What to Look For in an SLRP Provider
Choosing a student loan repayment benefit platform is not a commodity decision. The provider you select determines how compliant your program is, how smoothly payments reach your employees' loan servicers, and how much administrative overhead your HR and payroll teams absorb.
The criteria that matter most when evaluating platforms include: Section 127 compliance automation (plan document generation, nondiscrimination testing, W-2 reporting), disbursement model (escrow-based direct payment to servicers versus payroll supplements), payroll integration breadth (ADP, Gusto, QuickBooks), and vertical specialization — particularly for healthcare employers where provider debt loads and retention economics are fundamentally different.
Pricing transparency also matters. Some providers bundle fees into per-participant charges; others layer transaction percentages, implementation fees, or minimum commitments that are not disclosed until deep in the sales process. We believe employers deserve upfront pricing. For a step-by-step implementation walkthrough, see our How to Set Up a Student Loan Benefit guide.
Finally, content and compliance depth signal how seriously a vendor takes this space. Does the provider publish substantive guidance on Section 127 compliance? Do they address SECURE 2.0 Section 110? Is their messaging current with the OBBBA permanence? These are signals of investment in the category.
Head-to-Head Comparison
| Feature | BenefitPlus | Goodly | Gradifi | FutureFuel | Vault | SoFi at Work |
|---|---|---|---|---|---|---|
| Healthcare vertical focus | ✓ | — | — | — | — | — |
| Section 127 plan doc generation | ✓ | — | — | — | — | — |
| Escrow-based disbursement | ✓ | ✓ | ✓ | ? | ✓ | ? |
| OBBBA 2025 content/messaging | ✓ | — | — | — | — | — |
| SECURE 2.0 Section 110 integration | ✓ | — | ? | ✓ | ? | ? |
| Payroll integration (ADP/Gusto/QB) | ✓ | ✓ | ✓ | ✓ | ✓ | ? |
| W-2 Box 12 automation | ✓ | ? | ✓ | ? | ✓ | ? |
| Nondiscrimination testing | ✓ | — | ✓ | ? | ? | — |
| ROI calculator (public) | ✓ | — | — | — | — | — |
| Published Section 127 guide | ✓ | — | — | — | — | — |
| Vesting schedule management | ✓ | ✓ | ✓ | ? | ✓ | — |
| Transparent pricing | ✓ | ✓ | — | ? | ? | — |
| Conflict-free (no lending arm) | ✓ | ✓ | — | ✓ | ✓ | — |
| No minimum employer size | ✓ | ✓ | — Enterprise (50+) | — Mid-market (50+) | ? Mid-market | — Large employers |
✓ = confirmed from public-facing materials. ? = not clearly documented. — = not offered or not found. Data reflects publicly available information as of March 2026.
Provider Profiles
Goodly
Goodly targets small and mid-sized businesses, particularly in the technology sector. Its interface is clean and straightforward, and pricing is transparent. Goodly is a solid choice for SMBs that need a simple, no-frills SLRP solution. However, Goodly does not offer Section 127 plan document generation, nondiscrimination testing, or healthcare-specific features. For employers in healthcare or those needing full compliance automation, BenefitPlus provides a more complete solution.
Gradifi by Morgan Stanley
Gradifi serves large enterprise employers and benefits from the Morgan Stanley brand. Onboarding and implementation tend to be longer due to enterprise processes. Gradifi does not currently publish substantive Section 127 compliance content or reference the OBBBA permanence in its public materials. For mid-market or healthcare employers seeking faster implementation and deeper compliance content, BenefitPlus offers a more agile alternative.
FutureFuel.io
FutureFuel positions itself as a broader financial wellness platform, with student loan repayment as one component of a larger benefits suite. This is an advantage for employers seeking a single-vendor financial wellness solution. The trade-off is that SLRP messaging and compliance depth may be diluted across the broader platform. BenefitPlus focuses exclusively on student loan repayment benefit administration, which means deeper specialization in Section 127 compliance and disbursement.
Vault
Vault offers a well-designed user experience and serves employers across industries. Its public-facing content on compliance requirements is limited compared to platforms that publish detailed Section 127 guides. Vault is a reasonable choice for employers prioritizing UX. BenefitPlus differentiates with published compliance content, healthcare vertical expertise, and public ROI calculators.
SoFi at Work
SoFi at Work benefits from massive brand recognition and a large existing user base. However, SoFi is also a student loan lender and refinancer, which creates a potential conflict of interest when administering employer student loan repayment benefits. SoFi may recommend refinancing to employees as part of its platform experience. BenefitPlus is conflict-free — we do not lend money or refinance loans. Our only business is administering the employer benefit.
Peanut Butter
Peanut Butter offers a low-cost solution aimed at small businesses. It is a good entry point for very small employers testing the concept. However, compliance automation features like plan document generation and nondiscrimination testing are minimal. For employers who need a fully managed, compliance-first program, BenefitPlus provides more comprehensive infrastructure.