Helping people pay-off their student loans is a heroic move.
It's no surprise, student loan debt is negatively impacting the financial health of millions of people. From moving back in with parents, to not qualifying for a mortgage, to postponing retirement savings, the stress can be overwhelming.
Co-Pay Partners helps organizations make payments toward a student loan balance; reducing the borrower's financial obligation and the time it takes to pay-off their debt.
Employers can pay up to $5,250 annually toward an employee's student loan on a tax-free basis through 2025. This tax-relief (for both employee and employer) makes it easier to implement a program to demonstrate your commitment to alleviating a stressful burden.
Recruit & Retain
80%+ of millennials would strongly consider a job with this benefit over one without it.
Reduce Financial Stress
“It was super easy to register and sync my loans. I'm so thankful; this program takes a weight off my shoulders.” - Patrick Z.
By 2021, 32% of employers will offer this type of program.
- Ease financial burdens by helping to pay off education debt faster and reducing interest paid over the life of the loan
- Eliminate the student loan payment vs. retirement contribution conflict
- Boost morale and overall well-being
- Flexibility in how you contribute: annually, quarterly, monthly
- Your contribution is remitted directly to a borrower's loan servicer
- No ERISA constraints - target specific departments where retention is difficult or offer the benefit to all
All Solutions Offer
Impeccable customer support
- Great benefit to pay off student loans faster and reduce the overall amount of interest paid
- Reduces stress
- Allows for investments in other things (car, home, retirement)
- Quick account set-up
- Easy-to-use dashboard tracks contributions