Student Loan Repayment Assistance: Employers Offering SLRA

Your employer may be willing to pay part of your student loan bill, usually $100 to $437.50 a month sent straight to your loan servicer. Student loan repayment assistance is one of the few fringe benefits that cuts debt directly, and up to $5,250 a year of it is tax-free.

About 14% of employers offered the benefit in 2024, up from 4% in 2019, according to survey data reported by SHRM. Hospitals now use it to recruit nurses and nurse anesthetists, and banks and insurers use it to keep entry-level staff. Nvidia and Fidelity pay $15,000 to $30,000 over an employee’s career. With tens of millions of Americans carrying student loans, it’s worth checking before you accept a job or skip open enrollment.

We rebuilt this list from scratch for 2026, including a check of all 500 companies in the S&P 500 index. Every company below has a current benefits page, filing, press release or job posting showing the program. We removed employers we could no longer verify.

You can search the table by name, filter by industry and sort by amount. Our editorial guidelines explain how we check every entry.

What Is Student Loan Repayment Assistance?

Student loan repayment assistance is an employer benefit that sends money toward loans you already owe. Most programs pay a fixed amount each month directly to your student loan servicer until you hit a lifetime cap or leave the company. It’s often confused with tuition reimbursement, but the money goes to old debt instead of new classes. Programs come in four main designs:

• Flat monthly payment: A set amount like $100 a month (Ally, Adidas, PwC) or $350 a month (Nvidia).
• Match: The employer matches what you pay, such as Google’s 100% match up to $2,500 a year or IAT Insurance Group’s 50% match up to $300 a month.
• Hiring commitment: A hospital or clinic pays a large total, often $25,000 to $180,000, in exchange for two to five years of work. Most of these run through vendors like Clasp and Scholars Network.
• PTO exchange: You trade unused vacation days for a loan payment, as Truist allows. This option is taxable because it converts your own pay.

The tax break only covers loans you took out for your own education, federal or private. That’s why Parent PLUS loans borrowed for a child are excluded by employers like Nvidia and Advocate Health. Refinancing discounts and student loan counseling don’t count as repayment assistance, so we left those employers off the list. Clawback clauses also differ from training repayment agreements (TRAPs), which charge you if you leave.

Which Companies Offer Student Loan Repayment Assistance?

These 89 employers offer a direct student loan repayment benefit as of October 2026. Search by company, filter by industry, or click a column heading to sort by benefit amount or lifetime maximum. Where a company confirms the program but no longer publishes the amount, we list it as not disclosed and note the original launch amount when one exists. Every amount is paid toward your own student loans, not toward new tuition.

A few large employers often named on other lists didn’t make ours. Lockheed Martin now lists only access to student loan refinancing, and Honeywell’s 2026 benefits summary lists education assistance only. CVS Health, which owns Aetna, offers loan coaching instead of payments.

Employers that only offer a student loan 401(k) match, including Abbott, Walgreens and Chipotle, are covered separately. Know an employer we missed? Leave the company name and a link to the benefit in the comments, and we’ll verify it for the next update.

Which Industries Offer Student Loan Repayment Assistance Most?

Healthcare offers student loan repayment assistance more than any other industry, with 35 of the 89 employers on our list. Financial services and insurance follow, then technology, retail and media companies. Hospitals use the benefit to hire nurses, imaging techs and nurse anesthetists. Many of those workers also qualify for nursing student loan forgiveness programs.

Healthcare programs are larger but narrower: Cleveland Clinic pays full-time nurses in select roles up to $437.50 a month with a $15,750 cap. Rochester Regional Health pays nurse anesthetists up to $180,000, and MyEyeDr. pays optometrists up to $200,000 over five years. In exchange, many require a two- to five-year work commitment, often signed before you graduate. Read the terms the way you would for any physician loan repayment program.

Corporate programs are smaller but open to more staff. Banks, insurers and accounting firms usually pay $100 to $300 a month to most employees with student loans, sometimes after a waiting period. New York Life pays up to $170 a month to non-officer employees with a $10,200 cap, and The Hartford pays $125 a month up to $10,000 after six months on the job. Pairing either with other ways to pay off student loans faster can cut years off repayment.

How Many S&P 500 Companies Offer Student Loan Repayment Assistance?

Only 26 of the 500 companies in the S&P 500, about 5%, publicly offer a benefit that pays down employees’ student loans. We checked every company in the index as of October 2026 against its careers and benefits pages, SEC filings, job postings and news coverage. Far more big employers help with new classes than with old debt: 215 offer only tuition reimbursement. Treat these numbers as a floor, since 222 companies publish nothing about student loan benefits outside employee-only portals.

