LoanSense - Personalize your student loan benefits
Modernize your benefits. Give employees what they need.
They will join quicker. Stay longer. Be more engaged
82%
of employees with student loan debt said they will stay up to 5 years if they received help paying off their loans.
1 in 4
employees leave in less than a year.
Who replaces your star executives when they leave?
LoanSense retains employees past 3 years to help you build your employee pipeline
50%
of Americans can't or should not refinance.
We're student loan experts with the best solution for both public and private sector employees
We reduce the most debt
LoanSense does not add significant cost
We give employees a choice between benefits such as tuition reimbursement, retirement matching, etc and a student loan repayment benefit.
It's now a tax-exempt benefit.
Plus, turnover is expensive. We save you money.
How It Works?
Advise
Employees upload their loans. We help them reduce and manage their loans in one easy dashboard.
Allocate
Employees have a choice on how to use company matching dollars.
Auto-deduct
LoanSense tracks the loan match and applies employer loan matching directly to employees' loan servicer.
Employers can purchase a combination of the three products. Request customized pricing.
How we add value to your firm.
Traditionally
Benefits are standard and nothing sets employers apart.
Employee starts with understanding of salary but with little to no understanding or care to other benefits.
Employers do not see the benefit plan as a strategic purchase to advance company values. Nobody is responsible for retention or employee pipeline building.
LoanSense
LoanSense speaks directly to the largest financial pain point of our generation-student loan debt. It set you apart.
LoanSense clearly articulates the total savings as a result of employer help.
LoanSense is a strategic purchase and provides thorough thought leadership to better the employee experience.
Want to ask something about us ?
What if our company does not want to give choice on allocating retirement match? If we did want to, do we have to change our retirement plan documents?
If you all have tuition reimbursement, PTO or other perks, you can give choice on those perks or a student loan contribution. You can also decide on giving a straight up direct student loan contribution, if that's easier.
Employer student loan payments are made after the retirement contributions are already distributed, so you do not need to modify your Retirement Summary Plan Documents (SPD). LoanSense will not impact your retirement plan.
How does the student loan advisory solution work for public and private sector employers?
Well, the best loan programs are managed by the federal government. They forgive interest off of federal direct student loans. LoanSense identifies the best plan and helps employees file into these plans. For those working in the nonprofit or government sector, employees get their loans forgiven in 120 payments, if they file all their paperwork correctly. 71% of borrowers are currently committing paperwork errors LoanSense fixes. We file correctly and help your employees get loan forgiveness. Additionally, we streamline the process for employer signature and reduce the work for your HR department as well.
Additionally, LoanSense offers amazing personalize accelerators calculator and understanding on how tax filing affects employees student loan payments.
The student loan advisory solution can be relevant to private sector employers if employees have very high debt to income and need access to federal plans based on their income.
How are you different from the other competitors in the marketplace?
We are not a refinance first platform. We are an agnostic advisor and recommend what is best for your employee. We streamline paperwork filing to get the greatest debt relief. We do not round up change or do small actions that have small impact compared to enrolling into a government income-driven plan or getting employer repayment matching.
We are 100% research based and have quality tools that even financial planners use. No other solution gives detailed tax insights and provides as in depth of guidance. We are build by education policy and student loan experts who served thousands before writing one line of code.
Does LoanSense integrate with my retirement plan?
No. LoanSense is a separate service. However, you can distribute the contributions between the two programs and designate a maximum contribution allocated to each employee between the two programs. We are easy to implement.
How do my employees know how to make elections? How does it work?
LoanSense has an amazing personalized calculator that explains how distributions affect their employer match between their retirement plan and their student loans. Employees decide based on their own financial goals. 
Do I need to make any changes during open enrollment?
No. LoanSense can be implemented at any time and can allow changes to the contribution level based on employer preference.
Partners
Security
LoanSense uses 256 bit encryption, the standard bank level encryption, to protect user data.
Privacy
We do not share employees' personal data with any third parties for marketing purposes.