The City of Memphis is giving its employees aid to pay off student loans.
Memphis is the first city to heed the call of those who need help paying off student loans, and it is a huge move.
Those working a full-time job who need help paying student loans debt might want to consider relocating to Memphis.
CNN Money has the full story.
Memphis Helps Workers Pay Off Their Student Loans
A small but growing number of private employers are offering their workers extra cash to go toward paying down their student debt.
Now local governments are starting to join the trend. Starting July 1, full-time employees of the city of Memphis will be eligible to receive $50 a month for their loans.
Despite such great news about help to pay off student loans, one couldn’t help but wonder why it didn’t arrive sooner. It is a very smart and perfectly executed move.
Financial allowance for student loan repayment should be part of the benefits of any employee.
After all, these companies require a college degree for anyone who wishes to qualify for any position.
It is therefore only fitting and, quite frankly, noble, for them to return the favor and allocate money to help their persevering employees pay off student loans.
Petition demanding DeVos not use just one student loan company gains over 18,000 signatures https://t.co/EH3RVNi9dE pic.twitter.com/2nzZml1XPp
— The Hill (@thehill) June 20, 2017
Going Federal
The beginning of this development in a number of private companies is good, but its implementation on the federal level is even greater.
The efforts of private companies are laudable, but with Memphis reproducing this benefit system, the government and, consequently, the entire nation enter the picture.
You’ll pay more for your federal student loan starting Sat https://t.co/yiC9wjRnzI
Enroll in to #StudentLoanForgiveness ASAP 424-355-2777— Student Debt? (@_StudentDebt) June 26, 2017
Memphis’ move to help its employees pay off student loans is not only a pragmatic but, more importantly, a symbolic one.
It suggests that the possibility of aid to pay off student loans becoming a nationwide mandate is not far from coming true.
And it is about time.
Want student loan forgiveness? Here’s how to qualify via @CNNMoney #studentloans #studentloanforgiveness https://t.co/2gDLKaVpC3
— SimpleThriftyLiving (@simplethrifty) May 16, 2017
Memphis’ latest act puts public service at the forefront of the discussion of student loans repayment and helps open doors for the systematization of student loan aid. Everyone needs it.
A Life of Public Service
Memphis is offering city employees a student loan repayment program. How it works: https://t.co/0CQyG6jiDS pic.twitter.com/1oYo6t9JCF
— Forbes (@Forbes) June 18, 2017
With Memphis’ God-send help, public service will finally get the attention it deserves. It cannot be stressed enough: public service is the foundation of any flourishing nation.
The latest developments in Memphis help bring to the fore another truth: that the local and the federal governments are never truly separate.
Therefore, instead of pouring in hours and millions of dollars into efforts to tweak and reform the educational and student loan system, the government should be taking its cue from Memphis.
By making college education an affordable necessity with this new student loan allowance, the country will be encouraging its youths to go to college and serve the nation.
Finally finished with college! Best tips and tools to help you figure out student loan debt#payingstudentloanshttps://t.co/5IIC7ZQLoo pic.twitter.com/dklAf0OOrS
— Mackey Advisors™ (@MackeyAdvisors) June 16, 2017
It’s a win-win. A driven and educated young generation is the cornerstone of any successful country, and with this generation set on devoting their lives to public service, this country will reach heights no country has ever reached before.
Watch this video from the Bank of America for more information on how to pay off student loans:
There are more ways to help you pay off student loans. Here’s our guide to the Public Service Loan Forgiveness Program. What are your thoughts about this recent development? Comment them below.
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