Student loan interest killing me?

Im a 44 yr old single female. Current income $125,000/yr working 2 jobs with taxed income claiming zero deductions on $100,000 income and a part-time consulting job paid about $25,000 with 1099 tax arrangement. I have a minivan I owe $22,000 with a $700/month payment. I rent a house for $1,200/month. No credit card debt. I divert $475/month pretax income into a 401K which is 100% vested and has about $25,000 current balance. My student loan principal is $110,000 at 7.75% fixed interest. It's killing me. I pay $1,200/month but only about $350 goes toward principal. Someone advised I ask my employer to pay off the $110,000 principal. I pay them back $12,000/year by having my salary decreased this much. I win because I no longer pay 7.75% interest plus my taxable income goes down by $12,000/year. My employer wins by having their payroll tax decreased since they're paying $12,000 less per year in payroll. Is the payroll tax reduction enough incentive for a company to do this?