With the cost of college on the rise, it's not only about giving people the proper 529 plan advice, but finding creative ways to help them save more.
BERKELEY, Calif. (PRWEB) July 22, 2020
EvoShare, a microsavings oriented FinTech startup based in Berkeley, CA, and Gradvisor, a leader in the college savings industry helping Americans save more for college, headquartered in Miami, FL, are announcing their partnership to increase contributions to 529 college savings funds using cash-back from employees’ everyday spending. Now, in addition to custom tailored guidance on 529 plans, Gradvisor will give employers a unique benefit that lets employees put more money toward their children’s future without taking any money out of their paychecks.
EvoShare’s proprietary system recaptures a percentage of every dollar spent at over 10,000 partnered local and online stores for additional contributions to a financial savings account like a 529 College Savings Plan. Gradvisor’s industry-leading benefit is the only online college savings solution for employers that provides personalized advice for all participants. With EvoShare embedded in their dashboard, this advice is now coupled with an entirely stress-free method to save more for college than ever before.
“We’re happy to offer our cash-back solution to support Gradvisor’s mission of providing all Americans with solid, actionable insights on saving for college ,” said Eugeny Prudchyenko, CEO of EvoShare.
"With the cost of college on the rise, it's not only about giving people the proper 529 plan advice, but finding creative ways to help them save more. Our partnership with EvoShare will allow our users to boost their savings through everyday purchases and watch those savings grow tax-free," said Marcos Cordero, CEO of Gradvisor.
Gradvisor provides personalized advice on the best 529 plans for employees by taking into account numerous factors such as risk tolerance, financial situation, potential state tax deductions/credits, fees and historical performance. Under its fiduciary responsibility, Gradvisor makes 100% objective recommendations for the best fitting investment and asset allocation. This partnership with EvoShare allows Gradvisor to combine this customized advice with a burden-free ability for employees to boost their educational savings without changing their spending habits.
EvoShare is the premiere cash-back savings program that is giving employees a new, automated way to save for their retirement and education goals. EvoShare provides employers with a “set it and forget it” experience where employees can spend as usual at over 10,000 participating businesses and receive up to 20% cash back toward a financial account; 401(k) or 403(b) plan, IRA, HSA, student loan, or 529 plan. EvoShare has been featured in Forbes, Inc., Entrepreneur, and The Huffington Post. It won the 2019 DC Genie Award from 401(k) TV for “Best Financial Technology” and was a finalist for KNect365’s 2019 Finovate Award for “Top Emerging Tech Company.”
Gradvisor is a digital financial wellness platform that makes it easy for employers to offer college savings as part of their employee benefits package. By offering plans from every state, Gradvisor ensures that each employee receives the best advice. Employees can go to Gradvisor’s website for customized advice on which direct-sold 529s best suit their needs and how much to save per paycheck. They also can track their investments, adjust contributions and speak with a college savings expert for no additional charge. Gradvisor is helping corporate 529 plans do for college tuition what the 401(k) has done for retirement, making it more affordable and accessible to a wider spectrum of Americans.