Accounting giant Pricewaterhouse Coopers (PwC) announced Tuesday that it will offer a student loan stipend to select employees starting in July of 2016.
Just under half of the firm's 46,000 American workers will be eligible for the new perk, which will pay $1,200 per year for up to six years — totaling a quarter of the average student loan load of $28,400 — with no repayment or other contract obligation.
PwC is not the first company to offer a benefit like this, but it is likely the largest, which means this recruiting boon could well be trendsetting. "We saw this as a way to provide leadership on a major societal issue, as well as something that's really important to our people," said PwC's Michael Fenlon. "We believe we've got to be part of the solution."
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Colleges are being overwhelmed with active shooter hoaxesIn the Spotlight More than a dozen colleges have reported active shooter prank calls
-
US kills 11 on 'drug-carrying boat' off VenezuelaSpeed Read Trump claimed those killed in the strike were 'positively identified Tren de Aragua Narcoterrorists' shipping drugs to the US
-
Trump vows to send federal forces to Chicago, BaltimoreSpeed Read The announcement followed a California judge ruling that Trump's LA troop deployment was illegal
-
New York court tosses Trump's $500M fraud fineSpeed Read A divided appeals court threw out a hefty penalty against President Trump for fraudulently inflating his wealth
-
Trump said to seek government stake in IntelSpeed Read The president and Intel CEO Lip-Bu Tan reportedly discussed the proposal at a recent meeting
-
US to take 15% cut of AI chip sales to ChinaSpeed Read Nvidia and AMD will pay the Trump administration 15% of their revenue from selling artificial intelligence chips to China
-
NFL gets ESPN stake in deal with DisneySpeed Read The deal gives the NFL a 10% stake in Disney's ESPN sports empire and gives ESPN ownership of NFL Network
-
Samsung to make Tesla chips in $16.5B dealSpeed Read Tesla has signed a deal to get its next-generation chips from Samsung
-
FCC greenlights $8B Paramount-Skydance mergerSpeed Read The Federal Communications Commission will allow Paramount to merge with the Hollywood studio Skydance
-
Tesla reports plummeting profitsSpeed Read The company may soon face more problems with the expiration of federal electric vehicle tax credits
-
Dollar faces historic slump as stocks hit new highSpeed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year
