Employer-Assisted Student Loan Repayment
By helping employees pay back student loans through making regular, monthly payments, employers can recruit, engage, and retain more educated, productive, and focused employees.
Benefits of Partnering with BenefitEd
Customize the Plan to Your Needs
You have option to choose which employees receive the loan repayment benefit – and how much you contribute to each of them.
Decrease Recruitment Costs
With a differentiated, unique benefits package, you gain a recruitment edge that helps you attract the best candidates while helping them work toward financial freedom.
Engage and Retain Employees
By addressing a core need to pay down student loan debt, you increase employee engagement and retain educated employees.
Minimize Administration for Your Team
With BenefitEd’s experienced team, implementation is simple – and we handle program administration and support, too.
How the Program Works
Getting Started is Simple
We help you identify which employees carry student loan debt, and help create a benefit package based on your unique needs. It’s completely customizable – you decide:
- Who’s eligible for the benefit.
- How long eligible employees will have the benefit.
- How much you’ll contribute per employee.
- How often you’ll make contributions.
At BenefitEd, we do the heavy lifting so you don’t have to. As an employer, all you need to do is:
- Provide the employee enrollment file.
- Verify employee status and provide a lump sum payment.
BenefitEd will provide outreach and collect information from employees, distribute payments and notify employees when to expect payments and deposits.
Payment Plan Reporting and Results
BenefitEd tracks the impact on employee retention.
- Monthly enrollment reports help you keep tabs on your loan repayment program.
- Employees receive email confirmation that payment has been made, reinforcing the program value.
In our Resource Center, you’ll find useful articles, videos, case studies, whitepapers, and more. These resources provide information on how to achieve your business objectives by effectively using education benefits to attract and engage employees.
blog 4 Reasons to Help Employees Prepare for Student Loan Repayment
After three years without federal student loan payments, many of your employees will feel the pinch when the payment pause ends.
blog The Impact of Employer-Assisted Student Loan Repayment
With more than 44 million federal student loan borrowers, many college grads entering the workforce need help repaying their loan debt.
whitepapers Student Loans in 2023
What’s happening in the student loan industry, tax changes, employer benefits, and more.