NORWICH – NBT Bank has launched its own Student Loan Repayment Program to help reduce the outstanding balance on qualifying student loans for full-time employees as part of its financial wellness initiatives. The program offers contributions in the amount of $100 per month to the qualifying loans of full-time employees for up to 60 months.

Student loan debt is a challenge gripping the nation with 1.5 trillion in debt; transcending all generations, with statistics showing that nearly 1/3 of borrowers are over the age of 40.

“Student loan debt is an issue impacting so many of today’s professionals, yet about 8% of companies offer assistance for their employees,” said Chief Human Resources & Ethics Officer Catherine Scarlett. “NBT Bank is proud to be out in front of this challenge, in offering our own Student Loan Repayment program to help alleviate this burden on our employees.”