City of Memphis First in Nation to Offer Student Loan Repayment

The City of Memphis is making history as the first in the United States to offer a student loan debt-reduction program for city employees.

To participate, one must be an active, full-time employee with the City of Memphis for at least one year. Each month, $50 will go toward the employee’s principal payment on the loan. City of Memphis employees are excited about the program, which has made national news.

City leaders hope this initiative will help attract and retain talented young professionals in the public sector. The capital will come out of the general fund in July.

– Kym Clark, WMC Action News 5