HMC Architects has signed on with Boston-based Gradifi, the industry’s leading provider of the Employer SLP (Student Loan Paydown) Plan benefit to introduce a new employee benefit: financial assistance to pay down student loan debt.
HMC joins the ranks of other progressive companies, including PricewaterhouseCoopers (PwC) in leading the charge to tackling our nation’s student loan debt crisis, which impacts 70 percent of recent college graduates in the United States.
“As part of our ongoing effort to make HMC an even greater place to work, I’m really excited about this partnership and the help it can bring to those with student loan debt,” says Brian Staton, President and CEO of HMC Architects.
Gradifi’s SLP Plan benefit, announced in 2015, gives businesses the opportunity to help eliminate the $1.3 trillion student loan problem and pay down employees’ student loan debt. Companies contribute directly through structured and secured channels towards their employees’ student loan principal on a monthly basis. These contributions can take years off student loan balances, potentially shaving three of more years off of a 10-year-loan.
Beginning in January 2019, HMC will supplement eligible employees’ regular student loan payments with a monthly contribution through the Gradifi-managed SLP Plan benefit.
“At HMC, we believe in serving the greater good,” says Staton. “With the amount of student loan debt in America continuing to grow, HMC wants to invest in its people so that these contributions cut years off their loans, and they can focus more on their financial goals.”