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How Student Loan Repayment Programs Can Help Alleviate Financial Stress

According to the American Institute of Stress 94% of American workers report experiencing stress at their workplace.

Unfortunately, financial burdens are only contributing to these stress levels. One of the significant factors contributing to employee's financial stress is overwhelming student debt. According to a recent study, 42.9 million Americans owe a total of $1.57 trillion in student debt, with the average individual owing $36,510 in federal loans.

Jania Stout, Managing Director and Co-Founder of Fiduciary Plan Advisors — A OneDigital Company joined the 401(k) Pod(k)ast entitled, “The One and Only Jania Stout on How to De-Stress Working America,” to discuss student loans and the various ways to relieve the American workforce from their compounding stress.

“I think that employers are going to really start to look at student loan payoff programs as a corporate benefit. I really do see a world in the future where that is going to be normal... As gen X and gen Z are entering the workforce, they’re becoming the largest of our labor force. So, we have to start shifting and focusing on what their needs are. But not forget about the retirement plan. We don’t ever want to give the impression that we think they could put their savings for retirement on hold for very long. We have to do this delicately.

She also shared her thoughts on how the focus on student loan debt is impacting retirement planning,

“Yes, because people are so overwhelmed with it, they just think well I'll just save for my, 401k or 403b, and my retirement when I'm done with my student loan debt. I don’t know if you have seen how much debt there is but that might be 20 years. We cannot let people pause for 20 years.”
— Jania Stout, Managing Director and Co-Founder, Fiduciary Plan Advisors — A OneDigital Company

Listen to the podcast, here.

Want to learn more about Jania Stout joining OneDigital? Check out this recent article: OneDigital Acquires Fiduciary Plan Advisors.

Investment advice offered through OneDigital Investment Advisors, an SEC-registered investment adviser and wholly owned subsidiary of OneDigital.

OneDigital Investment Advisors is an SEC-registered investment adviser. Please note the other companies referenced on this website are separate entities from OneDigital Investment Advisors and are not authorized to provide, and do not provide, investment advisory services.

Some information has been obtained from sources we believe to be reliable. OneDigital Investment Advisors makes no representation as to the accuracy or validity of this information.