Summer, a leading provider of student loan assistance programs for employers, has recently secured $9 million in funding to expand its services and reach more companies looking to support their employees with student loan debt.
The company, founded in 2013, has quickly become a trusted partner for businesses looking to attract and retain top talent by offering student loan repayment benefits. With student loan debt reaching record levels in the United States, many employers are recognizing the importance of providing this type of assistance to their employees.
Summer’s program works by allowing employers to contribute directly to their employees’ student loan payments, helping them pay off their debt faster and ultimately saving them money in interest payments. This benefit not only helps employees financially, but also boosts morale and loyalty within the company.
The $9 million in funding will allow Summer to expand its reach and offer its services to even more companies across the country. This is great news for both employers and employees, as it means more businesses will have access to this valuable benefit and more workers will be able to receive help with their student loan debt.
In a statement, Summer CEO Will Sealy expressed his excitement about the funding, saying, “We are thrilled to have the support of our investors as we work to expand our services and help more companies provide student loan assistance to their employees. Student loan debt is a major issue facing millions of Americans, and we are proud to be part of the solution.”
Overall, the expansion of Summer’s student loan assistance program is a positive development for both employers and employees. By offering this valuable benefit, companies can attract and retain top talent, while employees can receive much-needed help with their student loan debt. With the additional funding in place, Summer is well-positioned to continue making a positive impact in the lives of workers across the country.