Student Debt: The Toughest Homework of All?

This topic was presented at WorldatWork Total Rewards Conference in May.

Program Agenda & Key Takeaways:

• Describe the scope of the student debt crisis and its potential implications for the workplace
• List and define three ways in which employers can support student debt saddled employees
• Articulate recent public policy developments affecting student debt

Description:

Student Debt: The Toughest Homework of All?

Recently, the total amount of outstanding student debt in the United States exceeded 1.5 trillion dollars for the first time. This whopping amount of student debt is having serious impacts on those who carry it and their families. Aside from the debt-holders and their loved ones, the employers of those who carry the debt are increasingly becoming an interested and impacted third party. These employers are facing affected employees who maybe be less productive and attentive due to the distracting effect of their financial troubles and who could be a greater flight risk due to lack of financial stability affecting life outside of work (relationships, home ownership, etc.). This session will explore potential workplace implications of the student debt crisis and discuss three ways in which employers can support affected employees.

Pete DeBellis

Research Leader, Total Rewards / BersinTM, Deloitte Consulting LLP

Pete leads total rewards research for BersinTM, Deloitte Consulting LLP. Pete has a deep understanding of the various tools organizations use to attract, motivate, develop, and retain talent, from compensation and benefits to worker wellbeing programs and experience and actualization opportunities, among others. His experience, gained as in-house rewards professional for public companies and as a consultant, helps him understand the critical linkages between total rewards, HR strategy, and overarching business objectives. Pete holds a Bachelor of Science degree in industrial and labor relations from Cornell University.