This January, GradFin began administering the student loan repayment and financial wellness platform for Liberty Resources, a non-profit based in Philadelphia.
The Philadelphia Business Journal recently covered this new program in an article that can be found here. Below is the quote from Liberty Resources about the program.
The nonprofit was looking for a way to improve retention while easing its employees' financial burdens, so it worked with GradFin to implement an employer match. Workers choose what percent of their paycheck they want contributed to their student loan and Liberty matches that, dollar-for-dollar, up to 5 percent.
“We saw this as an excellent recruitment and retention tool for our business. We have a younger workforce and one of the number one things we heard that was a barrier to that focus on financial planning was they have their student loans to pay off,” Sloan said.
GradFin’s flexibility with a plan was important for them, she said, and while just about five percent of their staff of about 170 people have signed on, word of the program is spreading.
“Our staff is absolutely loving it,” Sloan said.
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