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Student debt relief may be the newest employee benefit

For many Washington residents, completing a college degree is a great source of pride. It can also be an incredible source of debt, which can take many years to overcome. Economic changes have made the job market rather unstable in many parts of the country, and for many different industries. It is not uncommon for young people to find themselves in need of debt relief just years after completing college.

It appears that employers are sensitive to the debt struggles that young people face. Many companies are beginning to offer student debt relief as a perk of signing on for employment. Student loan repayment assistance is among the most talked about job market perk currently available to American workers. For those who are lucky enough to secure a position that offers this benefit, student loan debt can seem far more manageable.

Unfortunately, many young people will not have access to student loan debt repayment programs through their employment. In addition, it is not uncommon for students to rely on credit cards to help cover expenses while earning their degree. That can mean even more debt accumulated during school, and an even bigger pile of bills to face once a degree is in hand.

One way to achieve lasting debt relief is through personal bankruptcy. While bankruptcy will not likely eliminate the student loan debt, it can take care of many other types of unsecured debt. Bankruptcy is not a decision that should be made lightly, but for many young people in Washington and across the nation,  it is a wise financial move.

Source: nbc-2.com, "Student Loan Repayment To Become 2017's Hottest Employee Benefit", Dec. 21, 2016

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