Only about 4% of companies offer employer-sponsored student loan repayment benefits, according to the 2018 Employee Benefits Report, a survey by the Society for Human Resource Management (SHRM).

Student loan borrowers who get an employer’s student loan repayment benefit, and can make extra payments, will pay off their debts faster and pay less in interest.

Consider this: A student loan borrower with $27,000 in loans at an interest rate of 5% who pays $286 a month will be debt-free in 10 years and pay $7,320 in interest. But with $100 a month from an employer’s student loan repayment benefit added to the loan payment, the borrower shaves off over three years of payments and saves $2,282 in interest.

Employers are increasingly responding to the needs of an indebted workforce by offering student loan repayment as a benefit. Employers that offer the benefit often use companies like IonTuition or Gradifi, and offer a monthly benefit — typically about $100 — over a certain number of years, or up to a lifetime maximum.

Here’s what student loan repayment benefits look like at 10 major U.S. companies:

Aetna

Industry: Insurance

Benefit details: Full-time employees: match up to $2,000 per year, with a $10,000 lifetime maximum. Part-time employees: match up to $1,000 per year, with a $5,000 lifetime maximum.

CommonBond

Industry: Marketplace lending

Benefit details: $1,200 per year, until the loan is paid off.

Estee Lauder

Industry: Skin care and makeup

Benefit details: $100 per month, with a lifetime maximum of $10,000.

Fidelity Investments

Industry: Financial services

Benefit details: $2,000 per year, with a lifetime maximum of $10,000.

LiveNation

Industry: Events promotion

Benefit details: $100 per month, or $1,200 per year, with a lifetime maximum of $6,000.

Natixis Global Asset Management

Industry: Asset management

Benefit details: $1,000 annual benefit — up to $83.33 per month, for a lifetime maximum of $10,000 over 10 years.

Nvidia

Industry: Technology

Benefit details: Recent graduates (within the last three years) can apply for reimbursement of $6,000 each year to help repay student loans, up to $30,000.

Penguin Random House

Industry: Publishing

Benefit details: $100 per month, up to $9,000 for up to 7.5 years.

PricewaterhouseCoopers

Industry: Professional services

Benefit details: $100 per month, or $1,200 per year, for up to six years.

Staples

Industry: Office supply retail

Benefit details: $100 per month for 36 months.

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