Photo: Akil Mazumder | Pexels
Over the past decade, student loan debt has risen 116%. Fintech company, FIS, a publicly traded provider of technology solutions for merchants, banks and capital-market firms, is hoping to help reverse that. In 2021, the company will begin offering a new benefit to new hires: it will pay off their student debt. At a time when 45 million Americans have student loan debt, which collectively tops $1.5 trillion, only about 4% of private sector employers offer this kind of loan-repayment benefit. New hires of any age who have educational debt will get the principal on their student-load debt balance paid after completing one year with the company. After 10 years with the company, their principal debt will be completely paid off. FIS chairman and CEO said in statement, "As the company that empowers the financial and commerce world by advancing the way the world pays, banks and invests, it's important that we invest in the future generation of FIS leaders."
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