Make a difference with a student loan repayment benefit.

Impact your employees’ financial well-being with employer student loan contributions. With Highway’s easy-to-use platform, you can get started today.

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What is an employer student loan repayment benefit?

An employer student loan repayment benefit (also called “student loan contributions” or “student loan assistance”) is a benefit plan that allows companies to pay back a portion their employees’ student loans on their employees’ behalf.

Thanks to the 2020 CARES Act and the Consolidated Appropriations Act of 2021, employers can contribute up to $5,250 per employee per year tax-free to employees’ student loans as educational assistance under IRC Section 127.

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Why contribute to student loans? It's a win-win for everyone.

It's tax-free.

Student loan contributions are tax-free for employers and employees.

It attracts the next generation of talent.

41% of recent grads ranked student loan repayments in their top 3 desired benefits.

It reduces employee turnover.

86% of employees would commit for 5 years if employers helped pay back their student loans.

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My experience with Highway has been absolutely awesome! My employees now have a valuable benefit that is easy to set up, easy to manage, and fairly priced. We recommend Highway without reservation!

Andrea Mendez, LCSW-C

Founder of New Beginnings Psych

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Set your business apart with a benefit that makes a real difference.

Now that student loan payments have resumed, your employees need your help more than ever. Get set up today to help employees with this pressing financial burden.

86%

of employees with loans say they aren’t ready to make payments again.

44%

say they can’t afford their monthly payment.

27%

say 1/3 of their paycheck goes to loan payments.

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How it works

Create your benefit plan.

Decide contribution amounts and any eligibility criteria with our team.

Onboard with Highway.

Provide access to your employee roster to get set up on the Highway platform.

Announce your benefit.

Once you announce, your employees can enroll in minutes through Highway!

Let Highway manage the rest.

Each month, Highway will verify employees’ eligibility and facilitate contributions directly to their student loans!

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Tax-free student loan contributions go further than a raise.

Student loan contributions are tax-free for employers and employees alike. Eliminate the tax drag on contributions up to $5,250 per employee per year.

Salary increase

Student loan benefit

Total tax drag*

Annual amount

$5,250

$1,589

Total available for student loan payments

$3,661

$5,250

*payroll & income taxes @ 30.25%

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Start creating your benefit plan for free.

Set up your basic eligibility criteria and decide your contribution amounts with our free plan creator. Accelerate your benefit launch by getting started now.

Create your plan now