Iowa-Based Grocery Store Helping Employees Pay Down Student Loans
If you know someone who works full-time at a Fareway store and still has a mountain of student loan debt, share this wonderful news with them. Beginning January 1, 2019, Fareway is going to give full-time employees up to $100 a month that they can use to help pay off their student loans. That is absolutely awesome.
The announcement came from the Boone-based grocery store chain who says they'll pay up to $5,000 as a lifetime benefit for full-time workers. Yes, they'll give you that $100 a month for over four years, if necessary. You don't have to be great at math to see that's a total of 50 months.
The goal of Fareway Fast Forward, as the company calls it, is to lower the amount of stress over student loans, but that's not all. Business Record says Fareway hopes some employees might consider continuing their education when they otherwise might not due to the cost of higher education.
According to the 2018 employee benefits reports from the Society for Human Resource Management, only 4 percent of U.S. companies offer a benefit that helps employees with student loan repayment.