BOSTON–(BUSINESS WIRE)–Degradedone of the leading benefits providers for student loans and education savings, today announced that it now offers automatic payroll deductions to contribute to any 529 education savings plan sold directly in the country.
SaveUp College, one of three Gradifi solutions designed to minimize student debt, is unique in that it offers employers maximum flexibility to help employees save for the college of their choice. Generally, the automatic payroll deductions offered by 529 plans are limited to a single program and do not allow employees to choose their own plan.
Gradifi’s open architecture for Plan 529 payroll deductions is one of two ways Gradifi helps individuals and families save for college. Employers can also make monthly, quarterly or annual contributions to the 529 plan on behalf of employees through Gradifi’s easy-to-implement cloud platform.
“Gradifi was founded to help employers reduce the financial and emotional burden of student debt on employees,” said Gradifi CEO David Chang. “The new plan independent feature in College SaveUp is another innovative way for Gradifi to address the student debt crisis. By giving employers and employees programmatic options for setting aside money, college savings can accumulate faster. »
In addition to the new College SaveUp feature, Gradifi today also announced the continued adoption of its all-in-one platform, which provides employer-sponsored student loan repayment contributions and a refinance marketplace. student loans.
Gradifi now works with over 750 employers across the United States. New clients include Sotheby’s, New Balance and Wayfair.
Gradifi Refi offers refinancing options with lenders Earnest, LendKey and Bank of the First Republic (NYSE: FRC), parent company of Gradifi. Gradifi Refi offers some of the lowest student loan refinance rates in the country. Gradifi’s Student Loan Repayment allows employers to make regular contributions to pay off an employee’s student loan debt. Gradifi Refi and Student Loan PayDown can be offered with College SaveUp or each solution can be implemented separately.
To learn more about Gradifi’s solutions, please email [email protected] or call 1-844-GRADIFI.
Gradifi is a benefits innovator for US employers. Gradifi’s mission is to help employers retain their workforce by providing benefits that positively impact the financial well-being of their employees. Gradifi offers an all-in-one, cloud-based platform that enables employers to offer student loan refinancing opportunities and employer-sponsored contributions to student loans and 529 college savings plan accounts. A unit of First Republic (NYSE:FRC), Gradifi works with employers of all sizes across the United States www.gradifi.com.