DALLAS, TEXAS (PRNewswire) June 26, 2018
Viverae®, a leader in workplace wellness, and FinFit®, a nationwide leader in financial wellness, are proud to announce FinFit's new student loan assistance enhancement, through their partnership with StuLo®. The program gives members of Viverae's financial wellness program access to valuable student loan reduction resources like student loan specialists and the Student Loan Refinance Marketplace.
According to the Federal Reserve, Americans owe approximately 1.5 trillion dollars in student loan debt, and that number is steadily rising. As national student loan debt continues to increase, so does the need for both financial wellness and student loan benefits. Yet, financial health is one of the most overlooked aspects of well-being. As a result, both employees and employers suffer. The more time employees spend worrying about their finances, the more likely they are to be absent from work and stressed out while on the job. They're also more likely to experience health issues, which can raise an employer's insurance costs and negatively affect their bottom line.
The good news is, student loan debt programs are beneficial to both employers and employees. Research shows that over 50 percent of U.S. workers would prefer student loan repayment benefits over extra paid time off. In addition, American Student Loan Assistance® found that 86 percent of millennial employees would stay with their current employer for at least five years if a student loan relief benefit was offered.
With FinFit's partnership with StuLo, employers can now provide comprehensive student loan and financial wellness benefits to their employees. Clients' members can consult with student loan specialists on repayment options and loan reviews.
FinFit's VP of Product Management, Pete Ostberg, says, "We're constantly evaluating our program to ensure that we remain the leading financial wellness solution. We are excited to expand our offering with Viverae by providing a student loan debt relief component through StuLo. Knowing that over 44 million Americans are saddled with student loan debt, we knew it was essential to provide our members with an impactful solution."
Viverae's president and chief executive officer, Mike Lamb, echoes similar sentiments saying, "At Viverae, we value all aspects of well-being—including financial health. This is why we were one of the first wellness companies in the country offering financial wellness to members. Working with FinFit has allowed us to provide comprehensive financial wellness solutions to our clients. We're confident their new StuLo program will help our clients' members better manage and find freedom from student loan debt."
The program is now available to all Viverae clients and their members.
Viverae is a workplace wellness company based in Dallas, Texas. Rooted in care and focused on reducing health risks, our innovative application empowers employers to create cultures of health and well-being. We bring clarity. We inspire. We support. Learn more: www.viverae.com. Viverae's workplace wellness programs are compliant with Affordable Care Act requirements and applicable law, and National Committee for Quality Assurance and national health advocacy group standards.
Founded in 2008, FinFit has grown to be the nation's largest financial wellness benefit servicing over 110,000 clients. FinFit provides a self-directed online experience that lets employees measure their financial fitness and provides fun, educational resources and tools to increase their financial knowledge and drive results. FinFit helps to eliminate stress in the workplace by providing real-time solutions that offer real-world help when it is needed most. FinFit is a powerful way for employers to attract and retain talent by helping employees get focused, get healthy and become more productive.
StuLo is an employee benefit and association-member benefit program that is focused on: financial wellness, student loan debt relief, and credit repair services. The benefit program takes a wholistic approach to providing a financial wellness benefit for all employees and members—not just a benefit to help student loan holders only. The aggregation of financial-related benefits includes: general financial coaching and online tools, concierge services to help with federal student loan consolidation enrollment, private student loan refinancing marketplace, concierge services to help with credit repair, accident disability insurance, and identity theft protection. As an alternative to an expensive, employer-funded student loan repayment assistance benefit, StuLo provides significant benefit value at little to no cost to the employer.
About Student Markets Group Inc. and Coterie Advisory Group Inc.
Student Markets Group, which is owned by Coterie Advisory Group, is the national program manager for the StuLo benefit program. The companies provide consultative services and product solutions that are dedicated to helping consumers in the insurance and benefits industry—including the rising concerns of affordable health insurance and student loan debt relief. Their packages of consumer-centric insurance and non-insurance programs solve real-world problems, make a meaningful difference in consumers' lives, and have a track-record of being market-leading and market-changing. https://StuLoWellness.com | https://coterieadvisors.com
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For more information on how to offer StuLo to employees or association members, contact your employee benefits broker or call StuLo at 602-888-8144 or visit https://StuLoWellness.com.