Another 16 companies, including Progressive, Travelers and Verizon, offer only a 401(k) student loan match. That money goes into retirement savings, not toward the loan. Fifteen more, like Home Depot, Ford and Adobe, offer refinancing perks or loan coaching tools without paying anything toward the debt.

The S&P 500 companies with direct programs include Nvidia, Alphabet, Procter & Gamble, Gilead Sciences, Synopsys, Lennar and UnitedHealth Group. Synopsys pays $400 a month up to $24,000, and Lennar pays up to $5,250 a year after an associate’s first year. Most of the biggest payers on our list, like Fidelity, PwC and the hospital systems, are private companies or nonprofit employers that can qualify for PSLF.

Is Employer Student Loan Repayment Assistance Taxable?

Employer student loan payments of up to $5,250 per year are tax-free to you, as long as they’re made under a written educational assistance program. The money isn’t counted as wages for income tax or FICA, and it doesn’t show up in your adjusted gross income. Our full breakdown of tax-free employer student loan assistance covers the history of the rule.

The rule lives in Section 127 of the tax code, which governs tax-free educational assistance. The CARES Act first added student loan payments in 2020 as a temporary measure, and the One Big Beautiful Bill Act made the student loan provision permanent in July 2025. According to the IRS’s updated educational assistance FAQs, the limit stays at $5,250 for 2026 and will be adjusted for inflation starting in 2027. Three details trip people up:

• The cap is shared: The $5,250 covers student loan payments and tuition reimbursement combined. If your employer also reimburses $3,000 of grad school tuition, only $2,250 of loan payments stays tax-free that year.
• Anything above the cap is taxable: Payments over $5,250 are treated as wages unless another exclusion applies.
• PTO exchanges are taxable: Trading vacation days for a loan payment converts your own pay, so it’s taxed like a paycheck.

Tax-free money is worth more than the same amount of salary. The table below shows the raise you’d need to match it after federal income tax and FICA. You can run your own numbers with our income tax calculator.

How Much Is Student Loan Repayment Assistance Worth?

A $100 monthly benefit saves about $3,300 in interest and nearly three years of payments on a $30,000 loan at 6.5%. The money goes straight to principal on top of your own payment, so it works like paying off student loans faster without using your own cash. The full $5,250 tax-free amount pays off the same loan in under four years.

These numbers assume you keep making your standard 10-year payment of $340.64 and the employer money goes to principal. Our student loan calculator lets you plug in your own balance and rate.

Repayment assistance can also beat a higher salary offer. In the 22% bracket, a job paying $100 a month toward your loans is worth about the same as a $1,706 raise. If one offer pays $1,500 more but has no loan benefit, the lower offer with repayment help leaves you ahead. That’s worth weighing when you negotiate your first salary.

Does Repayment Assistance Affect RAP, IBR, Or PSLF?

Tax-free repayment assistance doesn’t raise your income-driven payment. RAP and IBR base your payment on adjusted gross income, and Section 127 payments up to $5,250 are excluded from it. Only the portion above $5,250 (or a taxable PTO exchange) adds to AGI and can nudge your Repayment Assistance Plan payment higher.

The bigger question is whether you expect forgiveness. Public Service Loan Forgiveness wipes out the remaining balance after 120 qualifying monthly payments. Extra money from your employer doesn’t add months, so it mostly shrinks the balance that would have been forgiven anyway. The same logic applies to IBR forgiveness after 20 or 25 years.

That matters because many of the hospitals on our list are nonprofits, which are often qualifying employers for PSLF. If you’re a nurse on a clear PSLF track, a hiring-commitment program pays off debt that PSLF would likely erase. It still works as insurance if you might leave public service before 10 years. In that case it can be worth more than a forgiveness plan you never finish.

Keep making your required payment no matter what. Ask your servicer to apply employer payments to principal so your due date doesn’t advance, and check that the payments arrive each month. If your loans recently moved, our list of federal student loan servicers shows who holds them now.

Repayment Assistance Vs. A 401(k) Student Loan Match

Student loan repayment assistance lowers your loan balance, while a 401(k) student loan match builds retirement savings. Repayment assistance is the best fit if you plan to pay your loans off in full. The 401(k) match is often better if you’re on track for forgiveness, since the money lands in your account instead of on a balance that will be cancelled.

What Happens To Repayment Assistance If You Leave Your Job?

Corporate student loan repayment assistance usually stops when you leave, and payments already made are yours to keep. Most programs pay as you go each month, so there’s nothing to give back. Hiring-commitment programs are the exception, because the money is tied to years of service. Loan repayment programs for nurses run by states and the federal government work the same way.

