U.S. student debt affects over 44 million borrowers and exceeds $1.2 trillion in total debt. Founded in 2012, Student Loan Hero is on a mission to help those millions of borrowers. By combining financial education with easy-to-use tools and calculators, Student Loan Hero helps people master their financial life.
"It’s rewarding to work on problem that affects so many people,” explains Amneet, a Finance Manager at Student Loan Hero. “Most people have been in the situation where they are in a mountain of student debt and are not sure what to do. ‘How could I possibly get married with all my loans?’ Student Loan Hero is here to help those borrowers navigate those questions on their financial journey."
With aggressive hiring goals to expand their service, Student Loan Hero more than tripled their team over the past 18 months. The financial education company was searching for a payroll and HR platform that could support their rapidly growing team, a team that’s spread across more than 20 states as a 100% remote company.
Amneet, the primary admin of Gusto, reflects back on when she was first hired. “We were growing like crazy, and I had to register a lot of new states. I was really nervous about getting fined or making mistakes. I had no previous experience with payroll or HR. With Gusto, it’s not scary and their helpful support team quickly responded to any questions I had.”
As they’ve grown, Student Loan Hero has added four more admins to Gusto to manage various payroll, benefits, and HR tasks. “I’ve been very impressed by how quickly everyone was able to get up and running with Gusto. No training is really needed. Everything is straightforward and it’s easy to learn as you go,” said Amneet.
The finance team is enjoying the time saved from running payroll with Gusto. “It now only takes 2 hours end-to-end versus a full day with another payroll provider. That is pretty significant.”
We’re really happy with Gusto, because it is reliable, easy-to-use, and is constantly improving so it keeps growing with us.
Like most small companies, staying compliant is a top concern for Student Loan Hero. “The support team at Gusto is so helpful. We rely on them constantly. Whenever something comes up, I student-loan-hero out and literally 24 hours later they tell us what to do or assure us that they’ve already handled it for us.”
Amneet mentions Gusto’s Help Center as her go-to resource any time she runs into payroll or compliance question. “It’s great that I can quickly find articles that help me navigate the complexities associated with operating in so many states.”
We really do consider Gusto to be a key business partner. We rely on their expert payroll, tax, and compliance advice from their awesome, helpful support team and Help Center articles.
“Our philosophy when it comes to benefits is that we don’t just want to match the market. We want to lead the market,” Kate Arambula, People & Culture Director, shares proudly. Student Loan Hero leverages benchmarking surveys and constantly researches the latest benefits to offer their team a unique compensation package. “We show appreciation for our team by offering benefits that employees really enjoy.”
In addition to health insurance, a fitness stipend, and an individual educational budget, Student Loan Hero offers retirement savings to their team. Amneet was happy to find that Gusto offered an integrated 401(k) solution. The automatic payroll deductions and customizable company contributions made Guideline, Gusto’s integrated partner, a no-brainer choice.
Another special benefit that Student Loan Hero offers their employees is charity-matching. Employees can take advantage of the giving feature within Gusto in which their employer matches a percentage of their individual charity donations.
We want to be on the cutting edge of employee benefits.
With four full-time HR people, Student Loan Hero has made a significant investment in HR for a company of their size. Kate explains that HR is a key component in building their company and sustaining their culture. “Everything from recruiting to onboarding to ongoing employee engagement is important to invest in. Employees are the foundation of our success.”
I feel proud to work for a company that views HR as a strategic part of the company’s success.
As a fully remote company, modern tools are crucial to keeping the team connected and productive. Along with Gusto, Slack and Zoom are two favorite tools that Student Loan Hero rely on.
“It’s special to work with people all over the globe,” says Amneet. “The HR team does a lot to champion a culture people love and to keep us engaged. It’s pretty remarkable how you can feel so close to people you may only see once or twice in a year with modern technology.”