Have you heard about Freddie Mac's Student Loan Repayment Program? It's a great way for employees to ease the stress of monthly loan payments and make their life just a little bit easier. Eligible employees receive contributions totaling up to $9,000 over a five-year period to help them pay down their student loans.
"We know this is a differentiator benefit for Freddie Mac and we hear from new employees that it was a contributing factor in coming to work here," said Mary Ann Pence, director of benefits at Freddie Mac.
Over 800 Freddie Mac employees are taking advantage of the program. Here's how it's helped:
Sarah, Freddie Mac Multifamily
"Getting my MBA has been in the back of my mind for years, but I haven't been able to give that idea any serious consideration since I already had enough student loan debt looming over my head. I'm so glad there isn't an age limit because with this new benefit in my back pocket combined with the education assistance program, I can actually start taking some of those classes sooner than expected and even roll those loans into this program if I want to!"
"There was a time where deferments and forbearances were simply a fact of life, and that drastically extended the life of my loans. With my daughter's transition this year from high school to college, this program helps lift some of the weight off my family's budget. Freddie Mac really is the gold standard when it comes to its benefits package."
Jayson, Single-Family Business
"I've only been in this program for a year and I've already paid off one of my student loans. Having this burden lifted allows me to focus on paying off other debts that have higher interest rates, and that's an amazing feeling! Student loans are different from any other kind of debt. The fact that they cared enough about our daily challenges to help us tackle them head on is just one more example of why I like working here."
Wondering if Your Loans Would Qualify?
The following undergraduate, graduate and certificate program loans are all eligible:
- GraduatePLUS loans
- Co-signed loans
- Loans used towards an incomplete educational degree
- Loans consolidated with a spouse
- Loans that are eligible but are combined with ineligible loans within the same account
- Educational lines of credit
- Loans in default, collections, forbearance, or grace period
- Loans that have already been (or intend to be) reimbursed through a separate tuition reimbursement program