How Does the LEAF Platform Work?
The LEAF platform is a smart, seamless way to administer financial wellness benefits. More simply put: it saves employees money. This makes them happier and more productive. And that makes the workplace a better place. Once they’re enrolled, employees can contribute to one or more 529 college savings plans, make student loan payments, or both. With easy payroll deductions of as little as $25, they’ll see the payoff without feeling it. If we’ve learned anything from implementing our platform at countless companies over the years, it’s that small amounts make a big difference.
What Does the LEAF Platform Provide?
LEAF takes the headaches out of HR benefits administration with an easy-to-use portal to education savings and student loan repayment programs that integrates into existing employee benefit solutions. Our platform supports 529 college savings, student loan repayment (with optional employer cash payments including matching) and education gift cards.
Here’s a little bit more about what those programs do:
529 College Savings
A 529 plan is an invaluable catalyst for college savings. With the average cost of tuition becoming borderline astronomical (and in no position to decrease), 529 plans are becoming an increasingly popular way to set aside money for future higher education costs.
The LEAF platform helps 529 plans grow by allowing employees to contribute post-tax dollars via simple payroll deductions. For example: if someone were to pay just $3 a day, their combined savings and plan investment growth could could accrue to more than $5,000 for college tuition in just over three years. That’s one cup of coffee per day. Most of us are already doing (and drinking) that!
Student Loan Repayment
Americans owe more than $1.44 trillion in student loans, spread out among about 44.2 million borrowers. One of the biggest groups, not surprisingly, is Millennials between the ages of 20 and 30, and they’re paying down an average of $351 a month. In most cases that’s the minimum payment required from their provider.
Where does LEAF come in? The LEAF platform accelerates how quickly they can unearth themselves from their student loan debt by seamlessly contributing through their employer's existing payroll system. They can sign up, select an amount they won’t miss, and watch how much fastervthey can get out from under their student loan debt.
Education Gift Cards
LEAF’s education gift cards are a simple and thoughtful way to contribute to an existing 529 plan. A customized card can be purchased and redeemed on our website within minutes and presented as a gift for a baby shower, birthday, graduation, or simply just because.
The LEAF education gift card amount is transferred directly into a child's 529 college savings plan, planting a seed for future growth of their education.
Want to Learn More?
We're happy to give you a quick online demo, talk about trends we're seeing, and discuss how easy it is to implement LEAF at your convenience.
Have questions? Please contact LEAF at firstname.lastname@example.org today!