Paidly Inc. is a financial technology company based in Rochester, New York, that provides a cloud-based platform for employers to offer student loan repayment as an employee benefit. The company aims to alleviate the financial stress of student debt for employees while helping employers improve talent recruitment, retention, and overall workforce productivity.
The company's primary offering is a cloud-based software platform that enables employers to create, manage, and administer student loan repayment assistance programs for their employees. The system is designed for simple administration and also supports contributions to 529 education savings plans as an additional benefit.
The platform helps solve the widespread problem of student loan debt, which causes significant financial stress for employees. For employers, it serves as a powerful tool for attracting and retaining talent; for employees, even a modest employer contribution, such as $50 per month, can reduce total interest paid by nearly $2,000 and shorten the loan payoff period by over two years.
For employers, the key pain points are high turnover costs, difficulty in recruiting top talent, and reduced productivity due to employee financial stress. For employees, the platform addresses the significant burden of student loan debt, which can delay major life milestones such as home purchases, family planning, and retirement savings.