REDEFINING THE TALENT PATHWAY

Paydown

Get ahead of the competition and show you care about your employees financial wellbeing.

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Looking for grads, interns, early career, part-time or casual workers?

Paydown

With UK students currently graduating with an average of £50,000 debt and interest rates now hitting 6% for student loans, there is a better opportunity now than ever for us, as employers, to alleviate the educational debt burden of this and future generations.

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Introducing the Paydown product from EdAid.

Through Paydown, we enable employers to accelerate student debt repayments for their employees through a nominated monthly top-up.

We are the only company working in conjunction with the SLC, enabling us to manage all of the heavy administrative, regulatory and technical aspects currently involved in overpayments.

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What’s in it for you?

Offering this innovative, unique solution to a widespread problem allows you to position yourself as an ethical, socially responsible employer.

Include it in your employee benefit programme to improve financial well-being of your recent grads & future talent and you will see increased results in both attraction and retention of the best talent.

The amount paid per employee each month is up to you. Use the calculator below to discover the impact.

Current SLC repayment projection
SLC repayment projection with employer contribution


How we calculated this?

Plan 1 (Pre-2012)

The repayment threshold is £17,775. The interest charged is 1.25% AER. We have assumed 4% annual income growth.

Plan 2 (Post-2012)

The repayment threshold is £21,000. During University all students are charged interest of 6.1% AER. Post-graduation the interest charges range between RPI (3.1% AER) & RPI + 3% (6.1% AER). We have assumed 4% annual income growth.

We only need a few details...

£
£
Monthly employer contribution:
£

A monthly Employer contribution of £200 would result in total contributions towards your employees debt of £400.

Saving your employees £2,400 in repayments (including £2,400 in interest charges). It would reduce the time they spend in debt by 2 years.


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