Naija Tech News (NTN) on 25, and in content, Google announces new benefits for employees: provide $2,500 per year student loan assistance, Google .
According to reports, internal emails revealed that Google’s global welfare chief John Casey told employees on Thursday that starting from 2021, Google will provide each full-time employee with up to $2,500 per year in student loan repayment benefits .
Casey said in an email: “University degrees are out of reach for many people all over the world, and the soaring debt crisis of student loans has widened the already ubiquitous gap between the rich and the poor in the world.” He pointed out , Americans face a student loan deficit of up to $1.5 trillion, twice the amount it was 10 years ago.
Casey also said in a blog post on Thursday that Google’s new benefits hope to help graduates save better, so that they can afford to buy a house and start a family.
Google will first provide this new benefit in the United States, and then cover more employees worldwide. Casey said that in the fourth quarter of this year, Google will “collect more information to prepare for the establishment of benefits.” “Because the lending institutions in each country are different, the situation is a bit complicated.”
In the past few years, Google is competing with technology companies such as Facebook and Apple for young talent. The cost of living in the San Francisco Bay Area, the core area of Silicon Valley, is particularly expensive, and this is where many technology companies are headquartered.
Casey told employees that the newly announced benefits are also an expansion of the education expense reimbursement program for employees. Google and employee resource organizations “Google Black Employee Network” and “Black Leadership Consulting Group” are cooperating on this benefit. Casey said the two organizations “helped us do this.”
Casey said in the email: “Student loans are disproportionately burdened by the colored and female communities, so this benefit is a step towards building a fairer Google.”
This benefit does not apply to Google’s approximately 130,000 outsourced and temporary employees, only to 123,000 full-time employees.
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