Peanut Butter’s new Student Loan Refinancing solution allows employers to help their employees refinance their student loans…for free.
Student debt is costly. Borrowers often agree to pay higher interest rates and larger monthly payments than may be feasible once they’ve started their careers.
Now, employers can help their employees save with Peanut Butter Student Loan Refinancing. This free employee benefit gives eligible employees access to Peanut Butter’s Refinancing Marketplace where more than 20 national and community lenders compete for each loan, so employees don’t waste time going to lots of sites to find a great deal. Employees can get quoted in minutes and view rates without a hard credit pull.
Peanut Butter’s Student Loan Refinancing benefit also equips employees with a set of Financial Wellness Tools. These resources can help borrowers better understand their debt and include information on Federal and private loan guidelines, payment options, consolidation, government programs, special offers and discounts.
When employers offer Student Loan Refinancing as a benefit to their employees, they receive an Employer Control Panel that allows them to kick-off their program in minutes and maintain secure access to on-demand reporting. They also receive a Communications Toolkit, complete with templates and best practices for program communication.
Employers also have the option to upgrade their offering to include Student Loan Resources, a comprehensive set of tools and guides to help employees take control of their debt, or Student Loan Repayment, which helps employees get out of debt sooner with monthly contributions directed to their student loan accounts.
Peanut Butter is a benefits administration firm built from the ground-up to help employers attract, retain and engage college-educated talent by providing Student Loan Assistance. When employers opt for the free Student Loan Refinancing solution, Peanut Butter earns advertising income to support operating costs, but when employers pay for services (e.g., Resources, Repayment), Peanut Butter continues to offer an unbiased and conflict-free solution that includes a rebate for employees that choose to refinance.
Top employers in every industry are already offering Student Loan Assistance to attract, retain and engage talent. Now, with Student Loan Refinancing, any employer of any size with any budget can offer Student Loan Assistance.