Do some employers pay off a graduate's student loan?

[doublebronze]

I'm just wondering if any employers pay off student debt as a "golden hello"? I thought I remember reading about it being offered as a benefit a few years ago, but can't find any info about it now. I suppose it's a bit of a fairness minefield as some graduates will have more debt than others.

Students are leaving uni with a debt of £40k+++. I think it would be an exceptional employer that pays all that off, and it would most likely be a very prestigious and competitive job in the first place.

Pretty unlikely these days, given the level of student debt!

Teaching did some repayment of loans for some shortage subjects, but that was probably nearly twenty years ago. It wasn't in one go, they met the monthly student loan repayment as long as you stayed in (state) teaching. But that would have been on the old, old tuition fees, £1200 per year ish, so the total money involved would have been very different!

I doubt it. In my firm grads get a bonus when they pass their professional exams, £10k, but they have to pay it back if they leave within a year of qualifying.

I think some City firms used to give a signing bonus but that was back in the day when they were making tons of it. Never heard of a firm paying off student debt.

Never heard of this. There are student loan forgiveness programmes in the US for people who spend time in low-paid public service jobs, as I recall, but I've never seen paying off UK student loans listed as a benefit.

No harm making it part of the negotiation. If a firm is very keen to hire you then a student debt is a drop in the ocean in the grand scheme of things.

Why do you ask? Are you hoping your child could get loans paid?

Have you looked at degree apprenticeships?

Dd is getting a lump sum (military) but can choose what to do with it, she's buying a house (well deposit) with hers

Never seen this in the UK although some firms will pay for educational courses undertaken by new recruits (eg legal practice course) and many companies have programmes to fund further education for existing employees (eg masters, professional courses). But that's different than wiping out pre-existing debt.

I work in recruitment and have never heard this

No but some will pay for postgraduate courses and give a maintenance allowance during the masters even if doing this straight from Bachelors degree eg. law firms

Maybe it was an incentive in the past. I certainly haven't come across it since 2012.

Never heard of this.

Not every applicant will have a student loan, so what would firms offer those candidates?

More likely to get an apprenticeship and the employer pay for part time degree.

A lump sum payment for every successful applicant would be fairer as not everyone has a student loan.

No loan payoff but DS2 got generous relocation lump sum and annual bonus for year in advance. I think that's more common. Haven't heard of student loans being repaid.

Not as far as I know. The top firms of solicitors fund the postgraduate stage of courses for potential solicitors once they accept a 2 year job to train with that firm after those courses which means for that post grad year the student does not obtain extra post grad debt / no master's loan but they do not pay the student debt on the original degree off.

It’s not something I’ve come across - maybe it was trialled, but I can’t imagine it would be particularly popular as most graduates would prefer a cash sign on bonus to spend as they wish.