FRANKLIN, Tenn.--(BUSINESS WIRE)--The Carlstar Group announced today that it has partnered with Gradifi to offer a Student Loan Repayment (SLP) benefit to its U.S. employees beginning November 2018. The Carlstar Group is an industry leader of specialty tires and wheels and employs over 3,400 associates in 17 facilities located in four countries.
“This is an exciting new benefit we are able to offer to our team of employees,” stated Jon Mathews, Executive Vice President of Human Resources at The Carlstar Group. “As a large, U.S. based manufacturer employing thousands of talented team members, we hope to lessen the financial burden that Student Loans place on our employees while at the same time expanding our total benefit offering and enhancing employer/employee connections throughout our business.”
Working with Boston-based Gradifi, the leading provider of Employer SLP Plans, The Carlstar Group is joining the ranks of other progressive companies, including PricewaterhouseCoopers (PwC), in leading the charge of tackling our nation’s student loan debt crisis, which impacts 70% of recent college graduates in the United States. Beginning in November of this year, The Carlstar Group will supplement eligible employees’ regular student loan payments with a monthly contribution through a managed program offered by Gradifi.
“Each eligible employee can participate in the SLP program for up to five years, with a total benefit of up to $5,100 toward the principle of a student loan,” said Mathews. “This financial assistance can help save thousands of dollars while reducing the overall life of the loan.”
Meera Oliva, Chief Marketing Officer of Gradifi said, “We are proud to partner with The Carlstar Group to offer a student loan repayment benefit to employees. A student loan repayment benefit not only relieves the burden of student loan debt for employees, but also creates a competitive advantage for employers seeking to attract and retain talent in today’s tight labor market. The Carlstar Group is a leader in recognizing the challenge and in providing a cost-effective, easy-to-implement solution.”
About The Carlstar Group
The Carlstar Group is headquartered in Franklin, Tennessee and is a global manufacturer of original equipment and aftermarket specialty tires and wheels for the agriculture, construction, outdoor power equipment, powersports, high speed trailer and flat free/manual markets. The diverse portfolio of solutions are offered under several leading brands including Carlisle® tires and wheels, ITP® tires and wheels, as well as Cragar®, Black Rock® and Unique® wheels and Marastar® manual tires. The Carlstar Group employs over 3400 associates in 17 facilities located in 4 countries. The Carlstar Group has a culture of converting great ideas into advanced products and has created a legacy of excellence in product innovation, quality, and customer service. For more about The Carlstar Group, visit www.carlstargroup.com.
Gradifi is an innovator in employee benefits for U.S. employers. Gradifi’s mission is to help employers build loyalty with their workforce by providing employee benefits that positively impact their employees’ financial well-being. Gradifi offers a single-platform solution to allow employers to offer employees 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 more than 400 employers and serves organizations of all sizes across the U.S. www.gradifi.com.