This company is helping pay down its employees' student debt. 'They are creating value for us'
"We are the beneficiaries of those people who have gotten an education — doesn't matter if it is four year or two year or even if they completed it," he added. "If they borrowed money and they are creating value for us, we want to help them."
We are taking our most vulnerable, least financially stable and we're creating a burden on them that is unsustainable.Many also are unable to find ways to pay their bills. More than 1 million borrowers go into default each year. By 2023, its projected that 40% of borrowers may default on their student loans.
"We've got a mess and it's probably the biggest economic crisis facing this country. And we don't deal enough with it," Rosensweig said.with some sort of student loan debt assistance.Last year, Fidelity began to offer companies a way to contribute to their employees' education debt with its Student Debt Employer Contribution program. It now has more than 65 companies that are offering, or in the process of offering, the benefit.
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