Penguin Random House recently announced that it is partnering with Gradifi to offer its employees financial assistance to help reduce their student loan debt. The first book publishing company to offer student loan repayment assistance joins the ranks of other progressive companies, including PricewaterhouseCoopers, First Republic Bank and Natixis Global Asset Management, in offering this innovative benefit.

Current statistics reveal Americans owe nearly $1.3 trillion in student loan debt, spread among about 44 million borrowers. The average individual graduating in 2016 had $37,172 in student loans, up 6% from last year.

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