News & Press Releases
Become an HR Hero without costing your company a dime
It’s no secret that college is expensive or that your employees with families are worried about paying for it. But more than 900 companies in California and beyond have discovered a way to make a big difference—with a program that can be worth thousands of dollars to their employees saving for a child’s higher education.
The program is ScholarShare 529 Workplace Savings. It is a direct deposit program, so all you have to do to participate is assign a payroll slot. There’s no reporting or contract requirements, it’s extremely easy to set up, and best of all—there is no cost to you.
Why is it worth thousands to my employees? ScholarShare 529 provides 100% tax-free growth. This can really add up over time. Employee monthly contributions can be as little as $25 or more than $1,000. All they have to do is use the funds for qualified educational expenses like tuition, room, board, or books at an accredited school anywhere in the U.S. or abroad.
How many and what sort of companies participate? More than 900 companies. It includes everyone from high-tech giants, global media companies and leading-edge hospitals, to small local businesses. Plus, state agencies, counties, cities and special districts also participate.
Will your employees really care? Yes—dramatically so. According to a study of California parents* conducted for ScholarShare 529:
- 88% say that helping pay for college is one of the most important things they could do for their child
- 72% say they are already saving all they can
- Yet nearly half say that they are worried their child will not be able to afford college, will not be able to afford the college of their choice, or will be overwhelmed with debt
How can I learn more? There is a webinar for HR/Benefits managers on May 8. Sign up today or contact a ScholarShare Workplace Savings representative at firstname.lastname@example.org or call 626.432.6300.
*ScholarShare529 study on Emotions of Saving for College, 2016.