Employer Student Loan Repayment Assistance Program

 
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Attracting and Retaining Your Most Valuable Assets - Your Employees
 
Are you looking for a competitive advantage for recruitment and retention of top talent?
 

Adding financial wellness benefits above and beyond a competitive salary can give you that “STAND OUT”
advantage with candidates you are seeking to employ in addition to retaining your current high performers.

 

Frequently Asked Questions               Request a Demo

 


6 out of 10 adults with student loan debt would consider switching employers to receive help in paying off debt

2018 Talent Shortage Survey, Manpower Group


 

How Employer Student Loan Repayment Works

 

Toolkit

Customize & Implement

Your company decides which employees will receive this benefit. For example, new hires, employees with less than five years of service, and employees below a certain pay grade are among a wide variety of potential options. Management then determines how much contribution (as a percentage per year, as a dollar amount per month, etc.) to allocate. RISLA works hand-in-hand with Human Resources management to set up the program.

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Sign Up Employees

RISLA will communicate with any company-selected employees to explain the program and assist them with sign up. RISLA will also consult them regarding their student debt to allow the employee to make intelligent decisions regarding which loan the employer can help pay off faster.

 

Request a Demo

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RISLA Does the Heavy Lifting

Each month, RISLA will manage the employer’s contribution for payment application to the various servicers.  Once payments have been applied, we will then send confirmation emails to employees notifying them the employer contribution payment has been made. RISLA will also provide online reporting for employers and employees to view payment transactions, histories, and summaries.


"The burden of student loan debt has become salient and exhausting. It's crushing... there is a huge demand for student
loan assistance." -Julia Pollak, Labor Economist at ZipRecruiter

Why More Employers Are Helping Workers Pay Off Student Loans, CBS News


 

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Why Use RISLA for Employer Student Loan Repayment?

Student loan repayment assistance programs allow employers to help their employees pay off their loans faster. Employer student loan repayment is one of the fastest growing benefit additions among those organizations trying to overcome the dilemma of workforce talent shortages. This program also has the potential to make a big impact on the workplace satisfaction and overall wellness of your valuable employees. The best part, we do all of the work and you take the credit!
If you have more questions, please take a look at our FAQ

 

What We Do for Employers What We Do for Employees
Provide flexibility and customization to meet your recruiting and retention goals Provide employees with additional financial wellness tools and resources to help manage various aspects of debt, budgeting, and building credit to guide their financial stability and success for the future
Administer a customized communication plan to explain the benefits and program details to your employees Help relieve their financial stress and help them develop a smart strategy on how to apply this benefit to achieve the best results in reducing their student debt
Reduce your servicing workload by taking all employee calls and providing one-on-one assistance on how to get started and better manage student loan debt

Provide as-needed guidance, answering their questions and concerns when they call our highly rated and experienced customer service team.

Manage, on your behalf, all monthly emails (with your logo and/or message if you wish) informing employees that your company made another payment on their loan Keeping them informed by providing monthly updates and a sense of accomplishment on the progress being made in reducing their student debt

Request a Demo

 


Several companies say their programs have proven to be an effective recruitment and retention tool,
particularly in this tight labor market.

Why more employers are helping workers pay off student loans, CBS News


 

student loan refinancing

Refinancing can help by reducing interest rates and/or
monthly payment amount to save money.

 

CollegeBound Saver Logo

CollegeBound Saver is Rhode Island’s 529 college savings plan. With flexible investment options and no minimum contribution, it’s an easy, affordable way for Rhode Islanders to save for the future.

financial wellness

We provide education on topics such as credit, budgeting, student loan repayment, money management in a group or one-on-one setting.

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Check out some of the latest news articles about the employer student loan repayment assistance benefit.

RISLA - Since 1981

Financial wellness has been a part of our DNA since the beginning in 1981. Our evolution of services has grown exponentially throughout the years leading to product expansions beyond just student lending such as: parent loans, professional loans, the College Planning Center, student loan refinancing, internships, scholarships, and now assisting employers with student loan repayment for their employees.

We are the experts in student lending and repayment with over 30 years of experience. Loan servicing is a complicated process and we know this inside and out and can navigate this process for you, saving you time and effort, when offering a repayment benefit to your employees. RISLA is a non-profit organization and was the first non-profit in the country to offer education loan refinancing . RISLA was also the first and only student loan provider outside of the federal government to offer income- based repayment when a borrower has unexpected financial difficulties.