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PricewaterhouseCoopers Will Give Employees $7,200 for Student Debt

The accounting firm plans to serve up a perk employees want but few companies offer.
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Starting in July, accounting and consulting firm PricewaterhouseCoopers will offer some employees a practical perk: $1,200 a year for up to six years toward their student debt. The benefit will be available to those with associate and senior associate titles, entry level positions that make up 45 percent of PwC's 46,000-person U.S. workforce. 

Considering that 71 percent of graduates come out of school with an average debt burden of $35,000, it's not surprising that young hires yearn to repay student loans. A recent survey by Iontuition found that 80 percent of 1,000 people surveyed wanted to work for a company that offered student loan repayment assistance. Yet few businesses do this. Many organizations offer tuition assistance, but only about 3 percent have student loan repayment programs, according to a 2015 survey by the Society for Human Resources Management.