SoFi has added 529 contributions to its employer benefit program, SoFi at Work. Employees will now be able to link their existing 529 plans with SoFi’s portal and make contributions from their paycheck. In addition, employers can enable monthly contributions to the plans.
The personal finance company is also planning to release a selection tool that will allow employees to select a plan that best fits their individual financial situation. Anthony Noto, CEO at SoFi, says the company — which is most well known for its student loan refinancing program — has helped 250,000 members refinance $18 billion in student loans.
