Colonial Life has partnered with FutureFuel.io to offer a program designed to reduce the life of employees’ student loan debt through education, refinancing options and making it easier for employees and their employers to contribute towards the debt.
FutureFuel.io has different options that a client can select for what best fits its employees and the company. Each option consists of the following features: Employees have the ability to manage all of their student debt in one location through a “roll up” feature, educational content is provided to keep employees informed about managing their debt, and there is a refinancing tool for employees who are looking to combine multiple payments or potentially reduce the interest rates on their student loans.
FutureFuel.io’s Round Up + Refinance option uses “rounding up” technology to automate spare change to make payments on student loan debt. The Repayment + Refinance option allows employers to make monthly contributions toward their employees’ student loan debt.
“We know that student loan debt can be a major cause of stress for millions of America’s workers, so offering our customers a chance to relieve some of that burden is an easy decision for us,” says Tim Arnold, president and CEO of Colonial Life. “Working with a strong partner like FutureFuel.io allows us to engage employees and their employers in a new and exciting way that helps take control of student debt.”