Student Loan Repayment Program
If you have outstanding student loan debt, it can prevent you from reaching important financial goals. In addition, the debt often continues to linger much longer than anticipated. Texas Health Resources is pleased to provide a $50 a month contribution to help eligible employees pay off their student loans faster so you can reach your financial goals and help you do your life’s best work at Texas Health.
This benefit is available through SoFi.
Benefits-eligible employees may enroll at any time for this benefit and use the many financial resources available through SoFi. To be eligible for the monthly payment, you must in a benefits-eligible position and actively at work (i.e. you cannot be on a leave of absence) at the time of approval which occurs around the 20th of each month.
The student loan must be for your personal education (cannot be a loan for a dependent’s education), issued at a U.S. based financial institution, and the loan must be in good-standing. Loans currently eligible for federal deferment are still eligible for this monthly benefit.
You can access and use the other SoFi financial resources at no cost without participating in the student loan repayment program.
How to Participate
- Go to SoFi.com/TexasHealth to register and provide your student loan information.
- You should continue to make your monthly payment each month. The $50 received by Texas Health will be made in addition to your monthly payment.
Check out this 60 second video to walk you through the enrollment process.
The first payment you receive will be applied to the next month if you register by the 10th of the month. Example: to receive the payment for March, you would need to register and enter your loan information by the 10th of February.
Please be aware that the Texas Health contribution can take up to 5-7 days to be received by your loan provider. All contributions will go out on or about the first of the month. Also, this is taxable benefit so you will see those taxes taken on the second paycheck of the month.
Other Benefits through SoFi
Through the SoFi Dashboard, you can find many free resources to help you reach your financial goals that include:
Credit score monitoring
Refinance existing student loans
Access to certified financial planners
Debt navigation tool to help you assess each student loan and identify best next steps
Access to Edmit – a site to help you navigate the college selection process
Various Financial Education, Tools, and Calculators
For questions and support, call SoFi’s customer service team at 1-877-MyTHRLink (877-698-4754), prompt 5, press 3 or email firstname.lastname@example.org.
You can also contact the Benefits Support team by phone at 1-877-MyTHRLink (877-698-4754), prompt 9 or by email at THRBenefitsSupport@texashealth.org.
For details on termination of this benefit and/or repayment if you leave Texas Health, click here.