Motus Selects Gradifi to Expand its Student Loan Repayment Program
September 15 2017 - 9:00AM
Business Wire
Premier vehicle management and reimbursement
platform streamlines benefits with Gradifi’s SLP Plan™
Gradifi, a leader in student loan repayment benefit programs for
U.S. employers, today announced that its SLP Plan™ program has been
selected by Motus, a Boston-based technology company and early
adopter of a student loan repayment benefit for its employees.
Motus, which began offering a student loan repayment benefit in
2014, is partnering with Gradifi to scale its program and ensure
that company contributions to pay down an employee’s student loans
have the maximum impact.
“Motus understood early on the value of providing student loan
repayment relief to team members,” said Kristen Dooley, Chief
People Officer at Motus. “We chose Gradifi to expand this very
popular benefit because its tech-driven solution allows us to
administer our program with greater efficiency. Today’s college
graduates are the most educated generation in America’s history. At
Motus, our commitment to helping young professionals manage their
student debt is part of our broader mission to make work life
better for our team.”
For an employee with a loan balance of $26,500 – the median
amount borrowed for a bachelor’s degree – a $100 per month employer
contribution for a loan at 4% over 10 years would save over $10,000
in principal and interest. The employer contribution would result
in a 30% reduction in total payments, and the loan would be paid
off three years faster.
“Motus is one of the first companies in the country to recognize
the importance of offering student loan relief to employees, and
that foresight has translated into a competitive advantage in
attracting and retaining talent,” said Tim DeMello, founder and CEO
of Gradifi. “As an innovator, Motus is a case study in success in
how a student loan repayment can achieve a company’s strategic
business goals.”
To learn more about Motus’ culture and career opportunities,
visit https://www.motus.com/our-culture/.
About Motus
Motus is passionate about leveraging technology to make work
life better for mobile workers and their managers, so it’s
especially committed to creating programs that help its own team
members achieve a better work life. These programs encourage Motus
employees to WorkSmart by self-managing their own success;
WorkHappy by letting their curiosity, bravery and exceptionality
shine; and WorkHealthy by staying active. For more information,
please visit www.motus.com or connect with us on Twitter, Facebook,
or LinkedIn.
About Gradifi
Gradifi is a best-in-class, student loan repayment solution
addressing the nation's student loan problem. Gradifi helps
organizations attract and retain talent by enabling employers to
make direct contributions to their employees’ student loans and
accelerate the pay-off of the debt. A wholly owned subsidiary of
First Republic Bank (NYSE:FRC), Boston-based Gradifi offers the SLP
Plan™ (Student Loan Paydown) benefit to employers of all sizes.
Gradifi works with more than 150 employers across the U.S. and is
endorsed by the American Bankers Association through its
Corporation for American Banking subsidiary. To learn more, visit
www.gradifi.com or twitter.com/gradifi.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170915005136/en/
For MotusJessica MacGregor, 617-986-5024motus@famapr.comorFor
GradifiElizabeth Yekhtikian, 617-686-9541gradifi@inkhouse.com
First Republic Bank (NYSE:FRC)
Historical Stock Chart
From Mar 2024 to Apr 2024
First Republic Bank (NYSE:FRC)
Historical Stock Chart
From Apr 2023 to Apr 2024