Education financing: approaches, considerations and the steps to launch an education financing offering

Authors: Kelly Lazzara Hannah Johnstone

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As plan sponsors look to offer benefits that are both cost-effective and meaningful across a diverse workforce, student loan assistance continues to gain momentum as a strategic benefit consideration. With rising employee financial stress, evolving legislation and a growing range of solutions and providers, plan sponsors are evaluating how education-related benefits can be structured to deliver equitable value while aligning with budget priorities.

About 42 million to 43 million Americans have federal student loan debt at an average federal student loan balance of $39,075 per borrower. Unquestionably, employees will be bringing the stress of higher student debt to the workplace for many years to come. Since 2023, approximately 3.8 million Americans owe $112.2 billion in outstanding Parent PLUS loans. Additionally, 3.8 million parents of college graduates took out an average of $29,526 in federal Parent PLUS loans, confirming that student loan debt is a multi-generational issue.1

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Average Student Loan Debt 2025.

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