Asante offers what may be the best gift of all — student loan relief
Asante employees can go far with the help of education. Some have completed postgraduate degrees, which helped them move from staff member to executive. Others use courses for professional development.
To help promote education (and reduce some of the costs to employees) Asante will introduce a student loan repayment program on Jan. 1.
Like the tuition reimbursement program, which reimburses employees for current eligible tuition and fees, the loan repayment program reimburses eligible employees for a portion of their federal student loans, tax-free.
To qualify, the employee must have worked at Asante for at least six months and hold a full- or part-time position at the time they request reimbursement. The maximum funded is $300 per quarter, with a limit of $1,200 per year. The lifetime maximum per employee is $24,000.
The program is part of Asante’s ambitious Employee Retention initiative, which offers a host of incentives to ensure employees remain with the organization.
“Our employees are our most valued asset,” said Alicia Lorenz, director of HR Administration and Employee Relations. “When they grow professionally through education, our organization, patients and the community also benefit.”
Reimbursements will be granted quarterly and be put toward U.S. Department of Education student loan payments and fees within the year the request is made. In other words, benefits payable in 2023 are for student loan payments made that same year.
Due dates for reimbursement will be as follows:
|Loan payment period
|Reimbursement request due date
|March 10, 2023
|June 10, 2023
|Sept. 10, 2023
|Dec. 10, 2023
Note that any benefits paid under this program will reduce the maximum amount an employee can receive under the tuition reimbursement program, which pays out $5,250 for full-time employees and $2,625 for part-time employees each year.
Employees will submit the requests for reimbursement through the Student Loan Payment Reimbursement Request form (they must be logged into the Asante network to access) or on myHR. All reimbursement funds will be directly deposited with the employee’s regular biweekly payroll.
If you have any other benefits questions, email Asante Benefits or call (541) 789-4551 or (800) 468-6913. You can also submit a case in the Ask HR section of myHR.
If you have a question, please contact the author or relevant department directly.