Reducing College Costs: IT Firm Adds Benefit to Reduce Financial Burden
Providing more than just a job benefit. We wanted to provide a thank you for studying, for learning, and for working so hard.
“I knew it was an issue we’d have to deal with eventually,” said Maxine. “Then I came to work at Trinity Technology Group and one of the company’s employee benefits inspired me to start saving.”
TrinityTG, a Sacramento-based IT consulting firm, is offering an employee benefit to help pay back student loans or save for college. The program is administered by Gradifi.
Based in Boston, Gradifi provides innovative financial benefits that empower employers to help their employees work toward brighter financial futures with contributions to their student loans, options to refinance their loans, and help to create nest eggs for their children’s educational futures.
“We were looking for an employee benefit that would differentiate us from the competition and help ease the stress of college finances,” said Kim Clark, human resources director for TrinityTG. “The IT industry is the most competitive job market in the country right now, and we wanted something to offer technical professionals.”
According to the brokerage firm LendingTree, Inc., among the Class of 2018, 69% of college students who took out student loans graduated with an average debt of $29,800. Meanwhile, 14% of their parents took out an average of $35,600 in federal Parent PLUS loans.
“Many of the folks who work for us right now are saddled with student loans,” said Clark. “We want to both support them and to attract prospective employees who are either contributing to a 529 education savings plan or are trying to pay down their own student loan.”
Heather Seiden is such a beneficiary after attending graduate studies. TrinityTG utilizes Gradifi as a financial conduit to assist her.
“Offering me a resource like Gradifi is another reason I stay with TrinityTG,” said Heather. “And the company will continue contributing to my account for as long as I’m employed here.”
Gradifi also offers the employees the choice to take TrinityTG’s monthly stipend and apply it to either their 529 plan or to their student loan.
“You could say ‘for three months I’m going to contribute to my student loan, and then for five months I’m going to contribute toward my child’s college savings plan,’” said Clark. “The employee can decide where they want the money to go.”
TrinityTG employee Tran Quoc has a daughter who’s about to graduate from college. But she may take a year off before pursuing her post graduate degree. Tran wants to be prepared for the ensuing expense and is taking advantage of the Gradifi program now.
“We already know obtaining her Master’s degree will cost a sizable sum,” said Tran. “Plus, we can add funds to my nephew’s savings plan as well. Every little bit helps,
which is why the Gradifi program is a welcome benefit.”
“TrinityTG is the only employer in the Sacramento Valley currently offering this benefit,” said Clark. “I believe it’s a testament to our leadership that we’re doing
everything we can to hire quality people and then retain them.”
About Trinity Technology Group (TrinityTG): TrinityTG is a California-based IT consulting firm delivering end-to-end solutions that solve real business problems for Justice & Public Safety, Health & Human Services, Natural Resources & Energy, and Government Operations. TrinityTG is an employee-centric firm with consultants who are full-time, ongoing employees that are fully committed to the long-term success of our clients.
To learn more about the products and services offered by TrinityTG, please visit the company’s website at www.trinitytg.com.