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Insights and best practices on Student Loan Assistance
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Peanut Butter Insights: Are company contributions applied to employees’ principal balance?
One questions that comes up during meetings with clients and prospects is, if we choose to offer Student Loan Repayment are company contributions applied toward our employees' principal balance? To answer that question. Employer-sponsored contributions are applied...
Peanut Butter Insights: Should employers conduct enrollment at the same time as their health plan enrollment?
During our discussions with potential clients. A common question that comes up is when employers should offer Student Loan Assistance during the calendar year, and should this timeline align with their health plan open enrollment? What we've found, is that it is often...
Peanut Butters Earns Six G2 Badges for Winter 2025
G2 is the world's largest business to business software review platform, helping organizations identify the best technology for their product needs. Each quarter, the platform honors top vendors for how they stand-out in their respective industries. For Winter 2025,...
What should employers keep in mind when designing their Student Loan Assistance plans?
When discussing the set-up of a Student Loan Assistance program with clients, there's always a few recommendations we have for employers on what should be top of mind. In this post, we'll outline these key elements in three rules of thumb. In our experience, the rules...
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[Voluntary Advantage] What Your Business Needs to Know About Student Debt in 2025
This article was originally published by Voluntary Advantage in the December 2024 edition of the Voluntary Benefits Voice. To read the full publication, click here; this article appears on page 21-22. Just over a year ago, our CEO Dave Aronson had the opportunity to...
Should employers process employee payments via payroll?
During discussions with potential clients, one question that comes up from time to time is based on employee student loan payments and payroll. Wondering if they can/should process employee payments through their payroll system. This post helps answer this question...
Are employees’ spouses or family members able to participate in a Student Loan Repayment program?
When meeting with potential clients and partners, one of the common questions we get on program best practices surrounds spouse and family member participation. To answer this question, no, an employee must be listed as the primary borrower on the student loan in...
Keeping Retirement Plans and Student Loan Assistance separate create the best outcome for employers and their teams
It has now been close to a year since the Secure Act 2.0 was approved and options were added for employers to tie their retirement plans to other programs like Student Loan Assistance. In our experience, this hasn’t been taken up as a common approach for employers....
Is the SAVE Student Loan Repayment plan making a difference for your employees?
Nationwide, many individuals are utilizing the SAVE plan to lower monthly payments on their student loans and in their minds putting themselves in a better position financially. The SAVE plan is income-driven and payments are altered by each unique person’s earnings....
Private Letter Ruling Adds Unnecessary Complexity to Student Loan Assistance
In a recent statement from the IRS, an unnamed employer received access through a private letter ruling to defer 401k matching dollars to student loans through a Section 127 plan tax-free. Similar to the private letter ruling Abbott Labs received in 2018 to count...