Invest in You: Ready. Set. Grow.

Some employers are starting to pay off student loans — here's how it works

VIDEO3:3703:37
Five ways to get your employer to help pay off your student loans

Americans owe more than $1.7 trillion in student loans, and employers are using that debt as a way to hire new talent. 

Many companies are starting to offer student debt relief alongside perks like vacation, retirement accounts and health insurance, according to Asha Srikantiah, head of the student debt program at Fidelity Investments. 

The benefits can range anywhere from free guidance to direct payments designed to go above and beyond your monthly minimums. With the coronavirus halting travel, some businesses are now allowing workers to use compensation for company-provided time off to go directly to their student loans.

Check out this video for a full breakdown of how the repayment assistance works and to learn how you might be able to get your current employer to start pitching in on your loans.  

More from Invest in You:

'Predictably Irrational' author says this is what investors should be doing during the pandemic
Coronavirus forced this couple into a 27-day quarantine amid their honeymoon cruise
How to prepare for a family member with COVID-19

SIGN UP: Money 101 is an 8-week learning course to financial freedom, delivered weekly to your inbox.

Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.