PayForED announced today that its Student Loan Assistance and College Affordability platform is now available on ADP Marketplace, a digital storefront for HR solutions offered by ADP®, one of the world’s leading providers of cloud-based human capital management solutions. PayForED integrates with the ADP Workforce Now® platform to seamlessly and securely share employee data between the two systems, helping clients save time on duplicate data entry.
The PayForED platform offers a comprehensive approach for the 45 million people with student debt by generating easy to understand answers at each stage of the student loan decision and repayment process.
To date, most Student Loan Assistance Programs have focused on repayment only. Of the 45 million borrowers with student loans, almost half are not in repayment and are still incurring future debt. As an example, a recent Forbes article identifies how student debt is surging among Baby Boomers and people over the age of 50.
PayForED is a budget-friendly solution for companies, that has a high ROI for their employees’ financial wellness. The biggest difference is PayForED’s focuses on the household and not just individual employees. This helps improve the overall employee satisfaction levels impacting retention, productivity, and recruiting.
With ADP’s fully integrated HR ecosystem, the implementation and administration are made easy for PayForED users. “We are excited to help ADP clients and their employees reduce the financial stress related to student loans and repayment decisions,” said Fred Amrein, CEO of PayForED. “Our holistic approach to the student debt crisis is designed to help the overall financial wellness for ADP’s business clients.”
Learn more about PayForED on ADP Marketplace here.
PayForED is the first company to have a complete technology platform designed to help employees navigate the entire college funding and student loan repayment journey. Our approach generates customized, easy to understand answers to borrowers, students, and parents at each financial decision point. For more information, visit https://www.payfored.com/employers/ or call 610 978 3100.
ADP, the ADP logo, and ADP Workforce Now are trademarks of ADP, Inc. or its affiliates or licensors. The information in this document was prepared by PayForED and PayForED is solely responsible for its accuracy and completeness. ADP makes no representation as to the accuracy or completeness of any information contained herein.