Bright Horizons EdAssist Solution Endorses CARES Act Student Loan Repayment Extension
Under the new provision, employers can make tax-free contributions of up to
Bright Horizons EdAssist Solutions partners with over 200 employers to offer workforce education programs, and began creating student loan repayment programs for employers in 2015. While around 1 in 10 employers offered a student loan benefit prior to the coronavirus pandemic, according to the
“This is terrific news, as we have seen the profound impact that addressing student loan debt has had for our early-adopter clients,” said
In 2019 alone, Bright Horizons EdAssist Solutions helped clients’ employees:
-
Save close to
$1 Billion in additional student loan debt through direct tuition payments -
Save almost
$17 million on principal through student loan debt payments -
Save
$10.6 million in interest - Remove 52,470 months off the life of their loans (an average of 3 months per year).
“We have been offering student loan repayment benefits to our staff for the last couple of years through Bright Horizons,” said
About
Bright Horizons® is a leading global provider of high-quality child care and early education, back-up care, and workplace education services. For more than 30 years, we have partnered with employers to support workforces by providing services that help working families and employees thrive personally and professionally. We operate approximately 1,000 child care centers in
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kristen.raymaakers@brighthorizons.com
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