More U.S. Employers Choose Gradifi To Offer Student Loan Repayment Benefit To Attract And Retain Talent
January 31 2018 - 8:00AM
Business Wire
Gradifi, the leading provider of student loan repayment and
college savings programs to U.S. employers, today said it is now
working with 336 employers across the U.S. to offer a student loan
repayment benefit to their employees.
In January, 14 more employers said they would offer Gradifi’s
SLP Plan® (Student Loan Paydown) benefit, an innovative HR solution
that helps employees accelerate the pay down of their student loan
debt.
Gradifi’s new clients include: Noble Consulting
Services, Adishian Capital, Ascendance
Partners, Rabbit Hole Distilling, Adams Law Office, LLC, Virginia
Law Foundation, Rocket Industrial, Hillcrest Educational Centers,
Cobb Pediatric, and Hillcrest Dental Care.
Gradifi’s SLP Plan benefit enables employers to make direct
contributions to pay down an employee’s debt. Employers can also
extend that benefit to parents who have borrowed to pay for their
children’s education.
“More employers began offering Gradifi’s popular student loan
repayment program in January because it is an effective way to
attract and retain employees, particularly in a tight labor
market,” said Meera Oliva, Chief Marketing Officer of Gradifi. “A
student loan repayment program and a college savings program are
also two ways companies benefitting from the new tax law can invest
in their employees and further differentiate themselves in the
marketplace.”
According to research commissioned by Gradifi, 90% of those
surveyed with outstanding student loan debt said a student loan
repayment benefit would positively impact their decision to accept
a job offer, to recommend an employer or to stay at their current
employer. Eight in 10 consider student loan debt a significant
source of stress, the study found.
A student loan repayment program can significantly accelerate
the paydown of student debt. Nationally, the median amount borrowed
for a bachelor’s degree is $26,500. A $100 per month employer
contribution for a loan at 4% over 10 years would save over $10,000
in principal and interest. The employer contribution would result
in a 30% reduction in total payments, and the loan would be paid
off three years faster.
About Gradifi
A First Republic company, Gradifi is an innovator in educational
employee benefits for U.S. employers. Gradifi’s mission is to help
employers compete more effectively for talent by providing employee
benefits that support an employee’s investment in education.
Gradifi offers both a student loan repayment benefit and college
savings benefit program through its scalable, easy-to-implement
online platform. Gradifi’s SLP Plan® is endorsed by the American
Bankers Association. To learn more, visit www.gradifi.com or
www.twitter.com/gradifi.
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version on businesswire.com: http://www.businesswire.com/news/home/20180131005306/en/
For GradifiElizabeth Yekhtikian,
617-686-9541gradifi@inkhouse.com
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