Innovative technology companies Pinterest, Twilio and Spredfast are offering student loan benefit plans to alleviate employee debt and boost productivity.
Student Loan Genius, leading student loan benefits provider and financial wellness solution, has today announced its student loan benefit is now a part of the benefits packages for Pinterest, Twilio and Spredfast employees.
With 70 percent of today’s graduates entering the workforce burdened with student loan debt, forward-thinking employers are increasingly moving to incorporate student loan repayment assistance into employee benefits offerings in a bid to attract and retain talent and help impact the nation’s $1.3 trillion student loan debt crisis.
“In a competitive environment, organizations have to think outside the box to attract and keep top talent and foster the kind of workplace cultures that drive innovation – especially in the technology sector,” said Tony Aguilar, CEO at Student Loan Genius. “Pinterest, Twilio, Spredfast and our other clients are seriously committed to their employees’ financial wellness. That commitment is helping solve a giant problem in our economy today.”
More than 1,000 employees at Pinterest, and 500 employees of social marketing company Spredfast, recently gained access to the Student Loan Genius’ platform and the technology that’s helped other users cut their monthly payments by an average of 38 percent. Meanwhile, employees of cloud communications startup Twilio have been receiving student loan help for 10 months.
“Social media is the fastest moving industry we’ve ever seen. We need the very best talent to be able to keep up with the pace of innovation, and always looking for new ways to invest in our team is a huge part of that process,” said Carol Howard, SVP of Human Resources at Spredfast. “Offering Student Loan Genius was an easy decision. By removing barriers, like financial stress, we allow our employees to focus on the things that matter, like delivering the very best product to our customers every day.”