Student Debt Program
We get it. Finding money each month to put towards all the priorities on your plate is hard enough. And you’re supposed to be saving for the future too? It can often feel like a choice – either paying off your student debt or saving for retirement. Trane Technologies wants to help make that choice a bit easier, through our Student Debt Program.
You can earn Matching contributions to your ESP account simply by making your student loan payments! That way, you won’t miss out on dollars in your account now, which can grow over time.
To participate, simply sign up through NetBenefits. You can track your student loan payments and the corresponding Matching contributions you receive from your account on NetBenefits.
How your benefit works
With this benefit, your employer treats your monthly student loan payment like a retirement contribution and provides a match that goes into your retirement account after the end of the plan year.
To participate in the program, you’ll start by providing us your loan information. Throughout the year (we recommend quarterly), you will need to upload confirmation of loan payment history. This will ensure you get full credit toward your matching contribution. You will receive periodic reminders to provide payment confirmation. In addition, there will be an annual review period in January for you to confirm your payment history is accurate. Trane Technologies will then use that information to calculate any additional matching contributions you may be eligible to receive.
Note: If you are a highly compensated employee, you must be employed on the last day of the plan year in order to receive the matching contribution related to your student debt contributions.
Read this guide for more information.
Use this tool to help manage your student loans
In addition to signing up for the Student Debt Program, you can also access Fidelity’s Student Debt Dashboard, a tool designed to help you manage your student loans. It gives you an easy-to-view picture of your loans and lets you model different scenarios to see how you can improve your loan.
What Next?
Strategies for Student Loan Debt
How you take on—and pay off—student loans should be part of your financial plan.
Enroll now in the Trane Technologies Student Debt Matching Program!
Sign up to get matching contributions for your student loan payments.