

  • Compare actual rates, not ballpark estimates – Unlock rates from multiple lenders in about 2 minutes

  • Won’t impact credit score – Checking rates on Credible won’t impact your credit score

  • Data privacy – We don’t sell your information, so you won’t get calls or emails from multiple lenders

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