Peanut Butter Insights: Are company contributions applied to employees’ principal balance?

Peanut Butter Insights: Are company contributions applied to employees’ principal balance?

by | Feb 13, 2025 | Benefits, Employee Benefits, FAQ, Human Resources, Insights, Plan Design, Program Management, Student Loan Assistance, Student Loan Repayment

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...
Peanut Butter Insights: Should employers conduct enrollment at the same time as their health plan enrollment?

Peanut Butter Insights: Should employers conduct enrollment at the same time as their health plan enrollment?

by | Feb 13, 2025 | Benefits, Decisions, Employee Benefits, FAQ, Features, Human Resources, Insights, Plan Design, Program Management, Student Loan Assistance, Student Loan Repayment

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...
What should employers keep in mind when designing their Student Loan Assistance plans?

What should employers keep in mind when designing their Student Loan Assistance plans?

by | Dec 26, 2024 | Benefits, Differentiation, Employee Benefits, Employee Engagement, FAQ, Features, Human Resources, Insights, Plan Design, Program Management, Student Loan Assistance, Student Loan Repayment

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...
Should employers process employee payments via payroll?

Should employers process employee payments via payroll?

by | Dec 5, 2024 | Benefits, Decisions, FAQ, Features, Human Capital, Human Resources, Insights, Plan Design, Program Management, Student Loan Assistance, Student Loan Repayment

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?

Are employees’ spouses or family members able to participate in a Student Loan Repayment program?

by | Nov 26, 2024 | Benefits, Decisions, Differentiation, Employee Benefits, FAQ, Features, Human Resources, Insights, Plan Design, Program Management, Student Loan Assistance, Student Loan Repayment

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

Keeping Retirement Plans and Student Loan Assistance separate create the best outcome for employers and their teams

by | Nov 12, 2024 | Benefits, Decisions, Differentiation, Employee Benefits, Financial Wellbeing, Human Capital, Human Resources, Insights, Plan Design, Program Management, Student Loan Assistance, Student Loan Debt, Student Loan Repayment

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....