A 401(k) Match for Highly Educated, Deeply Indebted Millennials
- Abbott to match student loan payments with 401(k) contribution
- Unlike other corporate debt relief, Abbott’s plan avoids taxes
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Rariety Monford is being aggressive about her $60,000 in student debt. An engineer at Abbott Laboratories, she puts 14 percent of her salary toward loan payments each month, far more than the required minimum.
“It is my number one priority,” said Monford, 26, who graduated from North Carolina A&T State University in December 2016. She plans to go to graduate school, even if it means more debt -- and short-changing her retirement account -- to pay for it.