Reduce financial burden on students as they build skills.

Student loan debt affects focus at work and other financial choices often made in young adulthood, such as buying a home and starting a family, that can increase financial stability in the long term. ( ASA report ) Young job seekers are attracted to employers who offer them some relief from student loan debt, and reports show that these employers are being rewarded with higher retention and engagement rates.
  • SoFi at Work – provides student loan refinancing and the opportunity for employers to contribute matching dollars similar to a 401k plans. (Offered by Orrick and Martha Stewart Living according to website testimonials)
  • Another example, Student Loan Genius, facilitates company contributions to an employee’s 401k to match what they pay in student loans. Prudential is supporting this effort and bringing it to their clients.
  • Employers who offer student loan forgiveness programs can help students overcome unmanageable levels of debt and begin to accumulate assets in retirement accounts or savings toward a home.
Tools for Reducing Short-Term Financial Instability

We also believe that workers should have readily available tools to deal with financial disruptions (e.g., income volatility, expensive emergencies) so that these disruptions do not undermine the pathway toward financial security. We know these tools are often not available to lower wage workers who most need financial “cushions” that can assist in weathering a challenge and staying on a path to economic opportunity.
State governments should establish children's savings programs .
Expand EITC and make benefits portable .
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