Education
Accounts
Stand out from the crowd of employers with this competitive, modern education reimbursement benefit.
Complete plan design customization
Gain and retain top talent
Improve employee engagement and productivity
Education Accounts by BASIC allows you to offer sought-after benefits to attract and retain the top talent. Stand out as a progressive employer as benefit preferences of young professionals switch from retirement to paying off student loans.
Employers offering this tax-advantaged* benefit can enhance the talent pool from within their organization or use it as a recruitment tool. Our Tuition Account offers complete design flexibility. Reimbursement eligibility options include a pre-determined expense cap, employment tenure, program study parameters, GPA requirements, and commitment of employment.
Employers define the parameters and BASIC handles the rest. Participants’ reimbursements are added to their MyCash account linked to their BASIC Card – faster than a check or direct deposit. Learn more about the BASIC Card & MyCash!
* Refer to www.basiconline.com/regulations to view annual tax-free reimbursement maximum
While not a tax-advantaged plan, eight in ten workers with student loans say they would value working for a company that helps with student loan debt. Employers that offer this highly coveted benefit can attract the highest quality candidates.
Choose to reimburse a predetermined cap or percentage of an employee’s monthly loan payment. Plans can include a commitment of employment following reimbursement or increased reimbursement amount over time to encourage long-term employment and loyalty.
BASIC handles all the verification and reimbursements.