The CARES Act allows employers
to make tax-free student loan contributions for their employees.
We created
the SoFi Cares Program to make participation in 2020
as seamless as possible for
businesses of all sizes.
Designed with speed, cost, and compliance in mind, our program facilitates CARES Act contributions for employees paying off student debt. Participating businesses can contribute up to $5,250, tax free, at no cost for 2020.
Full access to our contribution platform at no cost for 2020.
Simply upload a file of eligible employees and your contribution amount, SoFi CARES handles the rest.
Employee engagement toolkit, co-branded collateral, and platform analytics to track your program.
Customizable finance benefits, such as student loan repayment, to support employees at every life stage.
75%
of surveyed employees say having an employer contribution benefit is very important to them.
99%
of respondents feel proud to work for an employer that offers student loan contributions.
53%
of employees responded that they are likely to stay with their employer because of this benefit.