The Hartford Announces Loan Repayment Plan To Help Reduce Employees Student Debt
August 08 2019 - 9:00AM
Business Wire
Program to launch in early 2020 for eligible employees
The Hartford has announced a new student loan repayment program
to help its employees pay down student debt. According to a recent
study by Experian, student loan debt in the United States reached
an all-time high in the first quarter of 2019 totaling $1.4
trillion, with an average student loan debt per borrower of
$35,3591.
“The increasing cost of student debt continues to be a concern
for the country and our employees,” said The Hartford’s Chief Human
Resources Officer Marty Gervasi. “It is a financial burden that can
cause a great deal of stress, and we want to help employees have
more financial flexibility, enabling them to focus on their life
and careers.”
Under the new program set to begin in early 2020, nearly 17,000
U.S. based employees will be eligible to receive a lifetime total
of $10,000 toward their student loan debt. For participating
employees, The Hartford will contribute funds to their loan
providers directly each month.
The student loan repayment program is the newest feature in a
broader benefits offering provided by The Hartford to help
employees facing the student debt crisis. In July, the company
launched a student loan counseling and refinancing benefit in
partnership with Gradifi. For employees, as well as their relatives
and friends, pursuing a college degree or with student debt,
Gradifi can assist with setting savings goals, finding available
scholarships and refinancing student loans through a select group
of lenders. In addition, The Hartford offers tuition reimbursement
for employees pursuing undergraduate and graduate degrees.
1Source: Experian
About The Hartford
The Hartford is a leader in property and casualty insurance,
group benefits and mutual funds. With more than 200 years of
expertise, The Hartford is widely recognized for its service
excellence, sustainability practices, trust and integrity. More
information on the company and its financial performance is
available at https://www.thehartford.com. Follow us on Twitter at
www.twitter.com/TheHartford_PR.
The Hartford Financial Services Group, Inc., (NYSE: HIG)
operates through its subsidiaries under the brand name, The
Hartford, and is headquartered in Hartford, Conn. For additional
details, please read The Hartford’s legal notice.
HIG-C
Some of the statements in this release may be considered
forward-looking statements as defined in the Private Securities
Litigation Reform Act of 1995. We caution investors that these
forward-looking statements are not guarantees of future
performance, and actual results may differ materially. Investors
should consider the important risks and uncertainties that may
cause actual results to differ. These important risks and
uncertainties include those discussed in our 2018 Annual Report on
Form 10-K, subsequent Quarterly Reports on Forms 10-Q, and the
other filings we make with the Securities and Exchange Commission.
We assume no obligation to update this release, which speaks as of
the date issued.
From time to time, The Hartford may use its website to
disseminate material company information. Financial and other
important information regarding The Hartford is routinely
accessible through and posted on our website at
https://ir.thehartford.com. In addition, you may automatically
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version on businesswire.com: https://www.businesswire.com/news/home/20190808005450/en/
Media Contact: Leon Davis 860-547-8668
leon.davis@thehartford.com
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