An employee benefit designed to attract, retain and have a lasting impact on the financial wellness of your talent

Who are EdAid

We are a technology platform, born to help students fund and pay back the cost of university. Moreover, boosting prosperity by providing access to the best internships and graduate jobs.

What is Paydown?

Paydown is an employee benefit product offering a simple and comprehensive way to build financial wellness at your company through contributions to student debt.

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Recruit & Retain

Increase attraction of graduate & ‘early career’ talent & reduce turnover by positioning yourself as an ethical, socially responsible employer, committed to improving financial wellbeing.


Easy, customisable setup

EdAid do all the heavy lifting - simply enrol the nominated employees and we’ll do the rest. You decide how much to contribute and who is eligible for the reward.


Address today’s issues

With UK uni tuition fees & student loan interest rates skyrocketing (now hitting 6%), employers have an opportunity to help alleviate the student debt burden of this & future generations.



Early results show that 87% of our students surveyed would be more likely to accept a job if the company contributed to student loan repayments.


A contribution of just £50/mth can save one employee up to £30k and 10 years in debt.

The amount paid per employee each month is up to you. Use the calculator below to discover the impact.

Current SLC repayment projection
SLC repayment projection with employer contribution

How we calculated this?

Plan 1 (Pre-2012)

The repayment threshold is £17,775. The interest charged is 1.25% AER. We have assumed 4% annual income growth.

Plan 2 (Post-2012)

The repayment threshold is £21,000. During University all students are charged interest of 6.1% AER. Post-graduation the interest charges range between RPI (3.1% AER) & RPI + 3% (6.1% AER). We have assumed 4% annual income growth.

We only need a few details...

Monthly employer contribution:

A monthly Employer contribution of £200 would result in total contributions towards your employees debt of £400.

Saving your employees £2,400 in repayments (including £2,400 in interest charges). It would reduce the time they spend in debt by 2 years.

Why EdAid


Our Mission at EdAid is to make education affordable, opportunity equal and economic empowerment real. We are transforming the way we collectively manage and reduce the financial burden of Student Debt.


EdAid is authorised and regulated by the Financial Conduct Authority and through the EdAid Foundation (registered Charity No 1163047) is working in conjunction with the SLC to reduce the financial & mental burden of student debt.


As the first and only company to create a benefit of this kind in the UK, EdAid brings to the table an innovative, unique solution to a widespread problem.


What additional costs will be incurred?

The admin fee charged is equal to 5% of the employer’s monthly contribution per employee, per month. This covers all of the technical, regulatory, legal and payments costs for managing the paydown service.

We are a FinTech social enterprise. The EdAid platform does the heavy lifting from a technology perspective and the EdAid Foundation (Registered charity No. 1163047) focuses on alleviating the burden of debt for students & graduates.

What is the cost to the employee?

There is no admin cost to the employee.

Are there tax implications / benefits for the employee?

For the majority of employees this will be seen as a benefit-in-kind and as such taxable at source.

Employers may opt to pay this HMRC liability on behalf employees.

We are actively working with HMRC and SLC to reduce/eliminate this penalty.

How much admin is involved for me?

Very little. All we require is a list of all of your employees who are currently making repayments to the SLC via payroll deduction. We then offer an enrollment option for those employees who have non-UK student debt.

We can support employees of all nationalities in repaying their student debt.

Why wouldn’t I pay straight to the SLC?

EdAid is FCA authorized and the only company working in conjunction with the SLC, which enables us to manage all of the heavy administrative, regulatory and technical aspects of paying down student debt.

Furthermore, we will triage the payments if there are multiple lenders, to ensure the most expensive debt is paid down first.

Partnering early provides you a competitive advantage in the ongoing fight for the top graduate talent.

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