FRC - Gradifi and the Massachusetts Educational Financing Authority Team Up to Offer Student Loan Refinancing Options

Gradifi, a leading provider of student loan and college savings employee benefits, today expanded its student loan refinancing marketplace with the addition of Massachusetts Educational Financing Authority (MEFA), a not-for-profit organization with a mission to help students and families access and afford higher education and reach financial goals.

MEFA is now one of four lenders within the Gradifi platform that can refinance student loans for borrowers. The other existing lenders are Earnest, LendKey, and First Republic Bank (NYSE:FRC). First Republic is the parent company of Gradifi.

Gradifi CEO David Chang, said: “MEFA is a mission-driven, high-quality lender that works to help individuals and families afford college and reduce the burden of student loan debt. MEFA shares Gradifi’s commitment to supporting people who invest in education to better themselves and their communities.”

MEFA Executive Director Thomas M. Graf, said: “Gradifi and MEFA have a shared mission of helping families manage their finances to achieve financial goals. We’re pleased to partner with Gradifi to provide a solution for student loan borrowers seeking a better way to manage their monthly loan payments.”

Founded over 35 years ago, MEFA is a self-funded public entity that provides new student loans and refinances existing student loans for individuals and families across the United States. MEFA’s financial products also include two college savings programs, the U.Fund^® 529 College Investing Plan and the U.Plan^® Prepaid Tuition Program, as well as the Attainable Savings Plan?, created to help families save for the expenses of eligible individuals with disabilities. MEFA also offers unmatched expertise, comprehensive guidance, and a full range of educational tools and services related to every step within the college planning process.

Gradifi Refi is one of three employee benefit programs that promotes financial wellness. Gradifi’s SLP (Student Loan Paydown) Plan^® allows employers to make a regular contribution to pay down an employee’s student loan debt. Gradifi’s College SaveUp Plan allows employers to make contributions to employees’ 529 college savings plans to help pay for college. Gradifi supports more than 750 employers across the U.S.

To learn more about Gradifi’s solutions, please email info@gradifi.com or call (844) GRADIFI (472-3434).

About MEFA

MEFA is a not-for-profit, self-financing public entity established in 1982. MEFA’s mission since its founding has been to help students and families access and afford higher education and reach financial goals through education programs, tax-advantaged savings plans, low-cost loans, and expert guidance. All of MEFA’s work aligns with the ever-present goal to support the independence, growth, and success of students and families. Visit mefa.org to learn more or follow MEFA on Twitter @mefatweets and on Facebook at mefaMA.

About Gradifi

Gradifi is an innovator in employee benefits for U.S. employers. Gradifi’s mission is to help employers build loyalty with their workforce by providing employee benefits that positively impact their employees’ financial well-being. Gradifi offers an all-in-one, cloud-based platform that allows employers to offer student loan refinancing opportunities, and employer-sponsored contributions to student loans and 529 college savings plan accounts. A unit of First Republic (NYSE:FRC), Gradifi works with employers of all sizes across the U.S. gradifi.com.

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