Morgan Stanley Expands Student Loan Capabilities

Morgan Stanley has announced enhancements to its Morgan Stanley at Work financial wellness platform.

Changes include the addition of digital portal enhancements, student loan refinancing capabilities and expanded financial coaching. The service is tailored for employees of middle-sized and large corporations.

Brian McDonald, head of Morgan Stanley at Work, points to survey findings that show employers with financial wellness programs that reduce employee stress have better retention and engagement.

“This type of education enables employees to build a holistic plan to help them make confident decisions to achieve their financial goals,” he says.  

The enhancements to the financial wellness program include “a new, more robust assessment tool and personalized journeys with engaging content and calculators.” Employees now have access to over 100 articles across six important topics—personal finances, retirement, investing, college planning, estate planning and taxes.

Employees also gain access to an independent marketplace for student loan refinancing, provided by a company called Credible. The service is designed to help employees better manage student loans.  

In addition, Morgan Stanley at Work now includes a new phone-based, financial coaching service employees and their families can connect to through My Secure Advantage, an independent financial coaching service.

More information on Morgan Stanley at Work is available here.