This year, 400 lucky college grads will not only land their first “real” job but will also be the beneficiaries of a new student-loan repayment program from an employer.
FIS, a publicly traded provider of technology solutions for merchants, banks, and capital-market firms, just announced this benefit for the U.S.-based college graduates it’ll hire starting in 2021. FIS claims it’s the first employer in the financial-services sector to do so. Only about 4% of private-sector employers offer a similar benefit, up from 3% in 2015.
The benefit comes at a time when student-loan debt is topping $1.5 trillion (yes, with a t) and a whopping 45 million Americans owe money for their education—some of whom weren’t even able to earn their degree. According to data from Experian, that number has risen 116% over the last 10 years.
The hype train for buy now, pay later (BNPL) continues to pick up steam as consumers seek shopping alternatives during the pandemic – could this emerging payment option be a credit card killer?
While flexible payments are something that all generations can get behind, younger consumers in particular are drawn toward simple payment processes and behavioral shifts away from traditional credit cards.
As a way to better understand usage, experiences, and trust surrounding BNPL, The Strawhecker Group (TSG) surveyed over 1,500 U.S. consumers in February. Check out some highlights below and download the infographic to get a better understanding of why consumers are choosing BNPL.