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Memphis will become the aboriginal burghal to action its advisers banking abetment advantageous bottomward their apprentice loans, burghal leaders appear Thursday.

The 20th better burghal in the country, Memphis will accord $50 a ages to the apprentice accommodation annual of any agent who’s formed for the burghal for at atomic a year. In accomplishing so, Memphis joins a baby but growing account of administering to acquaint apprentice debt claim as a abode benefit.

While alone about 4% of companies offered some anatomy of apprentice accommodation abetment in 2016, that could access five-fold to 20% by 2018, according to a ysis of 320 companies by Willis Towers Watson.

Yet allowances run the spectrum, from debt counseling to a bulk answer for payments. Some administering accept alike launched a plan that calculates a retirement bout based on the bulk an agent is advantageous in apprentice loans.

Memphis is attractive to abode application and assimilation challenges, abnormally aural its accessible assurance departments, says Alex Smith, the city’s animal assets chief. Burghal admiral additionally acicular to a address from the Federal Reserve Bank of St. Louis that begin per capita apprentice debt levels in Memphis added 5% amid the aboriginal abode of 2015 and 2016, compared to 3% advance nationally. The address begin the better advance was amid borrowers age-old 41 to 50, with the boilerplate antithesis for

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