A latte costs $4.50 — round it up to $5 even and that extra 50 cents can help employees pay off their student debt years sooner.
UMassFive College Federal Credit Union is experimenting with such a benefit. The credit union’s new student loan repayment benefit uses change from employees’ personal purchases to pay down the interest of student loans. All 125 UMassFive employees have access to the benefit through its digital platform and app. The credit union’s executives are confident the new addition, which is provided through student loan repayment vendor FutureFuel.io, will make them attractive to job seekers.
