Studies show 70 percent of college graduates are paying off student loans. The good news is some are getting help from an unexpected source. Tech companies are known for dishing out benefits like free lunch for employees but now hundreds of less flashy firms are offering student loan assistance to their workers. Steve Moore and Rob West discuss Student Loan Assistance on this edition of MoneyWise Live.
In this episode of MoneyWise Live, Rob answers these questions about this topic:
- Student loan assistance from an employer sounds like a great thing but why would employers want to help workers pay off their school loans?
- Why not just give them a raise?
- Is this just a niche thing or the way of the future?
- Are companies actively promoting student loan assistance as a benefit?
- Anything to watch out for with these student loan assistance programs?
Next, Rob, Steve and Mitch answer some listener questions at 800-525-7000 or via email at Questions@MoneyWiseLive.org:
- If you've tried to get a credit card but can't because all you're offered is a prepaid card because you have no credit rating, how does one start getting credit?
- How do you space out your expenses to make them stretch out an entire pay period. coach
- If your daughter has credit card debt, is it a wise move to help her by getting a loan on your 401(k)?
- If you're retired and living on a fixed income, you're currently tithing but feel like you're squeezing your finances by doing so, what should you do?
- What are ETFs and why should you considered trading in them? soundmindinvesting.org
- How do you decide whether to keep an older vehicle, buy a new one or buy a used car?
- If you plan on retiring next year and have some cash value in a life insuarnce policy, should you consider cashing it out to pay off your mortgage?
Be sure to check out our new website at MoneyWiseLive.org to connect with a MoneyWise Coach or access our books, videos, or any of our free helpful resources. Thanks for your prayerful and financial support that helps keep MoneyWise Live on the air. And if you'd like to help, just click the Donate tab at the top of the page.