(PRWEB) November 22, 2016
BenefitEd, a Nelnet company, has created a program to help employers offer student loan repayment as an employee benefit. It leverages Nelnet’s existing relationships with loan providers and payment processing companies to provide a single source for the enrollment, management, and distribution of payments. Companies will be able to customize their benefit to fit the needs of their unique employee base and recruitment needs. Nearly 40 million people carry student loan debt post-graduation, and BenefitEd provides employers and employees a way to help ease the burden.
According to data from the Americans for Student Assistance, 73% of student loan borrowers say that their education loans have caused them to put off saving for retirement. BenefitEd gives employers a new tool to enable employees to plan and save for the long term. BenefitEd can become a pillar of employer benefits packages, giving companies a competitive edge that can help reduce turnover and save resources spent recruiting and training new employees.
“Companies looking to implement student loan repayment benefits are really leading the way, addressing a real unmet need.” said Michael Riordan, BenefitEd director of business development, “We’ve seen a lot of interest from HR professionals, and we’re excited to be one of the first companies to help employers offer student loan relief.”
There are currently over 600 employees already receiving loan repayment benefits through BenefitEd. Employers also have the option of directing this benefit toward a 529 college savings plan.
BenefitEd was founded on the expertise of Nelnet, who for almost 40 years has been a leader in student loan servicing. Nelnet’s in-depth knowledge of the student loan industry gives BenefitEd a unique edge when it comes to designing a product aimed at helping those with student loans.
Interested employers can visit YouBenefitEd.com to learn more about the program and its benefits.
Founded in 2016, BenefitEd aims to help employers recruit, retain, and engage employees by offering them the benefit of aiding with their student loan repayment. BenefitEd is a product of Nelnet, which provides a variety of innovative products that help students throughout their educational lifecycles, and the Innovation Hub, which uses an entrepreneurial and innovative mindset to leverage Nelnet’s strengths to develop ideas and launch new businesses.