University of Massachusetts Amherst Partners with FutureFuel.io to Support Financial Wellness for Alumni
AMHERST, Mass. – The University of Massachusetts Amherst and its Alumni Association have announced a new partnership with FutureFuel.io, a platform that empowers individuals to reduce student debt through its programmatic approach, offering alumni a personalized platform to pay down their student loans efficiently and improve the overall financial health and wellness of the UMass community. FutureFuel.io’s holistic student debt financial health platform enables small actions that make a big impact and will be available to the entire UMass Amherst alumni network of more than 280,000.
Through this new partnership, the alumni population of UMass will have access to several digital resources across tools native to FutureFuel.io’s platform:
● Reassess: Explore federal programs that can save time and money
● Round Up: Shave years off of loans with spare change from everyday purchases
● Giveback: Earn up to 30% cash back by shopping with 450-plus brands
● Refinance: Compare prequalified rates without impacting credit scores
● Roll Up and Read: Automatically manage student debt all in one place, and learn the financial literacy basics
Laurel Taylor, founder and CEO of FutureFuel.io, and Marty Meehan, president of the University of Massachusetts, previously joined forces in Washington, D.C. in front of the Senate’s Ways and Means Committee, advocating for the Employer Participation in Repayment Act, which allows employers to contribute toward paying down their employees’ student debt, tax free up to $5,250 per year. This provision was included in the CARES Act in March and is currently scheduled to sunset at the end of 2020.
“For those who are early in their careers, we find our aspiring youth seeking opportunities in one of the toughest job markets in the history of our country. To help ease the financial burden for countless Americans, our mission is to equip them with the digital tools and resources necessary to gain control over student debt, for the near and long term,” said Taylor. “It is a privilege to join forces with President Meehan and the University of Massachusetts, as President Meehan continues to lead with a deep understanding of the communities he serves, delivering innovative digital-first solutions to address some of today’s toughest challenges.”
"We are engaged in many ways to support our alumni, and even more so in challenging times like these,” said UMass Amherst Chancellor Kumble R. Subbaswamy. “FutureFuel.io provides an innovative and effective approach to paying down student debt, which we hope will help our recent graduates and young alumni build a stronger financial footing."
About UMass Amherst:
UMass Amherst is the flagship public university in the Commonwealth of Massachusetts, making a profound, transformative impact to the common good. Founded in 1863, it is the largest public research university in New England, distinguished by the excellence and breadth of its academic, research and community outreach programs.
About FutureFuel.io
FutureFuel.io is a platform that supports America’s 45 million borrowers in paying off their student debt as quickly and efficiently as possible. On average, FutureFuel.io saves users $15,000 and half a decade off of their student loan payments through a personalized Student Debt FinHealth platform that optimizes federal repayment plan enrollment, automates the management of unruly student loans, gamifies spare change, and enables users to discover free money from merchants while shopping online. FutureFuel.io's comprehensive platform reduces student debt by empowering users to take small actions that make a big impact. FutureFuel.io’s institutional investors live at the intersection of social impact, fintech, and the future of work. Investors include some of the world’s top VCs including Salesforce Ventures, Rethink Impact, Vulcan Capital, Fiserv, Breton, the Financial Health Network, Reach Capital, G9, and the Impact Engine.