Student Loan Repayment Benefits | Tax-Free Employee Benefits

Compliance Engine

Complex tax law.
Simple software.

Your CFO fears audits. Your HR team fears paperwork. SideUp eliminates both with a fully automated compliance engine.

Loan Verified

Sent to

Loan Servicer

See How SideUp Works in 4 Easy Steps

01.

Choose your benefits

Decide which benefits you want to offer and who they apply to.

02.

Implement your policy

Set your budget, eligibility rules, and spending limits. Our platform handles the compliance and guardrails automatically.

03.

Connect to payroll

Seamlessly integrate with your existing payroll provider. We handle the tax implications and reporting for you.

04.

Join the SideUp platform

Invite your team. They get their cards, you get the credit for being an amazing employer. Everyone wins.

REAL IMPACT, MEASURED IN RESULTS

The numbers don't lie

Based on SideUp’s internal research comparing clients with vs. without flexible stipends. When you give employees choice, the numbers speak for themselves.

+35

eNPS Points

Clients using SideUp consistently score +35 points higher than those relying on standard perks.

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+ 23%

Profit

Employees who are happy with their benefits are more productive and can increase a company’s revenue by up to 23%.

10x

ROI

For every $1 spent on SideUp stipends, companies save $10 in retention costs and productivity gains.

The SideUp Marketplace

Every dollar goes further. And stays local.

Our marketplace brings your team closer to the independent cafés, gyms, shops and services in their own neighborhood. When they spend their SideUp budget there, they unlock exclusive discounts and freebies, so the same benefit buys more.

✓

Exclusive discounts for SideUp members

✓

Freebies and extras from local partners

✓

Your benefits budget, backing local businesses

List your business Nominate a local favorite

A Saturday on Main Street

The Corner Café

$10.95

Marketplace discount

−$1.65

Northside Yoga Studio

$15.00

Free mat rental

Freebie

Saved this month

$11.60

Illustrative example

What is a student loan repayment benefit?

It's a benefit where employers contribute directly toward an employee's student loan balance or tuition costs, on top of regular salary.

How much can employers contribute tax-free?

Under IRS Section 127, US employers can contribute up to $5,250 per employee per year toward student loans or tuition, tax-free for both the employer and the employee.

Is student loan assistance taxable to the employee?

No, up to the $5,250 annual IRS limit, contributions are excluded from the employee's taxable income when structured under a qualifying Section 127 plan.

How does SideUp pay down an employee's student loan?

Payments go directly to the employee's loan servicer or are applied through the SideUp card, so employees don't have to submit reimbursement claims.

Can all employees use this benefit, or only recent graduates?

Any employee with outstanding student loans or eligible tuition expenses can typically use it. It's not limited to recent graduates.

Does offering student loan benefits actually help with retention?

Yes. 91% of employees with student debt report feeling anxious about it, and 77% say they'd choose an employer that helps pay it down, which directly affects both hiring and retention.

Pay down their debt. Build up their loyalty.

The invisible weight on your best people

Complex tax law.
Simple software.

1. Verify

2. Pay

3. Document