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Student Loan Relief or Paid Vacation? These Workers Get a Choice

By Bloomberg

Starting next year, U.S. employees at insurance company Unum Group will have a choice: The company will put money toward their student loans, if the worker gives up five paid vacation daysRead full story

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  • There’s over a trillion dollars of student loan debt; Could be one of the causes of the crash that’s coming. That definitely takes precedence I’d think. Hopefully a populist gets voted in to enact policy to ease the strain.

  • Michael Andrews
    Michael AndrewsFounder & CEO at MPA Global

    Pay off the student loans since for those who have large loans are often crushed by that debt for years. A vacation is brief interlude that will still leave you with debt that is always hard to pay down

  • “Unum employees get at least 28 days of paid time off, nearly double the 15 paid days the average U.S. worker gets, according to the Bureau of Labor Statistics.”

    Under these circumstances, where Unum is stipulating an employee give up 5 vacation days out of 28, it really is a no-brainer. Besides, even if Unum offers almost double the average vacation days, American working culture universally shuns someone taking advantage of that perk. Therefore, why not use it towards loan repayment? It’s far

    “Unum employees get at least 28 days of paid time off, nearly double the 15 paid days the average U.S. worker gets, according to the Bureau of Labor Statistics.”

    Under these circumstances, where Unum is stipulating an employee give up 5 vacation days out of 28, it really is a no-brainer. Besides, even if Unum offers almost double the average vacation days, American working culture universally shuns someone taking advantage of that perk. Therefore, why not use it towards loan repayment? It’s far more important than a few vacation days most people never use anyway.

  • M Noble
    M NobleWriter

    Higher wages and more vacation time for workers. Less pay for executives. Fixes everything.

  • Steven Rodas
    Steven RodasReporter at machineByte

    Dig it!

    Think it can be ironed out. Especially given that this formula may not be easily-replicable for companies that have significantly less vacation days (unlike this company’s 28) or unlimited PTOs.

  • It feels for me something like this would incentivize people to work for companies rather than enabling them to try out new things such as entrepreneurship.

  • Catherine Tannahill
    Catherine Tannahillprof, teacher

    With the generous benefits, this looks like a very good option , especially for those wanting to pay down their debt & likely not using all their vacation time anyway. It's an option/choice not a requirement.

  • Jim Wayne
    Jim Wayne

    I like it. Student loans can be a life long burden. This helps workers who might not have other resources to stack against their student loans. Smart.

  • David Yakobovitch
    David YakobovitchAI Professor at Galvanize

    This is creative, possibly beneficial, but almost sadistic. Because my education costs me money, I need to work harder without vacation to pay off a broken system?

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