The federal government’s own program shows how strict that can get. Employees must sign a three-year service agreement and repay the money if they leave early, according to OPM’s report to Congress (PDF File). Before you sign a hospital or clinic commitment, ask the same questions you’d ask about state loan repayment programs:

• How long do I have to stay, and does part-time work count?
• If I leave early, do payments just stop or do I owe money back?
• Does a layoff or a transfer to another location change the terms?
• Are the payments taxable above $5,250 a year?

Some corporate programs also have tenure rules on the front end. Adidas and Truist require one year of service, and The Hartford requires six months. Emory Healthcare starts after 90 days, while Fidelity covers eligible roles from day one. A day-one benefit helps most when your student loan grace period ends soon after you start.

How To Find Out If Your Employer Offers Repayment Assistance

The fastest way to find out is to search your benefits portal for “student loan” and then ask HR for the educational assistance program document. Section 127 requires a written plan. If your employer offers tax-free loan payments, that document exists. Many employers list it under financial wellness or education, often right next to tuition reimbursement, which is a different benefit.

Also look for the vendor’s name. Fidelity, Tuition.io, EdAssist, InStride, Clasp and Scholars Network run many of the programs on our list, and each has its own enrollment site. Many hospital programs cover only select positions, so ask recruiters whether a role is eligible. That’s also a good time to compare offers against student loan forgiveness programs you’d qualify for in that job.

How To Ask Your Employer For Student Loan Repayment Assistance

Pitch student loan repayment assistance as a cheap retention tool with a built-in tax break. Employer payments up to $5,250 a year are free of payroll taxes for the company too, since tax-free employer student loan help skips FICA on both sides. Point to competitors on the list above, and suggest a waiting period or cap to keep the cost predictable. A short email to HR or your manager can open the conversation:

If you’re negotiating a job offer instead, ask for it as part of the package. Some employers can’t move salary bands but have more room on benefits. A $100 or $200 monthly loan payment is also worth more than the same cash raise after taxes. Pair it with a plan for the rest of your debt, like the debt snowball or avalanche method.

Frequently Asked Questions

Is Student Loan Repayment Assistance The Same As Student Loan Forgiveness?

No. Repayment assistance is money your employer pays toward your balance, while forgiveness cancels whatever balance is left after you meet a program’s rules. You can have both, but extra payments shrink the amount that would be forgiven under PSLF-qualifying public service jobs.

Does Employer Repayment Assistance Cover Private Student Loans?

Most programs cover both federal and private student loans in the employee’s name. Parent PLUS loans and loans taken out for a child are often excluded, so check the plan rules. If you’re unsure what kind of loans you have, our student loan basics page explains the difference.

Does The $5,250 Limit Include Other Education Benefits?

Yes. The $5,250 tax-free limit covers student loan payments and any tuition help from the same employer combined. Anything you receive above $5,250 in combined education benefits in a year is taxable wages. That matters most for workers going for an MBA or other graduate degree on the company’s dime.

Does My Employer Pay My Servicer Or Me?

Most employers pay your loan servicer directly. The IRS also allows payments to the employee, as long as they go toward qualified loans. Either way, keep your own payment going and confirm the employer money shows up on your statement. If you also plan to refinance your student loans, tell HR so the program can update the lender.

Do Government Employers Offer Student Loan Repayment Assistance?

Yes. Federal agencies can pay up to $10,000 a year and $60,000 total through the federal Student Loan Repayment Program, though each agency decides whether to offer it. Some state agencies and the military have their own programs, which our page on student loan help for military borrowers covers.

How Much Do Companies Usually Pay Toward Student Loans?

Most corporate programs pay $100 to $300 a month, with lifetime caps of $6,000 to $15,000. Healthcare hiring programs pay far more, often $25,000 to $90,000 over two to four years. Even at $100 a month, the benefit is worth checking before you decide between repayment plans or paying ahead.

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Robert Farrington

Robert Farrington is the founder of The College Investor and is widely recognized as one of the nation’s leading voices on student loan debt and saving for college. He holds an MBA from UC San Diego Rady School of Management and has spent over 15 years researching, writing, and advising on student loans, 529 plans, financial aid programs, and saving and investing for young professionals.

Robert has been featured in the The New York Times, The Wall Street Journal, The Washington Post, NBC News, and Forbes, where he has been a regular personal finance contributor for over a decade. His work combines both professional expertise and personal experience – he successfully navigated his own student loan repayment journey and has helped thousands of readers do the same.

He is committed to making the intersection of personal finance and education transparent and accessible. You can learn more about Robert on the About Page or on his personal site RobertFarrington.com.