PURE Group launches $ 100 / month student loan assistance service
No one is immune to this trend. that’s why The PURE group of insurance companies (PURE Group) has partnered with fintech company CommonBond to add a student loan assistance program to its benefit package.
“CommonBond provides student loan repayment assistance. Through this new partnership, PURE Group will offer $ 100 per month in addition to the regular repayment of an employee’s student loan. Just like speeding up mortgage or vehicle payments, this benefit dramatically reduces loan term and interest charges over time, ”said Katherine Richardson, who has been appointed. last week Human Resources Director of PURE Group.
“We are really excited about this new partnership with CommonBond. We are constantly evaluating which benefits would be most significant for our employees. We believe this is a unique opportunity to reduce the burden on students with debt and allow them to focus on building the next chapters of their lives.
In addition to the $ 100 addition, PURE employees will also have access to the CommonBond for Business repayment assessment platform, which includes an overview of income-based options and loan cancellation, as well as personalized recommendations for consolidating and refinancing private and federal loans. Those who are parents can use the solutions offered by the tech company to plan and pay for their child’s undergraduate or graduate studies.
“This benefit is not specific to age. Any employee with an eligible student loan is eligible. However, with a significant share (around 60%) of the assets of PURE Group the workforce being millennials, our interest grew out of how we can help this segment of the population have a solid financial footing early in their careers, ”said Richardson. Insurance company.
“In focus groups with our employees, we heard that many people’s disposable income was being consumed by paying off student debt, and many of our young employees felt they couldn’t save for their future. This benefit of student loan assistance really resonated with them.
the PURE Group added this benefit to its growing list of offerings, such as flexible time off, which includes designated paid time off for volunteering, tuition reimbursement for career-related certifications, and passion-related courses, and discounts on fitness. Richardson described the package as “a reflection or the commitment of PURE Group to the whole person we hire.”