We analyze the potential impact of the recent US reform that permits employers to match retirement plan contributions when employees repay their student loans. Our calibrated lifecycle model measures the impact of this policy on heterogeneous household financial behavior and welfare. We show that, post-reform, workers optimally reduce their own retirement plan contributions in exchange for the employer matches and repay student loans more slowly and smoothly. The reform also boosts financial wealth and annual pre-retirement consumption. Workers with high student debt relative to expected lifetime income gain the most from the reform, reflecting their greater repayment burden.