Employee Answer to Student Loan Repayment and College Affordability
The PayForED platform gives employees customized answers to their student loan repayment and college funding questions. Our user-friendly environment helps families minimize student debt, reduce their monthly payments, qualify for loan forgiveness, and find affordable colleges. We provide the missing transparency that employees are seeking.
The PayForED platform gives employees customized answers to their student loan repayment and college funding questions. Our user-friendly environment helps families minimize student debt, reduce their monthly payments, qualify for loan forgiveness, and find affordable colleges. We provide the missing transparency that employees are seeking.
Features and Benefits
Help More Employees
Most Student Loan Assistance Benefits only help employees with student debt that are in repayment. PayForED helps:
* Employees and their spouses in repayment
* Employees in college or considering additional education
* Employees seeking loan forgiveness
* Parents with children in college
* Parents planning for college
* Employees and their spouses in repayment
* Employees in college or considering additional education
* Employees seeking loan forgiveness
* Parents with children in college
* Parents planning for college
Reduce Financial Stress
Financial stress is one of the top concerns for employers. This impacts productivity and retention. Student loan repayment and college funding are challenges for a large segment of the employee population. By providing our customized answers, employees can better manage this major expense and make informed decisions
Easy Implementation
PayForED’s turn-key process makes implementation a snap, requiring minimal time and effort from your team. Full implementation can be available to your employees in less than 2 working days.
Increases Net Pay
With over 56% of borrowers choosing complex loan repayment methods, employees need better tools to manage these decisions. Traditional loan repayment and employer match programs can be costly to employers and may adversely impact an employee’s bottom line.
Improves Employee Privacy
Many employees are searching the web for answers on student loan repayment and college affordability. Many of these free sites collect PII information without the user knowing this. The PayForED approach eliminates these searches and exposure to privacy risks.
Integration Details
Integration with ADP Workforce Now reduces HR resources to manage the implementation and ongoing support of this benefit. Registration and eligibility are automated through the API between ADP and PayForED.
Student Loan Market Place
Employees will have access to PayForED’s selective student loan marketplace. The marketplace provides access to both private student loans and refinancing options from a select panel of lenders that offer features beyond just interest rates and terms. We are not a bank and therefore offer independent and objective guidance when additional financing is needed.
The services are provided by an independent third party and not provided by ADP and ADP is not responsible for such third party’s products or services.
