Select Mississauga Employees Can Pay Off Student Debt Through New Project
We all need a little break with tuition.
And one company will be making that a little easier for some students.
If you currently work at Indigo and are trying to pay off your student loans, then you're in luck.
On Oct. 3 Great-West Life announced that Indigo will be the first national employer to pilot their new program - the provider’s student debt savings program.
This is the first program of its kind in Canada.
“We are thrilled to welcome Indigo to Great-West Life’s student debt savings program pilot,” Brad Fedorchuk, Senior Vice-President, Group Customer Experience and Marketing for Great-West Life, said in a recent press release.
“Today’s average post-secondary student accumulates $27,000in student debt by the time they leave school, and takes about 10 years to pay it off. Often, this means delaying important life goals like starting a family or buying a home. Our student debt savings program was designed specifically for visionary employers like Indigo, who wish to demonstrate their deep understanding of what is meaningful to their employees. It’s just an unbelievable fit, and we are anticipating great outcomes.”
According to a recent press release, this program will help students with their retirement savings account.
When an Indigo employee makes a payment on their Canada or provincial government student loan, the company will make a matching contribution to their retirement savings account within the company's retirement and savings plan.
To benefit, employees must join the program and send proof of consistent student loan payments to Great-West Life.
“Our employees are our number one priority,” Gil Dennis, Executive Vice-President, Human Resources and Retail for Indigo, said in a recent press release.
“By being first in Canada to launch Great-West Life’s innovative student debt savings program, we are reinforcing our commitment to our employees and to supporting them in their careers and in achieving their life goals.”
Initial responses to the announcement of the program have been supportive.
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