Foley, a provider of compliance, financial and insurance services for the transportation and employment industries, announced today it is establishing a student loan repayment program for its current and future employees.
According to the Hartford-based company, only 3 percent of organizations offer similar programs. The company sees it as a means for attracting and keeping employees.
The program will contribute $1,000 annually towards an employee’s student loan debt from an accredited provider.
The idea for the program came during management team discussions over how the company can attract talent, Chief Financial Officer Mary Henry said. “We thought about increasing education around our strongest benefits, such as our 401(k) match, but one member of our team pointed out something important: how can a potential employee get excited about saving for their retirement when they’re drowning in debt?”
