Platform Calgary Drives Recruitment & Retention with Student Loan Repayment Program

Recognizing the burden of debt and affordability issues, Platform Calgary was looking for an employee financial wellness solution tailored to a younger workforce:

• A unique benefit program that would attract new employees.

• As a non-profit, Platform Calgary needed an affordable solution that aligned with its budgetary constraints.

Platform Calgary saw the Student Loan Repayment Benefit from Marmot as an impactful incentive to recruit and retain younger employees. The benefit solution fit seamlessly into:

• Platform Calgary will match employees contributions up to 6% of their salary to use for student loan repayment.

• Platform’s benefit allows employees to direct 100% of their group retirement savings plan contributions to student loan repayment.

• A benefit that appeals to the 60% of new graduates who have student loans to repay.

The program has delivered substantially transformative benefits for both Platform Calgary and its employees:

For Employees

• Through the Marmot Student Loan Benefit program, employees saved an average of $15,300 on their student loans through reduced principal and interest payments.

• Significantly shorted loan repayment timelines, reducing them up to 93 months per employee.

• Allowed employees to pay off their student loans up to 72% improving their debt-to-income ratio and credit scores.

• Created immediate financial relief while maintaining long-term retirement planning options.

• Improved overall financial wellness and reduced financial stress.

For Platform Calgary

• Since offering the Student Loan Repayment Benefits Platform Calgary has been able to recruit more young professionals.

• Remarkable student loan repayment time and cost savings clearly enhance financial well-being and outcomes for employees.

• Improved ability to attract and retain younger employees in a competitive market.

• Achieved meaningful impact without increasing benefit costs.