Colonial Life Program Helps Workers Ease Pupil Mortgage Debt

COLUMBIA, S.C. (March 6, 2019) — Colonial Life shoppers can now ease their workers’ worries over scholar mortgage debt, because of a brand new partnership with FutureFuel.io.

Colonial Life’s new program can support employers of their efforts to assist a debt-free future for the rising U.S. workforce saddled with scholar mortgage debt. This program is designed to scale back the life of every person’s scholar mortgage debt by way of schooling, refinancing choices and making it simpler for workers and their employers to contribute.

Pupil debt now tops an estimated $1.5 trillion, and greater than 25 p.c of full-time employees between 23 and 53 named funds as the highest reason for every day stress in a latest Colonial Life survey.

“We all know that scholar mortgage debt generally is a main reason for stress for tens of millions of America's employees, so providing our prospects an opportunity to alleviate a few of that burden is a straightforward resolution for us,” stated Tim Arnold, president and CEO of Colonial Life. “Working with a powerful associate like FutureFuel.io permits us to have interaction workers and their employers in a brand new and thrilling means that helps take management of scholar debt.”

FutureFuel.io has totally different choices consumer can choose for what most closely fits their workers and firm. Every possibility consists of the next options: Workers have the flexibility to handle all of their scholar debt in a single location by way of a “roll up” function, instructional content material is supplied to maintain workers knowledgeable about managing their debt, and there’s a refinancing device for workers who need to mix a number of funds or probably cut back the rates of interest on their scholar loans.

FutureFuel.io’s Spherical Up + Refinance possibility makes use of “rounding up” expertise to automate spare change to make funds on their debt. The Reimbursement + Refinance possibility permits employers to make month-to-month contributions towards their workers’ scholar mortgage debt.