Employee Benefit Program Helps Employers Attract Top Talent

Looking for a new solution to address the employment crisis? 

Ninety percent of those with outstanding student loan debt said a student loan repayment benefit would positively impact their decision to accept a job offer, recommend an employer, or stay at their current employer. 

This employee benefit program assists employees in paying off their student loans or saving for their children's college. It also provides a competitive advantage as employers are looking to recruit and retain top talent! 

Give Your Employees the Right Benefits that Matter

Michigan employers can be a pioneer through this trailblazing employee benefit. We have partnered with Gradifi, the leading provider of student loan repayment and college savings benefit programs to U.S. employers, to provide you an opportunity to design the perfect program for your business and employees!

  • Direct contributions to student loans and existing 529 plans
  • Financial wellness content
  • One-on-one counseling
  • Access to excellent student loan refinancing rates

Did You Know?

  • Millennials and Gen Z together will account for well over 50% of the workforce by 2020
  • 4% of U.S. companies provide student loan repayments while 71% would value the benefit
  • Average educational debt is $28,000 with an average monthly expense of $410 (2nd to housing)
  • Sending children to college or continuing their own education is a significant life goal for many
  • Cost of a four-year college education ranges from $50,000 to $150,000
  • Student debt affects employees aged 23 to 53 for undergraduate AND graduate student loans
  • Students pay off their loans much faster (30% faster with a $100 monthly contribution) and then are more likely to participate in your 401k program earlier

Program Benefits

  • Unique, leading-edge solution for your talent recruitment and retention problem
  • For employers with one employee to 1,000’s of employees
  • Fraction of the cost of health care and 401K contributions for employees; pay a monthly per employee processing fee and the contribution amount
  • Easy-to-use interface allows your HR team to set up a plan with no system integration required
  • It takes less than ten minutes for employees to sign up and be ready to receive their first contribution
  • Customer service team is ready to answer any question to ensure a smooth onboarding experience
  • Opportunity to review and approve contributions each month before they are made
  • Refinancing options empower employees to competitively refinance their student loans, and potentially lower their monthly payment or APR

What’s Next

For more information, please fill out this form or contact David Brownback at (517) 371-7689 or dbrownback@michamber.com.