SoFi Now Offers Student Loan Repayment as Employee Benefit

Big news: We’ve now funded over $1 billion in student loan refinancing to borrowers through our corporate partners (i.e. companies like Microsoft, Workday, and more).

What’s better? We’ve made student loan assistance a benefit for our own employees. Which means we’re helping them pay down student loan debt with $200 a month.

We’re proud to be one of the first companies in the country to offer such a perk. And we’re even prouder to have created the most generous program around, with no yearly caps.

Our team’s reaction:

Does your company offer a student loan benefit? If not, ask for it! More than 400 organizations—from the Fortune 10 and fastest-growing startups to top professional services firms, banks and membership groups—are helping employees pay down their student debt with SoFi. More information here.

This milestone comes on the heels of news that lawmakers are also working to make it easier and more appealing for employers to help their workers pay down student loans. The Employer Participation in Student Loan Assistance Act (aka H.R. 3861) would revise the tax law to prevent workers from getting taxed on any employer-sponsored student loan repayment plans. Now that’s a bill we definitely back. Sign our petition to make it a reality.

Check out the full press release.