Employees

Your employer establishes the eligibility requirements for the benefits they offer in partnership with BenefitEd. You’ll receive an email with a link to the signup page where you provide basic student loan or 529 plan information and determine which accounts will receive contributions. You’ll need your employee ID, name(s) of your loan servicer(s), and your student loan account number(s).

If your employer offers this benefit, they pay a portion of your remaining student loan debt in addition to the amount you pay on the loan. You continue to make payments according to the terms of the loan. A student loan repayment benefit is free money you’re not taxed on, paid directly to a loan.

Federal and private student loans that are in your name (not a parent or guardian’s) qualify to receive payments. Private student loans must be with a student loan provider rather than with a personal bank. International student loans do not qualify under this benefit.

This depends on how the employer sets up their benefit. Employers can set a benefit up to pay once or twice monthly, quarterly, or annually.

Yes, we can. However, for most employer programs, Parent PLUS loans are not eligible.

Your name, employee ID, name(s) of your loan servicer(s), and your student loan account number(s).

You’ll obtain a link from your employer to create an account and start an application for the benefit. This is a two-step process. Submitting the application is just the first step.

BenefitEd is not a 529 plan provider. BenefitEd does not set up 529 plans nor advise on 529 Plans. Eligible employees need to set up a 529 plan through a state-sponsored, direct-sold 529. BenefitEd does not make payment to plans set up by financial advisors.