Summer

The incoming administration's approach marks a clear pivot from public relief to private sector solutions for managing student debt -- which presents an incredible opportunity for employers to step in to support their workforce's financial wellness. Here's what you need to know: ? Mass loan forgiveness is off the table ? But tax-advantaged employer benefits are available now ?? 50% of borrowers haven't resumed payments ?? Student loan benefits help retain and attract talent ?? With Summer, you can implement benefits with immediate impact Get Summer’s playbook on how to support employees, gain tax incentives and strengthen loyalty & retention today -- link in comments!

Andy Higgins may be a great comedian, but this is no laughing matter! There are now approximately 3.5 million Americans aged 60 and older who owe more than $125 billion in student loans. Many people have asked me “how many students do you help?” The reality is that the average age of our members is 43 years-old. The number has been ticking up over the last few years as more parents take out loans in their own name for their children to attend college, and they need just as much guidance as the average 22 year-old who is just starting to pay their loans. That’s because student loan repayment is confusing no matter how much financial education or loan repayment experience you have. And it doesn’t help that student loan polices have changed more in the last 3 years than in the last 3 decades. Interested in helping your employees with this pressing financial challenge? Head to Summer to learn more.

?? Scale x Summer: To Build, or To Buy ?? Excited to release our second edition featuring Will Sealy, CEO, of Summer covering their acquisition of Vault. "M&A is not easy by any stretch of imagination, you need to make sure that every element fits, not just 8 out of 10" Will shares invaluable insights about: + How to make a build vs buy decision when scaling your startup + Choosing the right M&A target + Managing post-acquisition process You can read the full edition by clicking the link below or right here: https://lnkd.in/gxJmKt3B

Super interesting interview with Will Sealy of Summer to understand how growth-stage businesses make the buy vs build decision on Scale Check it out ?? https://lnkd.in/d8xw7V2z

Join us in celebrating the latest additions to the Summer team: Matthew Han and Aaron Rib! Matthew joins Summer as a Product Manager, and brings to the team his rich experience in product roles at both B2B and B2B2C tech companies, most recently at a health-tech startup. He also brings his pup Ollie, who he adopted last year, to our "summerpets" Slack channel! Aaron is our newest Member Success Associate, and has a background in mission-driven Member Success, most recently at a health-tech startup focused on helping members navigate access to care. Fun fact: Aaron is a classically trained flutist! You can catch them performing with the Atlanta Ballet Orchestra ??

Last week, Jemila Stewart (She/Her) and David White had the opportunity to attend National League of Cities’ City Summit, "100 Years: A Century of Strengthening Cities", and what an event it was! They spoke to Mayors, City Counsel members and other reps from more than 50 cities, all of whom are working to find creative ways to attract talent and increase retention –– student loan assistance, especially via Public Service Loan Forgiveness, is at the top of their list. We also met with youth delegates from various cities, who all confirmed what we believe to be true: student debt assistance is a major factor when candidates consider what’s next for their career. And as always, it was a blast to spend time with some friends of Summer on the Government Sourcing Solutions team, including Dan Ross, Mike Smith, Jason Hebbe, John Enkler, and Brian Selander. Thanks NLC for having us –– it’s always rewarding to chat about the impact student loan benefits and college saving tools can have on employees!

The Consumer Financial Protection Bureau just published an important survey report on student loan borrowers. A few key insights: 1?? “Many borrowers are unaware of alternative repayment options or have trouble accessing them.” 2?? “Nearly 42% of all surveyed federal student loan borrowers report only ever being on the standard repayment plan for their federal student loans.” 3?? “Among these borrowers, 31% reported not knowing they could choose a different payment plan, such as a more affordable income-driven repayment plan.” 4?? “For those borrowers who were able to enroll in an income-driven repayment plan, nearly 45% said they experienced some difficulty in either enrolling in or using the income-driven payment plan.” It’s critical that we step up education and assistance to ensure borrowers don’t fall through the cracks and get the help they need.

A huge thank you to Mike Clementi and Frank Congiu of Randstad for co-hosting an impactful dinner in Detroit this week! During the dinner, Summer CEO Will Sealy had the chance to connect with 12 brilliant HR minds and talk about the most pressing challenges and innovative solutions in today’s HR landscape. With leaders from companies like Domino's, Rocket Companies, General Motors, Ford Credit, American Express Global Business Travel, and Flex, among several others, the discussions were both insightful and inspiring. At Summer, we know that providing financial relief for employees—particularly around student debt—can make a significant difference. It’s always rewarding to hear directly from HR professionals about the value of these kinds of benefits, and the positive impact on employee engagement and retention. Thank you again to Mike and Frank for bringing us all together, and to everyone who contributed to such a memorable and insightful evening! Looking forward to more shared ideas and collaborations to shape the future of HR.

?? Sidebar Member Highlight: Michael Scully, Chief Product Officer at Summer From selling coffee out of his college dorm room to leading product teams at Virgin Mobile, Credit Karma, and now Summer, Michael Scully’s career is a story of adaptability, entrepreneurship, and lifelong learning. In our latest spotlight, Michael shares: --> How a mentor’s support helped him navigate early challenges --> Why “celebrating learning fast” beats “failing fast” --> His advice for staying ahead in a world shaped by AI Michael credits Sidebar’s intimate, focused groups with providing invaluable support and insights from fellow product leaders, making his journey even more impactful. ?? Click the article below and read Michael's full story below. ---- ?? Join Sidebar today to connect with inspiring leaders like Michael and gain insights that can propel your career and personal growth. Learn more here: https://lnkd.in/ectbxq7Y

Earlier this month, Bridget Haile and Michelle Tran made their way to Florida for the The SPARK Institute, Inc.'s SPARK Forum. On-site, they met with leading recordkeepers, plan advisors, and partners to discuss how plan sponsors can increase adoption of student loan retirement matching (and they made sure folks at the event were well hydrated!). Here's what they heard from other attendees: 1?? The majority of firms want third party student loan verification to support 401(k) student loan match contributions. 2?? Plan advisors need to think more broadly about financial wellness -- if they don't, plan sponsors will likely choose another advisor who can support more holistic financial wellness programs. 3?? Student debt is personal. In between chats on IRS regulations and Secure 2.0 legislation, we heard from attendees about their own experiences paying off debt and helping children and family members afford college; for Summer, that reinforces our mission to make expert tools and resources broadly available. Massive thanks to Tim Rouse and Marlene D. Jung, CPA at SPARK for continuing to support initiatives at the intersection of student loans and retirement! It was great to connect with partners like ADP and industry thought leaders. We can't wait for the next one!