January 2022 – Hoffmann Architects, an architecture and engineering firm specializing in rehabilitating building exteriors, has launched a Student Loan Repayment Allowance program to help employees pay off student debt.

An initiative of the Hoffmann Architects Diversity and Inclusion Committee, the Student Loan Repayment Benefit provides eligible employees with matching reimbursement from the employer for qualifying student loan payments made during the year, up to to an annual maximum.

For 2021, ten Hoffmann Architects employees took advantage of the new program and the company disbursed a total of $24,972 for student loans.

Student loan debt is a major concern for most college graduates, but it’s especially debilitating for borrowers of color. According to the National Center for Education Statistics and EducationData.org, black and African American college graduates owe an average of $25,000 more in student loans than white college graduates. Four years after graduation, 48% of black students owe an average of 12.5% Following that they borrowed; after that same period, 83% of white students owe 12% less that they never borrowed.

To help Hoffmann Architects employees pay off student debt and to align with the company’s commitment to attracting and retaining professionals of color, Hoffmann Architects has pledged to support employees with student loans. by offering this new reimbursement service. The Consolidated Appropriations Act (“CAA”), which was signed into law on December 27, 2020, allows employers to contribute up to $5,250 per employee per year in tax-free loan repayment assistance. As the legislation remains in effect until the end of 2025, with the possibility of renewal thereafter, Hoffmann Architects plans to maintain the student loan repayment allowance until at least December 31, 2025.

UConn - Catholic University
Colleges and universities attended by Hoffmann Architects personnel where the firm has also designed building enclosure projects include (clockwise from top left): Connecticut College, Columbia University, University of Connecticut and The Catholic University of America.

Download a printable PDF of this announcement here.