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Through the use of technology and expert student loan advisors, your employees with student loans can easily determine the best personal options for their unique student loan situation using SLFP. This will have the effect of lowering the student loan payment and or paying off the loan more quickly or even leading to complete loan forgiveness.
Because it’s a) objective, setting the needs and desires of the borrower first – Fiducius is not a bank merely seeking student loan refinance, b) personal – technology plus human advisors build a no risk/no cost plan for the borrower, paid for by their employer, that is specific to the needs of the individual, and c) available – human advisors available during business hours with supporting technology available 7×24, d) relevant – a regular flow of up to date intel is shipped to the borrower in their preferred digital mode, keeping them abreast of developments with their servicer/bank and the Dept of Education, e) available for the entire Enterprise or in License Blocks, making it simple for the employer to choose its preferred investment.
The employer student loan repayment benefit is a financial perk that helps employees pay off their student loan debt. Through this program, you can contribute directly to an employee’s loan balance, reducing the overall debt burden faster. These contributions can be made tax-free up to a certain annual limit, offering both employers and employees tax advantages. This benefit not only supports employee financial wellness but also enhances talent retention and recruitment. It’s a valuable tool for employers looking to attract and retain top talent in a competitive job market.
because a) Fiducius offers personalized solutions tailored to each employee’s unique financial situation, ensuring they maximize savings and repayment efficiency. Dollars are applied after the loan is optimized leveraging SLFP, b) we include expert financial guidance, helping employees navigate complex loan structures and help them choose the best repayment strategies, including loan forgiveness options, c) Fiducius integrates seamlessly with payroll systems, making it easy for both employers and employees to manage, d) provides ongoing support, not just a one-time payment, which drives long-term financial success, e) comprehensive reporting and compliance tools to ensure employers meet all regulatory requirements.
This is an outsourced service to manage the day-to-day details of providing tuition reimbursement to your employees. It includes enrollment, easily available document housing, EFT or check processing for reimbursement, budget modeling for the finance function, year end accounting and student loan optimization when there are participants borrowing for school tuition and costs.
Because a) as an enrolled benefit, finance can manage the actual spend prior to reimbursement being required, b) participants who are borrowing are set on a financial wellness path prior to graduation by following Student Loan Financial Planning as part of their education journey, and c) plan design and consulting is wrapped into a simple to absorb roll out package with the ability to launch at the beginning of the year or mid-cycle, whichever makes best sense for the employer.
All of your employees have read about Secure 2.0. The act was signed in by Congress in December 2022. While there are varying features, Secure 2.0 allows employers to
· Match student loan payments with qualified plan match dollars
· Choose payment periods and match amounts
· Update qualified plan documents in 2026 while implementing now
SL Verify provides:
· A smooth and seamless automated approach to tracking qualifying loan payments
· Stay in compliance with the IRS
· Integrate with SLFP in order to minimize individual loan payments, thereby minimizing investment of match dollars
All of your employees have retail banking needs. Did you know with Fiducius buying power, coupled with your organization, you can bring Banking as a Benefit to life with your employees? Fiducius has a range of banking partners that bring expert service and specially created products to your employees. Your employees? They have both simple and complex needs but they can be brought together in a simple digital manner, allowing them:
While you, the employer:
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