Thursday, June 8, 2017

City to Assist its Employees with Student Loans

Posted By on Thu, Jun 8, 2017 at 10:37 AM

click to enlarge city-of-memphis.png
City of Memphis employees will now be able to receive monthly contributions toward their student loans, as today the City announced the launching of its Student Loan Reduction Program.

Memphis will be the first city in the country to offer this type of benefit, which beginning July 1, will give eligible Memphis city workers a monthly contribution of $50 toward their principal loan repayments.

In 2016, student loan debt grew by a little more than 3 percent nationally, while in Memphis that number grew by nearly 5 percent.

City officials say that while the program is aimed at help city employees retire their debt faster, the City hopes to build and retain an engaged workforce.

"We are proud to be the first municipality in the country to offer this kind of student debt assistance to our workforce," the City's chief human resources officer, Alex Smith said. "We view this an important investment in our employees."

Keep the Flyer Free!

Always independent, always free (never a paywall),
the Memphis Flyer is your source for the best in local news and information.

Now we want to expand and enhance our work.
That's why we're asking you to join us as a Frequent Flyer member.

You'll get membership perks (find out more about those here) and help us continue to deliver the independent journalism you've come to expect.



Showing 1-1 of 1

Add a comment

Subscribe to this thread:
Showing 1-1 of 1

Add a comment


Readers also liked…

Most Commented On

© 1996-2020

Contemporary Media
65 Union, 2nd Floor | Memphis, TN 38103
Visit our other sites: Memphis Magazine | Memphis Parent | Inside Memphis Business
Powered by Foundation