Flexibility is good, and it would help. But, for the most folks, especially in the 20-something recent graduate age range, the cash value for one work week would hardly make a dent in their student loan debt. We're talking about something less than $1000. It would help a lot more, if the university offered to match it, and also if the principal payment amount were tax deductible. Without matching and tax deductions, the student would be better off using the $1000 to pay down credit cards.