Student Choice partners with FutureFuel.io to bring highly desired student loan repayment benefits to credit unions
WASHINGTON, DC (January 11, 2019) — Credit Union Student Choice, the leading provider of higher education financing solutions to America’s credit unions, announced that is has partnered with FutureFuel.io to bring student loan repayment benefits to the credit union space.
“Student loan debt is the number one concern of the next-gen workforce,” said Scott Patterson, President and CEO of Credit Union Student Choice. “This unique partnership will allow credit unions to easily and efficiently deliver highly desired benefits that help their employees manage and repay student loans. In addition, we’ve worked closely with FutureFuel.io to customize their platform so that credit unions can also offer this solution to select employee groups (SEGs) who may be seeking to expand their benefit programs.”
Benefits tied to student loan repayment have been gaining popularity in recent years. In fact, according to a 2017 survey, 86% of young workers would commit to working five years for an employer that helped them repay student loan debt.
FutureFuel.io was founded in 2016 to specifically address this growing challenge. The company’s dynamic platform enables employers to implement a financial wellness and/or repayment assistance program while allowing employees to aggregate student loan information and utilize innovative tools to better manage and repay student loans.
According to Laurel Taylor, Founder and CEO of FutureFuel.io, the platform provides credit unions with an excellent opportunity to connect with the next generation of members by delivering key millennial-centric products, such as round up and student loan refinance solutions.
“Our objective is to be of service to millions of users, enabling those who are indebted to go beyond a place of stress and indebtedness to one that is of empowerment and hope – of financial health and wellness,” said Taylor. “Our partnership with Student Choice enables us to realize this mission by scaling to thousands of employees who work for the credit unions and the credit union’s select employee groups.”
Patterson also points out the partnership further solidifies Student Choice’s commitment to helping members at all stages of the higher education funding lifecycle.
“Since day one, Student Choice has always paired our lending solutions with straight-forward financial guidance aimed at helping students and families make responsible educating funding decisions,” said Patterson. “By partnering with FutureFuel.io, we are now giving credit unions the opportunity to play a helpful role in the repayment phase, a critically important period for millions of Americans.”
About Credit Union Student Choice
Credit Union Student Choice is a credit union service organization (CUSO) that positions credit unions as leaders in education finance by offering a comprehensive solution that helps them deliver fair‐value private education loans and corresponding financial education to students and families. For more information, visit www.studentchoice.org.
Your Student Debt SWAT Team: FutureFuel.io exists to crush student debt with technology, partnerships, and machine learning solutions, through an enterprise SaaS platform that makes student debt centric benefits easy for the employer and employee. FutureFuel.io’s FinHealth platform offers easy onramps to employers: round up, roll up, repayment, read, refinancing, and the data and analytics needed to support recent momentum around regulation and rulings (Retirement Parity for Student Loans Act; HR 795; recent IRS private letter opinion).