63% of job seekers with student loan debt said they would give up PTO in exchange for help paying off student loan debt, according to a new survey by job-listing site ZipRecruiter.
The weight of student loan debt is heavy: it’s driving borrowers to file for bankruptcy and delay life milestones like buying a home and having kids.
However, exchanging vacation time for help paying off student loan debt may not be a good idea, as it could end up losing you money in the long run.
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American workers have a record amount of student debt — and they’d rather have it gone before going on vacation.
For people with student loan debt who were looking for a job, 63% said they would give up paid time off in exchange for help paying off student loan debt, according to a new survey by job-listing site ZipRecruiter provided exclusively to Business Insider. The survey polled 10,500 active job seekers in the US on SurveyMonkey in July 2019.
The average amount of vacation time people would give up in exchange for student debt relief was 2.3 months, but nearly a quarter of surveyed workers would give up five months of paid time off for help with loans.
While only one-tenth of job postings on ZipRecruiter advertise help paying off employee student debt, the company told Business Insider this perk is increasing in popularity. Major companies like Fidelity, Aetna, and Penguin Random House now have some sort of student debt relief program for employees.
“The big picture is that student loan debt puts an enormous pressure on job seekers,” Julia Pollak, a labor economist at ZipRecruiter, told Business Insider.
Read more: 10 mind-blowing facts that show just how dire the student-loan crisis in America is
Paying off student …read more
Source:: Business Insider