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PopeTX28

A choice between 401k or payment towards student debt

There are businesses that offer benefits such as matching employee contribution towards 401k. But I'm curious if there are businesses that will give employees the choice to either choose a 401k plan or student loan payment plan. The employer would contribute the same % regardless of what you choose, as long as you also match the required %.

 

And let's say, you either: A) Don't have any student debt, B) Finally finished paying off your student debt, or C) Rather deal with student debt without employer intervention, then you could simply switch to a 401k plan.

 

Has anyone seen this practiced by an employer? Just curious.

Tucker933 likes this

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Tiddy-bits:

Never even heard of this was a thing. Sounds like a possibility for paid internships.

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"You're nothing but a thing to me." -Tucker933 2016   

"Mine's not huge, but neither are my hands, so it's a real good fit." -Badga666 2017                

"It's not incest until it's in." -Caesar 2017

"Poison dart frogs aren't poisonous. Mankind is a poison and the dart frogs are the cure."-Somewhere on the internet 

"I felt left out so I added myself to your signature." -Pfhunkie 2020

"Go for the balls!" -ShikuTeshi 2020

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I know many employers have tuition options for courses that benefit their field of work, with portion paid based on grades. Haven't heard of it as a general thing though.

PopeTX28 likes this

Oddly, this is familiar to you... as if from an old dream.          

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For the plumbing company I work for, they will reimburse you the full cost of school at the end of each year if you bring in proof you passed. It comes out to about 1K, so that's nice.

 

This same company is pretty laid back, and if I asked them to put the percent they match for my 401k into my student loans they totally would. To them it's been budgeted for anyway and they love to see their employees make responsible financial decisions. Not a lot of them do, lol.

Edited by Sunstriker7
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Kavawuvi: one of these days these glutes are gonna squawk all over you

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Speaking of 401k, what do your guy's companies offer? Mine just does 50% match up to 4%.

PopeTX28 likes this

Oddly, this is familiar to you... as if from an old dream.          

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4% at 50% for me.
My sister gets 4% at 100%.


"You're nothing but a thing to me." -Tucker933 2016   

"Mine's not huge, but neither are my hands, so it's a real good fit." -Badga666 2017                

"It's not incest until it's in." -Caesar 2017

"Poison dart frogs aren't poisonous. Mankind is a poison and the dart frogs are the cure."-Somewhere on the internet 

"I felt left out so I added myself to your signature." -Pfhunkie 2020

"Go for the balls!" -ShikuTeshi 2020

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