Student Loan Repayment Programs

[austin3515]

A lot of recordkeepers are starting to talk about Student Loan repayment programs.  Anyone have any articles they've read about what these things are?

Clients seem to get really excited about these things but I can't seem to figure out what they do/how they work.  

From what I gather employers can do payroll deductions/matches (the latter of which is taxable) and then faciliate payments to lending institutions?  Very curious to know what you guys know!

[Dave Baker]

I'm even seeing TV commercials about 'em.

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[austin3515]

Perfect, thanks!

[Catsby]

I have mainly seen employers letting one of the bigger refinance companies come to the office and market, usually with a "bonus" for employees who sign up. I suspect SoFi is pretty aggressively marketing this approach since I have seen them a lot.  This is a pretty easy and low-risk option for the employer (although SoFi's bad PR lately may affect this trend! - https://www.nytimes.com/2017/09/12/technology/sofi-chief-executive-toxic-workplace.html?_r=0).