Employees' student loans are being repaid by companies through increased perks.

In 2019, Leahannah Taylor graduated from Rutgers University with a master’s degree in biomedical sciences and $59,000 in student debt. She is now debt-free after wiping out her loan balances in less than two years, thanks to an incentive offered by her employer.

"As a clinical specialist for Abbott, I aimed to tackle my debt quickly," said Taylor, 27.

While enrolled in Abbott's "Freedom 2 Save" program, she reduced her debt. An employee must contribute at least 2% of their eligible pay to pay off student loans. According to Abbott's website, the company contributes 5% to the employee's 401(k) account without them having to contribute anything.

Contributing to retirement sooner rather than later was very important to me because I understand the significance of compound interest, as stated by Taylor.

To fund your retirement, you need to save a certain amount of money. Starting a freelance business or starting a business requires careful planning. To get your employer to help pay off your student loans, you need to follow these steps.

Since its inception in 2018, Abbott's program has garnered 1,800 employee participants. The program's popularity surged during the pandemic, with a 50% increase in the monthly average number of employee sign-ups in the past two years, as stated by Mary Moreland, Abbott's executive vice president of human resources.

Despite the Biden administration's decision to allow borrowers to defer federal student loan payments until May 1, 2022, more employees have enrolled.

Moreland stated that people were seeking ways to manage what they could control, which included paying off debts and saving for retirement.

Employers are also looking for creative ways to attract skilled talent.

An October survey by the Employee Benefit Research Institute found that nearly half of employers, or 48%, currently offer or plan to provide student loan debt assistance as a benefit, an increase from 32% in 2018.

Jill Buban, vice president of Bright Horizons EdAssist Solutions, stated that the talent war has necessitated considering unconventional solutions to benefit financially.

Taylor said that Abbott's program "definitely swayed me to take up the job."

While Abbott’s program, which ties 401(k) plan contributions to student loan debt payments, is the most widely offered employer benefit for student debt assistance, according to the EBRI survey, it is not the only option available. In the next year or two, a greater share of employers plan to offer student loan debt payment counseling or pay loan repayment subsidies, similar to tuition reimbursement.

Direct payment programs

Some companies, including Fidelity, Google, and New York Life, will make direct payments toward an employee's student debt.

Aliah Gibson, a 32-year-old human resources specialist at New York Life, is utilizing the company's benefit to contribute $170 monthly towards her student loans.

With the help of the program and her own payments, she has now paid off almost a quarter of her debt.

Gibson stated, "When I converse with peers, I disclose to them about New York Life's actions. They react with astonishment, expressing their wish that their own company provided similar offerings or undertook such initiatives."

This benefit can really add up.

An employee with a $26,500 student loan balance can pay off their debt three years earlier and save over $10,000 in principal and interest over 10 years with a $100 monthly repayment benefit, according to EBRI. This assumes the employee makes regular minimum payments on the loan with a 4% rate and 10-year term.

Gibson, a new mother, stated that the student debt assistance benefit has helped her family's financial stability. She and her husband Quincy can now save for their 6-month-old son Quinn's college savings account in addition to paying off their student debt.

Employer programs can ease the burden of student loan debt, Taylor said. The secret is to be aware of the benefits, comprehend the offers, and utilize the advantage, she added.

It takes discipline and dedication, she added.

"Looking at others who are in my position and achieving success provided me with great encouragement," Taylor stated, emphasizing that financial success is a long-term journey, not a short-term sprint.

To receive the 8-week course on financial freedom, Money 101, click here. For the Spanish version, click here.

Acorns+CNBC offers expert advice on shifting your retirement savings strategy from the "old convention" to a more effective approach.

Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.