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Want to Hire Millennials? Better Help Repay Student Debt

  • Loan payment assistance catching on as a new form of benefit
  • Firms seek to lure debtor generation arriving in labor market
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Like millions of her peers, Nicole Read graduated with thousands of dollars of debt. Unlike most of them, she’s getting direct help from her employer to pay it back.

The 26-year-old’s job at event organizer Live Nation Entertainment in Beverly Hills, California, comes with a benefit that may be starting to catch on at U.S. companies: Contributions to her student loan bills. Offering such an incentive helps businesses lure prospective employees as they grapple with tight labor market conditions marked by a jobless rate near its lowest in almost five decades.