Demand Grows for Gradifi’s Educational Employee Benefit Solutions
Since it was acquired by
Gradifi’s new clients include
Building on demand for its solutions, Gradifi earlier this month expanded its suite of educational employee benefits with the launch of College SaveUp Plan, an innovative employer program that will help employees save for college for their children.
“Gradifi is differentiating employers in the marketplace by helping employees manage one of life’s major financial challenges – college education,” said Gradifi CEO
According to recent 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
Gradifi’s SLP plan 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.
Gradifi’s College SaveUp Plan benefit helps individuals and families save for a college education. College SaveUp Plan enables employers to make monthly contributions to an employee’s existing 529 college savings account. College tuition nationally has been rising 6% annually. At that current rate of increase, the cost of a private college education would be
College SaveUp Plan gives employers the flexibility to set the program’s eligibility requirements and the dollar amount of the contribution, similar to the SLP Plan offering. Employees must have an established 529 savings account to receive the employer contribution.
Elizabeth Yekhtikian, 617-686-9541