Partnership Will Enhance Distribution of BenefitEd’s Student Loan Repayment Product
Lincoln, NE - Ameritas and Nelnet announced today a joint venture to own and expand
BenefitEd, a student loan repayment benefit company. BenefitEd, founded by the Nelnet Innovation Hub in 2016, helps employers offer student loan repayment as an employee benefit by directly contributing toward an employee's student loan balance.
The joint venture leverages Nelnet’s existing relationships with student loan lenders and decades of experience in payment processing, and Ameritas’ expertise in the distribution and management of employee benefits. Nelnet and Ameritas each own a 50 percent interest in BenefitEd.
“We look forward to working together to provide this important and highly sought after employee benefit,” said Karen Gustin, Ameritas group division executive vice president. “The combined experience of both companies creates a knowledgeable, trustworthy and strong partnership. That is an advantage for our customers in recruiting, engaging and retaining employees.”
BenefitEd enables companies to customize a student loan repayment benefit to fit the needs of their unique employee base, and in turn improve the recruitment and retention of talented employees. According to Experian credit bureau, more than 40 million people carry student loan debt after college. BenefitEd offers employers a solution to help ease that financial burden. More than 600 employees already receive loan repayment benefits through BenefitEd.
“The Ameritas name and reputation will bring increased value and visibility to BenefitEd,” said Scott Gubbels, Executive Director of Nelnet’s Innovation Hub. “We look forward to accelerating the success we’ve experienced thus far by making this student loan repayment benefit more widely available through Ameritas’ employer relationships.”
Nelnet’s role in the partnership will focus on the implementation of account management software, in addition to payment processing and loan services. Ameritas will market BenefitEd’s loan repayment product through existing distribution channels and broker and employer relationships.
Learn more about the program and its benefits by visiting YouBenefitEd.com.
Founded in 1887, Ameritas Life and its affiliated companies offer a wide range of insurance and financial products and services to individuals, families and businesses. These products and services include life insurance; annuities; individual disability income insurance; dental, vision and hearing care insurance; retirement plans; investments; mutual funds; asset management and public finance. Securities offered through affiliate Ameritas Investment Corp., member FINRA/SIPC. For more information, visit ameritas.com.
Nelnet (NYSE: NNI) is a diversified and innovative company focused on offering educational services, technology solutions, telecommunications, and asset management. Nelnet helps students and families plan and pay for their education and makes the administrative processes for schools more efficient with student loan servicing, tuition payment processing, school administration software, and college planning resources. As part of Nelnet’s commitment to corporate innovation and growth, the Nelnet Innovation Hub is responsible for vetting and launching new business ventures. Through its recently acquired subsidiary, Allo Communications, Nelnet offers fiber optic services directly to homes and businesses for ultra-fast internet and superior telephone and television services. The company also makes investments in real estate developments and new ventures. For more information, visit Nelnet.com.
About BenefitEd Founded in 2016, BenefitEd aims to help employers recruit, retain, and engage employees by offering them the benefit of aiding with their student loan repayment