Page 42 - 2022 SoFi - August Open Enrollment

STUDENT LOAN REPAYMENT TUITION REIMBURSEMENT

PROGRAM PROGRAM
SoFi is invested in the financial wellness of its SoFi will cover tuition costs for approved programs from
employees. SoFi offers an industry leading benefit to an accredited institution, pre-tax up to $5,250 per year
help regular, full-time employees who are regularly with a lifetime maximum of $25,000. This program is
scheduled at least 30 hours per week with their student available to all regular, full and part time employees.
loan debt. $5,250 is the pre-tax maximum that can be Employees are eligible for this benefit after 6 months of
paid out in one calendar year. This pre-tax maximum employment. $5,250 is the maximum that can be paid
includes payments from both the Student Loan out in one calendar year and is in combination with the
Repayment Program and the Tuition Reimbursement Student Loan Repayment Program due to CARES Act.
Program. The loan must be in the employee’s name as It is the responsibility of the employee to submit their
this benefit does not cover loans for family members. request for reimbursement by December 1st in a given

This benefit is considered subject to applicable taxes calendar year to ensure they are reimbursed for that
after the $5,250 pre-tax maximum has been met in year. SoFi’s reimbursement policy is based on paid dates
combination with the Tuition Reimbursement Program. of reimbursement, and not the dates of the course itself.
You will receive an enrollment email approximately For more information, please visit the
at the end of the week in which you become eligible. Workday Benefits Mall or contact the People Team
Please use a personal email address to enroll. at benefits@sofi.org.
Employees are not eligible to receive any student loan
repayment benefits for any months worked prior to
enrollment. Employees should enroll timely in order
to receive the maximum benefit. The student loan
repayment program will cease as of the employee’s
termination date. SoFi will not contribute towards the
employee’s student loan repayment program during a
leave of absence.

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