Amazing Mobile App Helps Students Pay Off Debts Quickly

A lot of companies run rest and relaxation programs to boost employee morale.

However, the problem is with the rewards. Gift vouchers and other perks are great ways to build loyalty, but they seldom work when it comes to retaining talent.

To retain talent, most companies have started offering student loan payment assistance programs as part of their employee perk packages.

This is where an amazing app called Goodly came into the picture. Founded out of a start-up incubator in 2017, Goodly is a tech-company focusing on helping small to medium-sized companies solve the problem of offering student loan repayment benefits and fostering a caring culture within the company.

The app relies on a simplified online platform and makes it easier to manage post-tax contributions towards the outstanding student loans of employees. Goodly shines out in the industry for its straightforward pricing, clear interface, and advanced reporting features that help employers deliver redemption benefits to each employee.

Not only is the app currently being used for recruiting by a variety of employers, but it also helps companies attract top talent by providing much-needed student loan repayment benefits instead of traditional employee rewards.

According to the team at Goodly, the app works in two ways:

In the case of employers,

It allows them to directly transfer the contributions on a post-tax basis towards every employee’s student debt.

Much of that is accomplished by a protected infrastructure device, and employers have the flexibility of depositing as little as $25 or up to $200 a month for student loan balances per account.

Employers can integrate this app with all major payroll software solutions and automate the process. Unlike other competitors in the student loan repayment benefits market, Goodly is directly integrated with more than 75 different providers.

This includes all of the major payroll vendors, saving a lot of time for companies that use the solution.

Companies

The ones using Goodly benefit from transparent pricing based on a flat per-participant fee. There are no implementation fees, recurring costs, or other hidden fees for using this service. As an employee, you don’t have to pay anything.

For employees, this app works as an interface to track the progress on repayments, total contributions received till date, and other relevant information. Registered employees can access this data directly through the mobile app.

Greg Poulin, Co-Founder and CEO of Goodly, remarked that even after partnering with each client to develop a repayment package, employees are usually providing a flat $100 monthly payment to cover a student debt loan.

Many businesses connect the payout to employment, beginning at $50, through to $75 in year two, and $100 in year three.

Repayment of student loans is one of the top ten expected benefits for today's workforce. Goodly makes the process simple for employers, which further benefits the employees.

Those who participate in the student loan repayment benefit can lower their student loan debt much faster than those who do not.

Moreover, the Goodly reward is a great way to attract and retain employees.

Finally, the app is highly secure and offers enhanced security features like audit logs and two-factor authentication. It is an easy to use platform focused on solving the problem at the core and streamlining the process so every employee can receive the benefits they prefer. If you’re looking to help your employees with timely student loan repayments, Goodly stands out as a bright choice.