Employees at over 130 organizations can now receive student loan repayment benefits through Gradifi.

Gradifi, one of the leading companies that offers student loan benefit programs to employers, announced that 18 additional companies are now offering Gradifi’s Student Loan Paydown Plan (SLP Plan).

The 18 new companies that have signed on with Gradifi have begun offering the SLP Plan benefit to their employees. The companies began their partnership with Gradifi back in early June.

The list of new Gradifi clients includes companies such as Alternatives ABA, Inc., Blach Construction, Bellco Credit Union, and ReadCoor Inc. In addition to the other 14 companies, the aforementioned companies now join organizations like PricewaterhouseCoopers and Penguin Random House in offering Gradifi’s employee plan that will help student loan borrowers pay down their debt.

There are now over 130 companies in the U.S. that have partnered with Gradifi to offer employees the SLP Plan benefit.

The Founder and CEO of Gradifi, Tim DeMello, issued the following statement for Gradifi’s press release: “A growing number of companies are recognizing the problem of student loan debt and are proactively seeking to help their employees manage this challenge. Offering a student loan repayment benefit is a way for companies to reduce the student loan debt burden on talented employees who power their success.”

MUST READ:
Department of Education to Make Changes to Student Loan Servicing System

With employers constantly looking for ways to one-up competitors, offering employee benefits that reduce a worker’s student debt is quickly becoming very trendy. When partnered with employers, Gradifi’s student loan benefit plan allows for the employers to make direct contributions to the employee’s student loan debt.

Attracting prospective employees through offering student loan benefits is an idea that makes sense. According to The Student Loan Report, 44,179,100 student loan borrowers collectively owe $1.41 trillion in student loan debt. Roughly 70 percent of college students are student loan borrowers, and on average owe $27,857 in student loan debt. The current student loan default rate is at 10.7 percent, while the student loan delinquency rate sits at 5.41 percent.

Image Copyright © Mike Beltzner