A major U.S. company is offering a student loan assistance program to its workers as the three-year student loan pause comes to an end.
Source: ARDEX
Adidas Student Loan Benefit
The major U.S. athletic footwear and apparel brand, Adidas, announced that the company is offering a $100 student loan benefit to its full-time employees per month.
President of Adidas North America, Rupert Campbell said in a statement, “This is an exciting new program for our employees who said that student loan support would significantly help them.”
Adidas’ move was applauded by student loan advocates and certain benefits experts. According to Reilly Anderson, a Portland benefits consultant at CSNW Benefits, companies must provide benefits that are relevant to a generation of their young workers.
The new assistance program of the company could shorten their employees’ repayment period by almost five years, Adidas said, according to Oregon Live.
“Paying for education should not hold our teammates back, so we are happy to support them with this benefit,” Campbell said.
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Adidas New Financial Wellness Program
Young employees can apply for new student loan assistance after being employed at Adidas for one year. Full-time employees from all Adidas divisions can sign up for the company’s new benefit program.
Adidas also launched a financial wellness program in addition to the student loan benefit. The program provides employees free access to a variety of financial resources such as financial coaches, seminars, and webinars, according to Society for Human Resource Management.
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