Major accounting firm to offer student loan allowance as new perk

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."

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE

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.

Sign up