The Standard, best known for financial protection products like life and disability insurance, is stepping into the student debt crisis. The company has announced a new partnership with BenefitEd, a provider of student loan repayment and college savings solutions, giving employers new tools to help workers manage education costs while improving retention.
If that sounds like a niche perk, consider the backdrop: 42.7 million Americans carry federal student loans totaling $1.77 trillion, according to government data. Most of that debt sits on the shoulders of Millennials and Gen X—prime working-age groups. Unsurprisingly, mounting debt has become one of the biggest drivers of financial stress, job dissatisfaction, and turnover.
“Our partnership offering with BenefitEd strategically enhances workers’ financial security and bolsters employee retention,” said CrisDee Plambeck, VP of Employee Benefits Product and Strategy at The Standard.
Why It Matters for HR Leaders
Tuition assistance and student loan repayment aren’t new ideas, but they’re rapidly moving from “nice-to-have” to competitive must-have in HR benefits. Giants like Google and PwC already offer some form of student loan support, and research shows these programs directly impact both recruitment and loyalty. For The Standard, this partnership plugs a gap in its benefits lineup and helps its clients stay relevant in a benefits arms race.
What Employers Get
Through BenefitEd, clients of The Standard can now access education-related perks at discounted rates:
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Student Loan Repayment: Employers contribute directly toward employee loans—either as tax-free payments or through matching programs.
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College Savings Contributions: Companies can supplement employee 529 college savings plans, easing the path for future education costs.
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Tuition Reimbursement Management: BenefitEd streamlines the admin side of reimbursing employees for coursework.
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Flexible Employee Choice: Workers can decide how to allocate matching funds—toward retirement, loan repayment, or both—without forcing employers to adjust budgets.
“These services are highly valued by employees and give employers an additional tool to attract and retain employees,” said Dennis Cash, Director of Strategic Initiatives at BenefitEd.
Bigger Picture
Education benefits are emerging as a core lever in talent strategy. In a job market where flexibility and wellness dominate headlines, financial stability—especially tackling student loans—remains an underrated, high-impact perk. With this move, The Standard joins a wave of insurers and HR solution providers repositioning themselves not just as safety nets, but as strategic allies in the fight for talent.
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