Aliah Gibson, a human resources specialist at New York Life, was quoted in a CNBC broadcast and article about companies offering financial wellness perks including student loan repayment programs. These innovative workplace benefits can help tackle the race and gender wealth gap while assisting employers with the current war on talent.

Sharon Epperson, Senior Personal Finance Correspondent, CNBC, first visited his topic when she wrote this story about student loan repayment programs last February that also included NYL’s benefit and an interview with Aliah Gibson.  The story gained a lot of attention which prompted Sharon to update the story to help her audience begin 2022 on solid financial footing.


The impact of student loan debt:

  • Currently there is $1.7 trillion in outstanding student loan debt in the U.S.
  • $929 billion of this debt is held by women
  • Black women have 20 percent more student debt than white women
  • Take an employee with a $26,500 student loan balance. A $100 a month repayment benefit would help the borrower pay off that debt about three years earlier and save more than $10,000 in principal and interest over 10 years, according to EBRI (assuming the employee makes regular minimum payments on the loan with a 4% rate and 10-year term.)

 

The link to the CNBC News Now streaming segment can be found here.

The link to “The News with Shepard Smith” broadcast can be found here.

 Read the entire article here.


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Media contact
Lacey Siegel
New York Life Insurance Company
(212) 576-7937
Lacey_S_Siegel@newyorklife.com

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