Gradifi and the Massachusetts Educational Financing Authority Team Up to Offer Student Loan Refinancing Options
July 18 2019 - 9:00AM
Business Wire
Gradifi’s Student Loan Refinancing
Marketplace Now Includes MEFA Loans
Gradifi, a leading provider of student loan and college savings
employee benefits, today expanded its student loan refinancing
marketplace with the addition of Massachusetts Educational
Financing Authority (MEFA), a not-for-profit organization with a
mission to help students and families access and afford higher
education and reach financial goals.
MEFA is now one of four lenders within the Gradifi platform that
can refinance student loans for borrowers. The other existing
lenders are Earnest, LendKey, and First Republic Bank (NYSE:FRC).
First Republic is the parent company of Gradifi.
Gradifi CEO David Chang, said: “MEFA is a mission-driven,
high-quality lender that works to help individuals and families
afford college and reduce the burden of student loan debt. MEFA
shares Gradifi’s commitment to supporting people who invest in
education to better themselves and their communities.”
MEFA Executive Director Thomas M. Graf, said: “Gradifi and MEFA
have a shared mission of helping families manage their finances to
achieve financial goals. We’re pleased to partner with Gradifi to
provide a solution for student loan borrowers seeking a better way
to manage their monthly loan payments.”
Founded over 35 years ago, MEFA is a self-funded public entity
that provides new student loans and refinances existing student
loans for individuals and families across the United States. MEFA’s
financial products also include two college savings programs, the
U.Fund® 529 College Investing Plan and the U.Plan® Prepaid Tuition
Program, as well as the Attainable Savings Plan℠, created to help
families save for the expenses of eligible individuals with
disabilities. MEFA also offers unmatched expertise, comprehensive
guidance, and a full range of educational tools and services
related to every step within the college planning process.
Gradifi Refi is one of three employee benefit programs that
promotes financial wellness. Gradifi’s SLP (Student Loan Paydown)
Plan® allows employers to make a regular contribution to pay down
an employee’s student loan debt. Gradifi’s College SaveUp Plan
allows employers to make contributions to employees’ 529 college
savings plans to help pay for college. Gradifi supports more than
750 employers across the U.S.
To learn more about Gradifi’s solutions, please email
info@gradifi.com or call (844) GRADIFI (472-3434).
About MEFA
MEFA is a not-for-profit, self-financing public entity
established in 1982. MEFA’s mission since its founding has been to
help students and families access and afford higher education and
reach financial goals through education programs, tax-advantaged
savings plans, low-cost loans, and expert guidance. All of MEFA’s
work aligns with the ever-present goal to support the independence,
growth, and success of students and families. Visit mefa.org to
learn more or follow MEFA on Twitter @mefatweets and on Facebook at
mefaMA.
About Gradifi
Gradifi is an innovator in employee benefits for U.S. employers.
Gradifi’s mission is to help employers build loyalty with their
workforce by providing employee benefits that positively impact
their employees’ financial well-being. Gradifi offers an
all-in-one, cloud-based platform that allows employers to offer
student loan refinancing opportunities, and employer-sponsored
contributions to student loans and 529 college savings plan
accounts. A unit of First Republic (NYSE:FRC), Gradifi works with
employers of all sizes across the U.S. gradifi.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20190718005157/en/
MEFA Media Contact Lisa Rooney, 617.224.4838
lrooney@mefa.org
Gradifi Media Contact Ed Harrison, 781.966.4158
gradifi@inkhouse.com
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