These companies offer student loan repayment benefits

Many companies offer employees money to pay down their student loans. (iStock)

Repaying student loans can be a herculean task as the average amount of loans continues to rise and many graduates are stuck with massive debt.

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The number of employers offering student loan repayment assistance is also increasing. This perk is helping companies attract employees and now 8 percent of companies offer the benefit, according to a 2019 survey by the Society for Human Resource Management (SHRM). That's double the same number from 2018.

Here is a list of 17 companies that provide money for their employees so they can pay down their student loans sooner.

1. Aetna

Full-time employees at the insurance company receive up to $2,000 annually in matching funds with a $10,000-lifetime maximum while part-time employees obtain up to $1,000 in matching funds with a $5,000-lifetime maximum.

2. AlloSource

The company that researches allogeneic cells and tissues, partnered with Tuition.io, a student loan repayment platform provider, will pay an undisclosed percentage to the principal of the loan.

3. Anderson Global

The financial consulting company offers $100 a month for the first five years and then provides a lump sum of $6,000 for any employee who works at least 20 hours a week.

4. Chegg

The education services company pays a maximum of $5,000 annually for entry-level to manager employees once they have been employees for two years and up to $3,000 for director and vice president-level employees.

5. CommonBond

The marketplace lending company provides $1,200 annually until the student loan is paid down.

6. Estee Lauder

The cosmetics company gives employees $100 a month with a maximum of $10,000.

7. Fidelity Investments

The retirement provider offers $2,000 annually with a maximum of $10,000.

8. First Republic

The bank and wealth management company pays $100 a month and increases annually with a maximum of $200 per month until the loan is paid off.

9. LiveNation

The concert and events company gives $100 a month with a maximum of $6,000.

10. Natixis Global Asset Management

The asset management company gives $1,000 annually with a maximum of $10,000 over 10 years.

11. New York Life

The insurance company offers $170 a month with a maximum of $10,200 over five years.

12. Nvidia

The chipmaker gives employees who graduated within the past three years $6,000 annually for a maximum of $30,000.

13. Penguin Random House

The publishing giant offers $100 a month for up to $9,000 over 7.5 years.

14. Peloton

The fitness company provides $100 a month with no maximum amount of years.

15. PricewaterhouseCoopers

The professional services company offers $100 a month for six years.

16. SoFi

The personal finance lender offers $200 a month.

17. Unum

The insurance company allows employees to trade up to five unused vacation-day wages for their loans. The vacation-day wages are based on their hourly wages.