SHRM leaderboard 12/19/16

Student Loan Refinancing

Available from SoFi at Work

Your employees have worked hard, they deserve better. Student loan refinancing as a no-cost benefit to your employees increases recruitment and retention of top talent. SoFi borrowers save an average of $13,917 over the life of their loan which helps increase participation in retirement plans and boosts financial wellness.

Classic Partner Model: SoFi has over 400 partnerships with top Fortune 500 companies, law firms and associations (e.g., Microsoft, Ernst & Young and White & Case) to offer student loan refinancing as a voluntary employee benefit.
Employees can refinance to reduce the cost of their student loans at no cost to company
Employees receive a $300 welcome bonus upon refinancing through company’s custom URL
Use the link sofi.com/300 to offer a $300 welcome bonus to your employees.

Subsidized Model: On top of employee savings from refinancing with SoFi (at no cost to company), employers can choose to also contribute to employees’ student loan payments.

Main benefits include:
SAVINGS
Variable rates start at 1.90% and fixed rates start as low as 3.50% APR (with AutoPay)
NO FEES. NO CATCH.
No application or origination fees. No pre-payment penalties.
CONVENIENCE
Borrowers consolidate all their loans – federal and private – into one loan with one bill.
UNEMPLOYMENT PROTECTION
If a borrower loses their job, we’ll pause their loan payments and help them find a new job.

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