When considering Student Loan Assistance, many employers have questions surrounding the flow of funds and how their contributions are applied toward employees’ student loans.
Once a client gets started with their Peanut Butter Student Loan Repayment program, they’ll provide us with their funding source. This is something we keep on file for future administrative fees and contributions. Once contributions are due, Peanut Butter sends each client a statement detailing participation in their program, and 2 business days later collects these funds via ACH. Then applies them directly to each employees’ student loan servicer. Directly impacting their outstanding balance, helping each individual get out of debt faster.
Like with any benefit, efficiency is key. Through our payment process, clients have confidence in the fact that their contributions are processed in a timely manner directly toward employees loans. Each employee even receives a notification from Peanut Butter each month, describing how much faster they’ll pay off their student debt thanks to their company’s help. To learn more about what our clients and their employees have to say about our solutions, visit our G2 review page @ https://www.g2.com/products/peanut-butter/reviews.