Employers who provide Betterment's 401(k) plans will now have the option to add new student loan or 529 college savings features.
The first is a student loan feature that will let workers access information on the various debts they may have through different providers in one location. Additionally, it will help them evaluate which balances to pay down first, see repayment projections and track their participation in student loan matching programs, if their employers offer them.
"People are focused on paying off loans and feel as if they can't take full advantage of other benefits that their employers are offering," she said. Separately, Betterment is adding a 529 feature that will allow workers to see how investing tax-advantaged money toward these plans will shape up over time and in comparison with their other goals.
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