STUDENT LOAN REPAYMENT

Provide company-sponsored student loan contributions.

Attract and retain college-educated talent,

with ease.

Start Any Time

Your company determines which employees are eligible for Repayment, how much it will contribute, the benefit holding period, and when the plan will become effective. Peanut Butter documents the terms, administers the plan, and communicates the timing to eligible employees. Need a holding period? Tiered contributions? Multiple plans? No problem, and no extra cost.

Digital Enrollment & Support

Set your program kick-off date and sit back. Employees enroll online in less than 5 minutes. After creating a secure account, eligible employees receive a welcome video and full explanation of the benefit. Your team doesn’t need to review loan information because Peanut Butter verifies each loan to make sure it complies with the terms of your plan. Employee questions? We’re here to help. Employees may email for support or call us toll-free.

Payment Management & Reporting

Don’t sweat the transactions. We enable the remittance of your contributions directly to each employee’s loan servicer. Employees can track your contributions on their dashboard, and receive a confirmation each time a payment is made, reminding them of how much faster they’re getting out of debt as a result of your company’s help. Your employer control panel is complete with static and on-demand reporting of program participation, effective dating, payment status, and impact.

Plus, get all of the benefits of
Student Loan Resources

Student Loan Resources

Employees receive curated advice & insights, the refinancing marketplace, debt counseling options, and financial wellness modules. Your HR team receives support for program administration, comms, and plan design.

So you can hire college-educated talent faster and retain them longer

85% offer acceptance

Among college-educated Millennials when Student Loan Repayment included in the benefits package.

36% longer tenure

Among college-educated Millennials when Student Loan Repayment included in the benefits package.

“Student Loan Assistance is a huge recruiting tool for us…it’s been a boon for us finding talent.”

Scott Conine, Chief Operating Officer at Rise Interactive

“We are seeing stronger employee retention in the population enrolled with Peanut Butter than the population without. We are also seeing more candidates come through our door!”

Elena M., Compliance and Regulatory Manager

“There has been virtually zero turnover of those participating in [our Student Loan Assistance program].”

Mike Ceretto, Vice President of People and Performance at Medix

“Each month when I get that email…and I know that I’m just a little bit closer, to paying off that loan – it definitely puts a pretty big smile on my face.”

Daniel Ripes, Vice President of Partnerships at Rise Interactive

“I was able to pay off my student loan about six months earlier than originally anticipated. Who doesn’t like a contribution towards repayment of their student loan? I just wish our company had introduced this sooner.”

Peanut Butter User

“We’re increasingly looking to meet our employees where they are, and offer them the benefits that they think are actually valuable, and that they’re going to appreciate, and that is going to make them more inclined to work at 1871 and be a part of what we’re doing here.”

Tom Alexander, Chief Operating Officer at 1871

Being an employer of choice has never been so easy