November 16, 2017

Gradifi, a leader in student loan paydown benefit programs for U.S. employers, today launched College SaveUp Plan, an innovative HR benefit that will help employees save for college for their children.

Gradifi’s College SaveUp Plan benefit enables companies to make monthly contributions to an employee’s existing 529 college savings account. A 529 plan is a tax-advantaged savings account available to families in almost every state in the nation.

College SaveUp Plan is designed as a stand-alone employee benefit or can be integrated with Gradifi’s SLP Plan® (Student Loan Paydown) benefit, which allows employers to make contributions to accelerate the payoff of an employee’s student loan debt. Gradifi has commitments from nearly 250 companies to offer its SLP Plan.

Gradifi is the first to bundle both a student loan repayment and college savings program benefit in a single, scalable, easy-to-implement platform.

“With 44 million Americans struggling with student loan debt, we see an opportunity to extend our student loan repayment platform and integrate a college savings benefit,” said Gradifi CEO Tim DeMello. “This is another game-changer from Gradifi that will help families avoid student loan debt and enable employers to differentiate themselves in the marketplace.”

Steve Connelly, CEO of Connelly Partners, which is offering the SLP Plan to its employees, said: “Paying down student loan debt is beyond stressful for half our employees, and Gradifi has given us a way to help them. Saving for college is equally stressful for the other half of our employees. And now Gradifi has a way to help them as well.”

College SaveUp Plan is part of Gradifi’s broader mission to help employers support their employees’ investment in education and address the challenges of financing higher education.

Nationally, college tuition has been rising 6% annually. At that current rate of increase, the cost of a private college education would be $500,000 in 18 years. In terms of student loan debt, many borrowers are struggling as student debt continues to rise. Nationally, the median amount borrowed for a bachelor’s degree is $26,500 and is $45,000 for an MBA, according to research commissioned by Gradifi.

College SaveUp Plan gives employers the flexibility to set the program’s eligibility requirements and the dollar amount of the contribution, just like the SLP Plan offering. Employees must have an established 529 savings account to receive the employer contribution.

About Gradifi

A First Republic company, Gradifi is an innovator in educational employee benefits for U.S. employers. Gradifi offers both a student loan repayment benefit and college savings benefit program through its scalable, easy-to-implement online platform. Gradifi’s mission to help employers compete more effectively for talent by providing employee benefits that support an employee’s investment in education. Gradifi works with nearly 250 companies across the U.S, and the company’s SLP Plan® is endorsed by the American Bankers Association. To learn more, visit


Elizabeth Yekhtikian, 617-686-9541

The material provided by E*TRADE Financial Holdings, LLC or any of its direct or indirect subsidiaries (E*TRADE) or by a third party not affiliated with E*TRADE is for educational purposes only and is not an individualized recommendation. The information contained in the third-party material has not been endorsed or approved by E*TRADE, and E*TRADE is not responsible for the content. This information neither is, nor should be construed as, an offer or a solicitation of an offer, or a recommendation, to buy, sell, or hold any security, financial product, or instrument discussed herein, or to open a particular account or to engage in any specific investment strategy by E*TRADE.

The E*TRADE Financial family of companies provides financial services, including trading, investing, banking, and managing employee stock and financial wellness benefit plans.

E*TRADE Financial Corporate Services, Inc. offers the Gradifi suite of financial wellness solutions, enabling employers to provide their employees student loan and college savings benefits.

Content and services available to non-US participants may be different than those available to US participants.

This is not an offer to sell or a solicitation of an offer to buy securities, products or services, by any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation.

The laws, regulations, and rulings addressed by the products, services, and publications offered by E*TRADE Financial Corporate Services, Inc. and its affiliates are subject to various interpretations and frequent change. E*TRADE Financial Corporate Services, Inc. and its affiliates do not warrant these products, services, and publications against different interpretations or subsequent changes of laws, regulations, and rulings. E*TRADE Financial Corporate Services, Inc. and its affiliates do not provide legal, accounting, or tax advice.

Always consult your own legal, accounting, and tax advisors. E*TRADE Financial Corporate Services, Inc., American Student Assistance (ASA), LendKey, Earnest, and MEFA are separate and unaffiliated companies.

E*TRADE Financial Corporate Services, Inc. (NMLS ID: 1959157)

© 2021 E*TRADE Financial Holdings, LLC, a business of Morgan Stanley. All rights reserved.