Industry
Construction
The Client
Flatiron collaborates with public and private clients to deliver heavy civil infrastructure — including highways and bridges, aviation, rail and transit systems, dams and reservoirs, water and wastewater treatment facilities, broadband infrastructure, underground projects, as well as resiliency and flood protection.
Implementation
Flatiron makes it a priority to offer comprehensive, highly competitive, cost favourable benefits, adding Marmot’s Student Loan Repayment Benefit to help employees with financial wellness to heighten productivity.
"Flatiron’s program is helping pay off my school debt by making a $100 payment straight to the principal. This allows my overall debt to be paid off sooner than if I was just paying the minimum amount each month. This extra payment also allows for me to not stress if I am short on funds to make a full payment. It has for sure eased my mind and stress on my finances."
-Kellie Fernandez
Senior Accounts Payable Specialist
Flatiron
"The student loan forgiveness benefit helps keep my interest payments low, so my money is paying off principal faster."
-Levi Galeski
Project Scheduler
Flatiron
Flatiron Builds Financial Freedom: Marmot's Student Loan Benefits Drive Employee Success in Canada
Challenges
Flatiron is headquartered in the United States and first offered student loan benefits to its American workforce. Due in part to the success of the benefit with U.S. employees, Flatiron wanted to offer a similar benefit for its Canadian workforce.
Solution
Implementing Marmot's Student Loan Repayment Benefit strategically aligns with Flatiron’s company motto, “At Flatiron, our employees are our greatest asset.”
The benefit includes:
Providing Flatiron’s Canadian employees with a fixed monthly amount of $100, applied directly from payroll to their federal or provincial student loans.
Offering continuous payments until the student loan balance reaches $200.
Digital reporting solution that tracks student loan balances and ensures compliance with Flatiron's $10,000 lifetime maximum, eliminating additional plan management or administration.
Flexible registration throughout the year.
Results
The program has delivered substantial benefits for both Flatiron and its employees:
For Employees
Flatiron is improving the financial health and well-being of employees in Canada with regular student loan payments that save employees time and money repaying educational debt.
With the Marmot Student Loan Benefit program, employees saved an average of more than $4,600 on their student loans through reduced principal and interest payments.
Significantly shorted loan repayment timelines, cutting them up to 23 months per employee.
Allowed employees to pay off their student loans up to 36% improving their debt-to-income ratio and credit scores.
Projected Savings | $4,600 |
Average Repayment Reduction | 23 months |
Repayment Reduction Percentage | 36% |
For Flatiron
Flatiron now offers student loan repayment benefits to all employees across North America.
Provides a unique advantage for recruiting younger employees.
Demonstrated commitment to employee financial wellness through innovative benefits.
Created a more engaged, focused, and happy workforce with reduced financial stress.
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