Aetna Student Loan Repayment Program Fact Sheet
On August 10, 2016, Aetna Chairman and CEO Mark Bertolini announced a Student Loan Repayment Program that will provide some financial relief for employees who graduated since December 1, 2013. This follows the announcement in 2015 of two other programs that improved financial security for thousands of workers by improving wages and health care benefits.
- Aetna will match employees’ U.S.-based student loan payments up to $2,000 per year for a lifetime maximum of up to $10,000 for qualifying loans.
- All full- and part-time (20 hours a week or more) active Aetna employees are eligible for the program.
- For part-time employees, Aetna will match up to $1,000 a year with a lifetime maximum of $5,000.
- To qualify, an employee must have earned his or her U.S.-based undergraduate (including associate) or graduate degree from an accredited institution within 3 years of applying for the program.
- The student loan repayment program begins in January 2017.
- Aetna estimates up to 4,000 employees have received degrees since December 2013 and could be eligible.
- Aetna will make payments directly to the loan servicer.
- Aetna already offers a tuition assistance program that pays 80 percent of the cost of undergraduate or graduate courses, and employees may benefit from both programs.
- The Student Loan Repayment Program includes expert, no-cost education loan repayment guidance sessions through Aetna’s tuition assistance vendor, EdAssist.
As a health care company with a vision of building a healthier world, Aetna takes a holistic view of employee well-being – one that includes physical, mental, social, and financial health. These programs help make our employees healthier, happier and more productive; improve the experience we provide to our customers; and make our company stronger.