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Wellbeing Weekly: Student Loan Debt is Crushing Employees' Mental and Financial Wellness. Is it Time for Employers to Take Action?

Posted May 21, 2021 by CHC Wellbeing. Filed under WELLBEING, FINANCIAL WELLNESS, EMPLOYEE BENEFITS, MENTAL HEALTH

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Financial Stress

Student Loan Debt is Crushing Employees' Mental and Financial Wellness. Is it Time for Employers to Take Action?

Employee Benefits News

As of 2020, the outstanding U.S. student loan debt hit an astonishing $1.7 trillion, according to the Federal Reserve. Additionally, data collected by First Republic Bank, shows that 65% of college educated adults have student loan debt, averaging $39,351. This load weighs heavy on the mind of employees and can impact their performance at work. Financial stress and mental health are inextricably linked, so how can employers help to support their employees?

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