LoanBYE

“About 43% of borrowers who owe payments on federal student loans haven’t resumed making them, according to an analysis of government data by VantageScore, a credit-score provider. That puts more than nine million people at risk of a serious credit-score drop, with two million of those on track to fall into subprime status.” WSJ Makings of the next financial crisis or as a minimum negative impacts on GDP and consumer spending. Employers can make a big difference by adding tax free student loan contributions to their benefit portfolio. LoanBYE can help employers design a custom program to meet your strategic retention goals. #studentloandebt #employeebenefits

“Why offer student loan repayment benefits? An increasing number of people in the workforce today have student loan debt with interest and are searching for help managing it. Companies that tap into this need with an employer student loan repayment program may be able to retain existing employees and attract new talent. Reducing financial stress associated with student loans can also improve productivity and entice employees to further their training or pursue new certifications. In this way, employers can upskill their workforce.” - ADP LoanBYE is full service provider of this benefit. https://lnkd.in/gK2xNCei

“Corporate America is on a mission to thin its management ranks in pursuit of greater efficiency. The purge is pushing workers on all levels to rethink their career paths and the traditional way to better pay and status……With fewer higher-level jobs to move up into, aspiring managers are struggling to get promoted and former bosses have shifted to nonsupervisory positions—sometimes not by choice. Others are moving into new industries to keep a foothold on the management ladder. Companies, meanwhile, are wrestling with how to motivate workers who feel stuck.” WSJ Dec 29, 2024. Improve your employee experience by considering a new tax free benefit. Contact LoanBYE for more information. https://lnkd.in/guNtqH6A

"Borrowers say they are spending hours on the phone with student-loan servicers, who are giving them confusing and sometimes misleading information. They have taken to?Facebook?groups and Reddit threads to crowdsource information and ask for advice. Some feel they can’t leave their jobs, lest they no longer qualify for forgiveness. Others are hesitant to shell out for home renovations or vacations.? “Right now, I just feel stuck,” said?Amber Leonard, a 36-year-old analyst for a health agency in South Carolina. She was six payments away from public-service loan forgiveness when the SAVE program halted." WSJ Dec 23, 2024 If you are a non-profit employer in the health, public service, or education space and would like to explore benefit options to provide student loan debt relief benefits, contact LoanBYE. #Studentloanforgiveness #employeebenefits #employeeengagement #employeeretention https://lnkd.in/gpdWE7CC

Fantastic news for public service workers! However, it's important to note that this only accounts for 2.6% of the total student loan debt. Don't miss out on our tax-free benefit for your employees—take advantage of it today! #studentloans #studentloandebt #employeebenefits #employeewellness #financialfreedom #loans #financialwellness #employerofchoice

Great article that lays out the business case for employers to think outside the box when it comes to compensation and employee retention. LoanBYE can help you, let’s have a conversation about administrative support and record keeping to take advantage of this new benefit opportunity. “Student loan debt precludes many workers from saving for their retirement. Employees with loan debt often have to make the difficult choice between paying off their student loans or saving for retirement. Moreover, student loan repayment commitments often prevent an otherwise eligible employee from contributing to their workplace retirement plan, causing them to forgo employer matching contributions. Thankfully, due to Secure Act 2.0, employers can make the employee’s decision somewhat easier, by taking advantage of the new, qualified student loan matching contribution feature.” https://lnkd.in/gEhCKjDi.

The Richard King Mellon Foundation continues to invest in endeavors that increase access to education and economic success for all Americans. We are proud and humbled by their support for LoanBYE and our mission to help educators with student loans through employer sponsored contributions. #studentloandebt #economicmobility

“Nationwide, student loan debt has hit $1.61 trillion, and a new WalletHub study on the 100 cities with the highest delinquency rates puts Pittsburgh at No. 4.” If you are an employer in Pittsburgh looking to increase employee engagement by making modest tax free contributions to your employee’s student loans, let’s have a conversation. We can help. https://lnkd.in/gNBu_C-b

The election may be over, but questions remain about the future of Student Loan Forgiveness Programs. While only time will tell what changes might come, one thing is certain: student loan debt isn’t going anywhere. LoanBYE is here to help. Our platform remains a reliable solution for employers to offer a Student Loan Repayment Benefit to their employees, unaffected by election outcomes. This benefit is a powerful tool for employers, helping to attract and retain top talent while supporting employees' financial wellness. #studentloandebt #studentloanforgiveness #SAVE #publicserviceloanforegiveness #employerofchoice #financialwelleness #electionresults #employeewellness

The constant back-and-forth on student loan forgiveness feels like a never-ending rollercoaster. The steep drops can be disastrous for those who put off paying their loans in hopes of future forgiveness. LoanBYE takes the uncertainty out of repaying student loan debt. We empower employers to offer a Student Loan Repayment Benefit to their employees. This benefit provides a path to financial wellness and peace of mind, allowing individuals to feel in control of their financial future. #studentloandebt #studentdebtforgiveness #studentdebt #studentloanforegiveness #financialfreedom #financialwellness #employerofchoice #openenrollment #employeebenefits