BOSTON--(BUSINESS WIRE)--Gradifi, a leading provider of student loan and college savings employee benefits, today said it is now offering automatic payroll deductions to contribute to any direct-sold 529 college savings plan in the country.
College SaveUp, one of three Gradifi solutions designed to minimize student loan debt, is unique in providing employers maximum flexibility to help employees save for the college of their choice. Typically, automatic payroll deductions offered by 529 plans are limited to a single program and do not provide the flexibility for employees to choose their own plan.
Gradifi’s open architecture for 529 plan payroll deductions is one of two ways Gradifi helps individuals and families save for college. Employers can also make monthly, quarterly, or annual 529 plan contributions on behalf of employees through Gradifi’s easy-to-implement, cloud-based platform.
“Gradifi was founded to help employers reduce the financial and emotional burden of student loan debt for employees,” said Gradifi CEO David Chang. “The new plan-agnostic functionality in College SaveUp is another innovative way Gradifi is addressing the student loan debt crisis. By providing both employers and employees with programmatic options for setting aside money, college savings can build faster.”
In addition to the new College SaveUp functionality, Gradifi today also announced the continued adoption of its all-in-one platform, which provides employer-sponsored student loan repayment contributions and a student loan refinancing marketplace.
Gradifi is now working with over 750 employers across the U.S. Among its new clients are Sotheby’s, New Balance, and Wayfair.
Gradifi Refi provides refinancing options from lenders Earnest, LendKey and First Republic Bank (NYSE:FRC), parent of Gradifi. Gradifi Refi offers among the lowest student loan refinancing rates in the country. Gradifi’s Student Loan PayDown allows employers to make regular contributions to pay down an employee’s student loan debt. Gradifi Refi and Student Loan PayDown can be offered together with College SaveUp or each solution can be implemented separately.
To learn more about Gradifi’s solutions, please email email@example.com or call 1-844-GRADIFI.
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 an all-in-one, cloud-based platform that allows 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 U.S. www.gradifi.com.