Survey: Businesses Can Benefit From Student Loan Plans

Bill Wozniak will talk more about the study this weekend on Inside INdiana Business with Gerry Dick. Bill Wozniak will talk more about the study this weekend on Inside INdiana Business with Gerry Dick.

A new statewide survey suggests employers that provide student loan assistance can have a competitive advantage when it comes to talent. Indiana-based nonprofit INvestEd released the survey today, which shows 86 percent of respondents say employers that offer some form of student loan repayment programs are better positioned to attract and retain top talent. In an interview that will air this weekend on Inside INdiana Business with Gerry Dick, INvestEd Vice President of Marketing Bill Wozniak said the issue comes from two directions.

"The employer wants a worker that's going to stick around for a while and they want their employees to be happy," said Wozniak. "If the employee is taking on a part-time job, their focus sort of waivers, they're starting to get stretched because they're just trying to make their student loan payments. The employer wants a better, more focused worker and the employee has said resoundingly they want help with this student loan situation, so both sides can benefit."

The survey shows 72 percent of Hoosiers are concerned that student debt is stifling economic growth, worker skilling and/or talent attraction throughout the state. They say they want access to multiple lenders, including a nonprofit organization, and free and transparent financial literacy information.

"This survey shows that students and families across Indiana want even more help when it comes to navigating college planning, managing costs and understanding which lending options are right for them," Joe Wood, chief executive officer of INvestEd said in a news release. "We reached over 41,000 Hoosiers last year through over 450 financial literacy events held at high schools statewide. And we helped more than 6,000 families who reached out directly to our counselors for advice on funding education beyond high school. But, it’s clear that Hoosiers want even more."

The survey targeted more than 600 Indiana residents and was conducted online by Atomik Research. You can learn more about the study by clicking here.

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