Coupa Software Partners with Tuition.io to Help Employees Conquer Student Debt
Student Loan Repayment Benefit Now Available to U.S. Employees
SAN MATEO, CA – February 6, 2018 – Coupa Software (NASDAQ:COUP), a leader in business spend management (BSM), announced today the rollout of its student loan repayment assistance program, a new employee benefit to help workers pay off their burdensome student loans - faster. The company is partnering with Tuition.io, the leading platform for employee student loan contributions, to administer the program.
As part of the benefit, participating Coupa employees will receive monthly contributions to help pay down the principal of their student loans. This benefit extends to Parent PLUS loans, which are loans parents take out to help their children finance college. It also applies to the student loans of employees’ spouses and domestic partners. The program is available starting today for full-time employees across the U.S.
“With more than 44 million Americans weighed down by student loan debt, we recognize the importance of offering a benefit that helps our employees overcome this burden and start building toward their future sooner rather than later,” said Ray Martinelli, executive vice president of people at Coupa. “Tuition.io’s platform allows us to offer the most seamless and integrated approach for our employees to not only tackle their own debt but that of their extended families as well. It reinforces our commitment to our employees’ success.
Recent survey results show 86 percent of Americans say they would commit to working for an employer for five years if the company helped pay back their student loan. Coupa, which was certified in 2017 as a “Great Place to Work” by the Great Place to Work® organization, hopes to attract and retain the best talent in the market. Ninety-two percent of employees say they are proud to work for Coupa.
“Coupa has a long history of championing a people-centered corporate culture, and this is another way to continue their mission of offering best-in-class employee benefits,” said Scott Thompson, CEO of Tuition.io. “With the student debt crisis continuing to escalate, it is not a matter of if, but when companies will do their share to find solutions. We are excited to work with Coupa as they lead the way.”
About Coupa Software
Coupa Software (NASDAQ:COUP) is the cloud platform for business spend management (BSM). We deliver “Value as a Service” by helping our customers maximize their spend under management, achieve significant cost savings and drive profitability. Coupa provides a unified, cloud-based spend management platform that connects hundreds of organizations representing the Americas, EMEA, and APAC with millions of suppliers globally. The Coupa platform provides greater visibility into and control over how companies spend money. Customers – small, medium and large – have used the Coupa platform to bring billions of dollars in cumulative spend under management. Learn more at www.coupa.com. Read more on the Coupa Blog or follow @Coupa on Twitter.
Tuition.io is the nation’s leading employee benefit platform empowering employers to better attract, retain and engage their next generation of talent who are saddled with stifling student debt, by helping their employees reduce and better manage their student loan burden. Tuition.io works with companies of all sizes, from Fortune 500 companies such as Live Nation, Fidelity Investments and Staples, to startups including ChowNow and Chegg, as well as public entities such as the City of Memphis. Tuition.io is on a mission to provide an impactful solution for employers and employees across the country. For more information, visit www.tuition.io or follow us at @Tuitionio.