<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=690758617926394&amp;ev=PageView&amp;noscript=1">
Skip to content
Mega Menu_newspaper_438174_24px Payroll Country Blog

Your constant source for helpful, useful, and entertaining content about payroll, human resources or anything else that will help you manage your workforce.

Mega Menu_Video Series_clapper_438174 Video Series
PeopleWork

Conversations with experts in a wide range of HR/HCM topics, for the benefit of anyone whose job it is to manage a workforce or take care of people.

Ashley Explains

Our Implementation Manager Ashley Hamilton gives you the facts about tax, labor laws, and a whole lot more.

Unfiltered HR

Our very own Jen Strait and Emily Martin from Ally HR Partners tackle common HR issues and provide practical advice to help you manage your workforce more effectively!

Mega Menu_Demo Video Library_video-player_438174 Demo Video Library

Welcome to our comprehensive - yet growing - library of instructional how-to videos that focus on a variety of functions across our software platforms. Scroll down and filter by category or use the search bar to find exactly what you're looking for.

Mega Menu_Resource LIbrary_book_438174 Resource Library

A robust library of guides, kits and tools designed to educate and support anyone responsible for payroll, HR or managing a workforce of people.

Mega Menu_Employer Guides_user-guide_438174 Employer Guides

An extensive and ever-growing library of super handy employer guides on everything from human resource topics, important Labor Law updates, how to approach payroll for your company's industry, and much more.

Mega Menu_Software Downloads_download_438174 Software Downloads
Software Downloads

Quickly reference and download software platforms, installation guides, middleware and other critical files you may need as a client to properly process critical payroll and HR functions with Complete Payroll. 

Mega Menu_What Is Payroll Country_landscape_438174 What is Payroll Country?

In Payroll Country, people come first, manners aren't optional and a job isn't done until it is. Sure, we're headquartered in a small, rural town. But Payroll Country isn't just where we're from. It's our philosophy of how business should be conducted. Welcome!

Mega Menu_Careers_career_438174 Careers
Careers in Payroll Country

It's not about where we work, it's about how we work. And, more importantly, how we work together.

Mega Menu_Client Referral Program_teamwork_438174 Client Referral Program

Earn payroll credit for bringing your colleagues and friends to Payroll Country!

Mega Menu_Client Testimonials_rating_438174 Client Testimonials

Check out what some of our most loyal clients have to say about their Payroll Country experience, or leave some kind words about your own. 

Thinking about offering a student loan repayment benefit?

September 20, 2017

Written by Complete Payroll

Thinking about offering a student loan repayment benefit-.png

Thinking about offering a student loan repayment benefit-.png

Businesses looking to attract new employees must distinguish themselves from the competition, especially if they’re unable to pay salaries above the market value. Creative benefits often do the trick, particularly if they address specific needs.

Student loan repayment benefit

With more and more college graduates entering the workforce and more and more of them graduating with substantial debt, some companies are enticing prospective employees with a student loan repayment benefit.

Click to learn more about HR Support Center

Upsides 

The benefit is a rare, sought-after gem. Over 70% of college graduates have student loan debt, 76% of respondents to a 2015 American Student Assistance survey said the benefit would be a contributing factor to their accepting a job, and only 4% of companies offered the benefit in 2016. 

Downsides

It has downsides, though. For one, it helps only employees with current student loan debt, not those who’ve already worked hard to pay off their debt or never had any in the first place. The benefit could therefore be viewed as unfair and become a cause of contention in the workplace. For another, it’s considered taxable income, and at present there’s no tax write-off for employers who offer it.

Employer takeaways

Employers, however, do have some leeway on how to offer the benefit. The amount of the benefit can be offered monthly or as a lump sum, it can be capped, and it can be tied to an employee match. A waiting period is also fine.  

If you’re looking for an enticing benefit to attract new talent, a student loan repayment benefit may be something to consider. If this benefit isn’t desirable or doable, that’s okay. We realize this benefit isn't one that will work for most employers, at least at this point in time, but we want to keep you up to date on employee benefit trends. The important thing is that you appeal to potential employees by distinguishing yourself, and there’s no one way to do that.

Learn more about Complete Payroll's very own HR Support Center.

DISCLAIMER: The information provided herein does not constitute the provision of legal advice, tax advice, accounting services or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional legal, tax, accounting, or other professional advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation and for your particular state(s) of operation.

Get Instant Blog Notifications

Need Help?

Talk to Us