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Peanut Butter's student loan assistance program has proven to be a valuable tool for individuals looking to tackle their loan debt and …
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What is Peanut Butter?
Peanut Butter is a student loan assistance and refinancing product that aims to help individuals manage and repay their student loans. According to the vendor, Peanut Butter is designed for professionals in various industries such as financial services, healthcare, professional services, education, and...
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Product Details
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- Tech Details
What is Peanut Butter?
Peanut Butter is a student loan assistance and refinancing product that aims to help individuals manage and repay their student loans. According to the vendor, Peanut Butter is designed for professionals in various industries such as financial services, healthcare, professional services, education, and technology. The product offers features such as:
Student Loan Repayment: Employers can contribute to their employees' student loans through a comprehensive repayment program. Employees can track contributions, view repayment scenarios, and receive support during enrollment.
Student Loan Resources: Peanut Butter provides a loan management dashboard for organizing loans and accessing up-to-date information. The platform offers curated advice and insights to implement money-saving tactics. Employees can also utilize the refinancing marketplace to explore different rates without a hard credit pull and access financial wellness tools.
Student Loan Refinancing: Peanut Butter assists employees in refinancing their student loans by connecting them with multiple lenders through their refinancing marketplace. This feature allows individuals to explore different rates and gain a better understanding of government programs and payment options.
Employer Control Panel: The user-friendly control panel allows employers to manage the program and access on-demand reporting. It also provides a communications toolkit for effective program announcements.
Benchmarks: Peanut Butter provides market insights and benchmarks to help employers design their student loan assistance plans.
HR Support: Employers receive support from a dedicated Customer Success Manager throughout the implementation and utilization of the program.
Comms Toolkit: Peanut Butter offers a variety of templates to assist employers in announcing and promoting their student loan assistance program.
Loan Management Dashboard: Employees can organize and access up-to-date information about their loans through the loan management dashboard.
Curated Advice + Insights: Peanut Butter provides curated advice and insights to help employees implement money-saving tactics.
Debt Counseling Options: A curated portal of free services and preferred rates from paid advisors is available to employees seeking debt counseling options.
Webinars are available for employers and brokers to learn more about attracting and retaining college-educated talent with student loan assistance.
Peanut Butter Technical Details
| Deployment Types | Software as a Service (SaaS), Cloud, or Web-Based |
|---|---|
| Operating Systems | Web-Based |
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TrustRadius Insights are summaries of user sentiment data from TrustRadius reviews and, when necessary, 3rd-party data sources. Have feedback on this content? Let us know!
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Peanut Butter's student loan assistance program has proven to be a valuable tool for individuals looking to tackle their loan debt and improve their financial well-being. Users have been able to decrease their loan balance and gain clarity on their repayment progress through the platform. By providing excellent service and education about loans, Peanut Butter helps organizations appeal to younger employees who are dealing with the burden of student loan debt. The platform makes it easy for employers to provide certainty in the loan repayment process, allowing employees to connect their work payroll and student loan payments seamlessly. This simplifies the process and allows users to set it and forget it, reducing financial stress. Users appreciate the value add of Peanut Butter as it allows them to worry less about their loans and focus on other financial goals. By automating tracking and providing transparency in loan payments, Peanut Butter offers an equitable solution for users. Overall, the program has successfully helped users pay off their loans faster, reduce financial stress, and feel supported by their employers. It has become a highly regarded non-traditional company benefit that attracts and retains top talent while increasing employee loyalty and motivation.
Intuitive and Friendly User Interface: Reviewers have consistently praised Peanut Butter for its intuitive and friendly user interface, making it easy to navigate and find all the necessary information. Many users have found the simplicity of the platform highly appreciated, allowing them to easily understand and utilize its features.
Top-notch Support: Users have expressed their satisfaction with the top-notch support provided by Peanut Butter's team. The onboarding experience was described as relatively easy, with reviewers feeling supported throughout the implementation process. The promptness, professionalism, and helpfulness of Peanut Butter's support team were highly praised by multiple users.
Streamlined Integration with HRIS Systems: Peanut Butter's integration with HRIS systems has received high praise from reviewers. Not only did users appreciate the ease of setup but also how it resulted in automated invitations being sent to new hires. This streamlined process for posting extra payments to loans and tracking progress has been enjoyed by many users.
Overwhelming Volume of Introductory Emails: Some users have found the volume of introductory emails from Peanut Butter to be overwhelming, which can lead to a cluttered inbox and difficulty in managing other important communications.
Lack of Communication and Updates: Several users mentioned a lack of communication once everything got started with Peanut Butter. They expressed that there was very little communication about next steps, such as when their loan was paid off or any updates regarding their account status. This lack of proactive communication left some users feeling unsure and disconnected from the process.
Limited International Loan Support: A few users expressed frustration with the limited support for international loans provided by Peanut Butter. They mentioned that the program does not work for international loans, making it less usable for employees who went to school in another country. This limitation hinders the ability of these users to fully benefit from Peanut Butter's services.
Users commonly recommend Peanut Butter for the following reasons: First, they find Peanut Butter easy to use and appreciate its simplicity. They suggest signing up for Peanut Butter as it offers a user-friendly experience. Second, users highly recommend using Peanut Butter as a tool to attract younger generations and reduce the burden of student debt. They believe it is a great program that can set a company apart from others and be a selling point for potential new hires. It is also seen as an investment in employees, providing better attention and reducing turnover rates. Finally, users praise Peanut Butter for its outstanding customer service and white glove support. They believe it is a great company with a commendable purpose, making it a valuable addition to the suite of employee benefit offerings. These recommendations highlight the ease of administration, affordability, and positive impact on attracting and retaining talent that Peanut Butter provides to companies.