Consider offering education assistance to attract millennial and Gen Z workers
Federal student loan payments are on pause, but many are still feeling financial stress.
This week, President Biden announced an extension of the pause on federal student loan payments through August 31. This is the fifth extension since the moratorium on took effect in March 2020.
According to the Education Data Initiative, 43.4 million borrowers in the U.S. have federal student loan debt with an average balance, including federal and private loan debt, as high as $40,904.
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