When it comes to well-being, many organizations consider employees’ physical and mental health, offering health insurance and other benefit programs. Financial well-being is less often considered, but it can make a big impact for both employees and employers.
More than any other kind of debt, student loan debt causes workers to have less favorable views of their own financial well-being, according to William Elliot, director of the School of Social Welfare for the University of Kansas.
How can organizations improve their employees’ financial well-being? Student loan repayment plans that integrate into an existing 401(k) program offer one solution. Retirement packages like a 401(k) can be an attractive benefit option that many employers offer to their workforce.
BenefitEd offers customized employer-assisted student loan repayment programs and college savings programs to employers looking to build highly competitive, differentiated benefits packages. We offer these programs direct to employers, through benefit brokers, and white label solutions.
In 2017, BenefitEd became a joint partnership between Ameritas Life Insurance Corp. and Nelnet, Inc. This partnership leverages Ameritas’ expertise in the distribution and management of employee benefits and Nelnet’s relationships with student loan lenders and decades of experience in payment processing. Through significant scale and experience, BenefitEd can meet the needs of companies both large and small.