Highway Benefits offers an employee benefits platform that lets employers create and manage customizable, tax‑free contributions directly to employees’ student loans and verifies loan eligibility and compliance. The product automates contribution rules, tax compliance, and connects employees to their loan servicers via integrations so they can begin saving immediately. Highway charges employers only for employees who enroll and are actively receiving contributions each month. The company announced integration with Rippling and availability in Rippling’s App Shop to make adoption easier for companies using that workforce management platform. Highway says it is scaling its platform to address the $1.8 trillion in student loan debt affecting roughly 45 million borrowers (average balance cited as $38,000 with $400 monthly payments) and expects increased demand as student loan repayment activity resumes. Founded in 2021 by Mick MacLaverty and Cory Micheel and based in Manhattan Beach, Calif., the company positions its student loan matching product as a tool for recruitment, retention, and employee financial wellness.

Total raised

$3M

Funding rounds

1

Latest round

Seed

Latest activity

Mar 2023