First Republic Bank (NYSE:FRC), today announced it has acquired Gradifi Inc., a Boston-based student loan repayment technology platform to assist the nation's 44 million student loan borrowers.
Gradifi pioneered the SLP PlanTM (Student Loan Paydown), a technology and service platform used by employers to make direct contributions to employees’ student loans, reducing their overall repayment time and lowering the total cost of the loan. This employee benefit is becoming increasingly popular among employers to help attract and retain key talent, particularly Millennials who are now the largest generation in the workforce and are uniquely burdened by student debt. Gradifi operates a very user-friendly and secure online platform to handle such benefit programs.
Gradifi serves many employer clients from small businesses to PricewaterhouseCoopers, Natixis Global Asset Management, and Penguin Random House... READ MORE