The PURE Group of Insurance Companies Partners with CommonBond to Offer Student Loan Assistance to Employees
The company will contribute toward alleviating the cost of student loans and aid with refinancing strategies for its employees.
WHITE PLAINS, N.Y. — April 2, 2018 —The PURE Group of Insurance Companies (PURE Group), which includes Privilege Underwriters, Inc. (PUI), the holding company of the PURE Group, has partnered with financial technology company CommonBond to add a student loan assistance program to its benefits package. The PURE Group joins more than 200 partners now offering CommonBond for Business™ student loan benefits to their employees.
Through the program, employees of the PURE Group are eligible to receive $100 per month toward student debt repayment.1 Each individual will also have access to the CommonBond for Business repayment evaluation platform, which includes an overview of income-based and loan forgiveness options, as well as customized recommendations for consolidating and refinancing private and federal loans. Additionally, employees who are parents can utilize solutions offered by CommonBond to help pay for their child’s undergraduate or graduate education.
The PURE Group is pleased to add this benefit to a growing list of attractive offerings, such as flexible time off, which includes designated paid time off to volunteer; tuition reimbursements for career-related certifications and passion-related courses; and fitness discounts.
“With so many people entering the workforce with student debt, we are happy to reinforce our commitment to offer competitive benefits through this new partnership with CommonBond,” said Katherine Richardson, Chief Human Resources Officer at the PURE Group of Insurance Companies. “This will reduce that burden for them and enable them to focus on building the next chapters of their lives.”
“With millennials now comprising one-third of the American workforce and student loan debt at an all-time high, the need for student loan assistance in the workplace is more prevalent than ever,” said Leigh Gross, Vice President, Business Development at CommonBond. “Our partnership with the PURE Group will help their employees discover the ideal repayment solutions for their student loan debt, reducing its burden and ultimately providing a pathway to financial wellness.”
1 The PURE Group’s contribution to employees is made on top of their existing monthly student loan payments; it does not lower the employee’s current monthly payment.
Privilege Underwriters Reciprocal Exchange (PURE) is a policyholder-owned insurer dedicated to creating an exceptional experience for responsible high net worth individuals and families. PURE provides customizable coverage for high-value homes, automobiles, jewelry, art, personal liability, watercraft, flood, fraud and cyber fraud to more than 70,000 responsible high net worth families throughout the U.S. Inspired by some of the finest policyholder-owned companies, PURE emphasizes alignment of interests and transparency. PURE's low cost of capital, careful member selection and proactive risk management all contribute to highly competitive rates. In return for a fee, PURE Risk Management, LLC acts as Attorney-in-Fact for PURE. For more information or to find a local broker, visit pureinsurance.com. You can follow PURE on Facebook, Twitter, LinkedIn and Instagram.
CommonBond is a financial technology company on a mission to give students and graduates more transparent, simple and affordable ways to pay for higher education. The company offers refinance loans to college graduates, new loans to current students and a suite of student loan repayment benefits to employees through its CommonBond for Business™ program. By designing a better student loan experience that combines advanced technology with competitive rates and award-winning customer service, CommonBond has funded over $1.5 billion in loans to date, for its tens of thousands of members. CommonBond is also the first and only finance company with a "1-for-1" social mission: for every loan it funds, CommonBond also funds the education of a child in need through its partnership with Pencils of Promise. For more information, visit www.commonbond.co.