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PwC Pays Off $25 Million of Employees' Student Debt

May 22, 2019

PricewaterhouseCoopers, the auditing and professional services company, is one of several large employers that in recent years has begun paying down employees' student debt, in part as a recruiting tool. PwC said this week that it has paid $25 million toward the student loan debt of its employees since creating the pay-down program a few years ago.

The auditing company offers $1,200 in loan repayment per year for up to six years for its associates and senior associates. It said employees from minority groups are more likely to use the benefit, with 62 percent of black employees and 52 percent of Latino employees opting in, compared to 47 percent of white employees and 22 percent of Asian American employees.

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Paul Fain

Paul Fain, Contributing Editor, came to Inside Higher Ed in September 2011, after a six-year stint covering leadership and finance for The Chronicle of Higher Education. Paul has also worked in higher ed P.R., with Widmeyer Communications, but couldn't stay away from reporting. A former staff writer for C-VILLE Weekly, a newspaper in Charlottesville, Va., Paul has written for The New York Times, Washington City Paper and Mother Jones. He's won a few journalism awards, including one for beat reporting from the Education Writers Association and the Dick Schaap Excellence in Sports Journalism Award. Paul got hooked on journalism while working too many hours at The Review, the student newspaper at the University of Delaware, where he earned a degree in political science in 1996. A native of Dayton, Ohio, and a long-suffering fan of the Cincinnati Bengals, Fain plays guitar in a band with more possible names than polished songs.

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