Prominent Financial Services Expert and Honest Dollar Co-Founder to spearhead collaboration, help employees hindered by student loan debt
Austin, TX – May 10, 2016 – Student Loan Genius, Austin-based student loan benefits provider, today announced that Henry Yoshida, Honest Dollar co-founder, has joined its team as the vice president of partnerships and product strategy.
Yoshida brings more than 14 years of experience aiding companies with the development of benefits solutions that help employees improve their financial picture.
“My career’s been dedicated to helping companies and employees find innovative ways to solve big financial problems. Today, student loans are one of the biggest hurdles to investing, starting a family and other basic life milestones working professionals should be able to reach,” Yoshida said. “To me, the Student Loan Genius benefit just makes sense for companies because it makes sense for their employees.”
Today’s data shows that more than 70 percent of student loan borrowers say their student debt burden has affected their ability to invest or purchase a home. Yoshida will lead efforts to expand and enhance the fintech startup’s collaboration with partners like Prudential Financial to help employees achieve the important milestones hindered by debt and crush America’s $1.3 trillion student loan problem.
“As our core business has grown, so have the opportunities to team up with major employee benefit and 401(k) providers like Prudential that have the power to quickly put our technology into the hands of millions of Americans struggling with student loan debt,” said CEO and Co-Founder Tony Aguilar. “Henry is an incredible addition to our team because of both his passion for our business and long history helping companies use benefits as a way to boost culture, retention and employee engagement.”
In March of 2016, Prudential announced that it will help bring Student Loan Genius’ robust Genius Platform to the 4 million retirement plan participants whose companies opt-in. Yoshida will work closely with the Prudential team, customers and other partners to help the company continue to innovate through services like its 401(k) contribution feature, which allows employees to grow retirement funds by paying off their student loans.
The average Student Loan Genius user taking advantage of its direct match receives savings of $31,291 and an average repayment time reduction of 12 years. Those who receive a $100 contribution through the 401(k) feature can reap the benefit of an additional $150,000 at retirement.
“Our Genius Platform is driving real results for the employees it serves today, but our commitment is to help as many people as we can,” Aguilar said. “With Henry and our partners, we are planning to change the financial picture for an entire generation.”