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Should businesses help employees pay off their student loans?

HOUSTON, TX (May18, 2018)

Memorial Hermann Health System, which owns 15 hospitals in the Houston area, started offering student-loan repayment in 2015 to attract employees with one to three years of experience. The health system makes 270 loan payments each quarter, and the retention rate of nurses who have signed up is 95 percent, compared to the average retention rate for nurses, which is 88 percent, says Lori Knowles, the chief human resources officer. “We believe in growing and developing our employees, and this is one of the things we can point to and show that we mean it,” she says.

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