Consulting firm Willis Towers Watson expects more than a third of employers to offer student loan consolidation programs by 2021. This represents huge growth, since the Society of Human Resource Management says only 4% of employers offer student loan repayment benefits now. Willis also expects 35% of employers to offer student loan refinancing arrangements by 2021. Many employers offering this benefit are doing so by distributing a lump sum benefit over 5 to 8 years. It’s no surprise that this approach seems to be boosting employee retention rates – since millennials and Gen Z employees are strapped with about $30,000 of student loan debt and in many cases, lower wages than their parents were making at their age.