Home > Boards > US Listed > Computers - Software > Google Inc. (GOOG)

Google will cover $2,500 of employees' student-loan debt

Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
DiscoverGold Member Profile
 
Followed By 167
Posts 62,297
Boards Moderated 38
Alias Born 03/10/04
160x600 placeholder
Social Media CEOs to Come Under Senate Scrutiny Dow Jones News - 10/28/2020 5:59:00 AM
Lawmakers Want to Protect Local Newspapers From Google, Facebook -- 2nd Update Dow Jones News - 10/27/2020 7:52:00 PM
Amended Current Report Filing (8-k/a) Edgar (US Regulatory) - 10/27/2020 4:20:15 PM
Lawmakers Want to Protect Local Newspapers From Google, Facebook -- Update Dow Jones News - 10/27/2020 2:09:00 PM
Daimler, Waymo Team Up to Develop Self-Driving Trucks Dow Jones News - 10/27/2020 1:47:00 PM
Lawmakers Want to Protect Local Newspapers From Google, Facebook Dow Jones News - 10/27/2020 5:29:00 AM
Current Report Filing (8-k) Edgar (US Regulatory) - 10/26/2020 5:05:53 PM
Apple's Booming Services Business Could Be Hit in Google Antitrust Battle Dow Jones News - 10/25/2020 5:20:00 PM
Alphabet, Netflix, Tesla: Stocks That Defined the Week Dow Jones News - 10/23/2020 9:24:00 PM
Current Report Filing (8-k) Edgar (US Regulatory) - 10/23/2020 4:47:49 PM
Google, Skipify Partner for Gmail Shopping Feature Dow Jones News - 10/23/2020 9:09:00 AM
The Problem With Tech Monopolies, From Both Sides of the Political Aisle -- Journal Report Dow Jones News - 10/22/2020 4:34:00 PM
Sabre Shares Up 15% After AI Partnership With Google Dow Jones News - 10/22/2020 1:35:00 PM
Google's Antitrust Woes Seen Helping Microsoft's Bing Dow Jones News - 10/22/2020 11:25:00 AM
Italy's Communications Watchdog Fines Google Over Gambling Advertising Dow Jones News - 10/22/2020 11:23:00 AM
Remote Work Isn't Just for White-Collar Jobs Anymore -- Journal Report Dow Jones News - 10/22/2020 9:33:00 AM
Google's Foes Want Additional Enforcement Actions Dow Jones News - 10/22/2020 8:29:00 AM
Google, U.S. Government Each Face Challenges in Court Fight Dow Jones News - 10/21/2020 8:27:00 PM
Former Google CEO Fires Back at Justice Department's Antitrust Suit Dow Jones News - 10/21/2020 4:23:00 PM
Europe's Antitrust Push Against Google Hasn't Dented Its Heft. Can the U.S.? Dow Jones News - 10/21/2020 11:47:00 AM
Judge in Google Lawsuit Presided Over Major Antitrust Case Dow Jones News - 10/21/2020 11:43:00 AM
Google Rethinks App Design for Internet Novices Dow Jones News - 10/21/2020 6:29:00 AM
Disjointed Covid-19 Apps Across U.S. Raise Questions About Tech's Role Dow Jones News - 10/21/2020 5:59:00 AM
Justice Department Files Long-Awaited Antitrust Suit Against Google -- 3rd Update Dow Jones News - 10/20/2020 8:38:00 PM
Current Report Filing (8-k) Edgar (US Regulatory) - 10/20/2020 5:07:46 PM
DiscoverGold   Friday, 09/25/20 04:03:34 PM
Re: None
Post # of 8416 
Google will cover $2,500 of employees' student-loan debt
By: Morningstar | September 24, 2020

Google says it wants to help its employees 'save money to use in other ways, whether it's purchasing a new home, starting a family, or investing in a 401(k).'

Google will try to improve its employees' financial well-being by paying off some of their student-loan debts, the company said Thursday.

Google said it will "match up to $2,500 per Googler per year in student loan payments to help them pay off their student loans faster, allowing them to save money to use in other ways, whether it's purchasing a new home, starting a family, or investing in a 401(k)."

The perk will only be available for full-time U.S. employees, beginning in 2021. "We plan to expand the program globally over time," John Casey, director of global benefits at Google (GOOGL)(GOOGL) said in a statement (link).

"We're hoping this student loan repayment program gives our workforce some relief from student loans and helps them build more financial stability over the long term," he added.

The company acknowledged in a blog post announcing the program that student-loan debt disproportionately affects "women (link) and communities of color," with Black borrowers saddled with more debt on average (link) than their white counterparts.

Google declined to comment further on the announcement.

Americans collectively owe $1.5 trillion in student-loan debt and the average monthly loan payment is between $200 and $299, according to Federal Reserve numbers.

Google is not the first company to help its employees pay off student loans. In fact, loan repayment has become a more popular perk as employers seek to recruit and retain top talent.

Some 8% of U.S. companies offer student loan contribution benefits as of 2019, according to a survey (link) conducted by the Society for Human Resource Management, a professional organization. That's doubled from 2018.

See also: Student-loan borrowers are using their vacation days to pay off their debt (link)

The growing popularity of the perk has created an industry of middlemen (link) that provide the technology and platforms employers use to help pay off their workers' student loans.

During the pandemic, Americans with federally held student loans have been allowed to pause payments on their loans under the $2 trillion stimulus package, known as the CARES Act, that Congress passed in March.

Initially the pause of student loan repayments was set to expire at the end of September, but it was recently extended through the end of 2020.

However, approximately $165 billion in federal student loans are ineligible for the payment pause, as well as privately held student loans .

Read Full Story »»»



DiscoverGold

Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold
Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
X
Current Price
Change
Volume
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist
Consent Preferences