Summer的动态

Student loan payments started back up again three months ago, but almost 40% of borrowers missed their payments. Inflation has risen so much since payments were put on hold that it is likely many borrowers are having a hard time cutting their budgets to make these payments, leading to an increase in financial stress. The good news is that due to the CARES Act and SECURE 2.0 it has never been easier for employers to help employees tackle student loan debt. ?? ?? #studentloans #financialwellness

The resumption of student loan payments has raised concerns and uncertainties among borrowers. Along with this, the government shutdown has further clouded the financial future of many Americans. Learn more about the effects in today's Thursday Thoughts blog! https://lnkd.in/gMw9PbcE #hr?#studentloans #government #governmentshutdown #shutdown?#thursdaythoughts?#blog?

Our co-founder, Aaron Smith ??, was featured in an article by Deanna Cuadra in Employee Benefit News, discussing the challenges employees face making their student loan payments and how employers can help. "Employers have a real opportunity to address one of the biggest financial needs of their employees," says Smith. "And this is really the perfect time to do it because payments are resuming, and it's already a very acute problem for many employees." Read the article to hear from Aaron and learn three things employers can do to support their employees with student loans! #StudentLoans #FinancialWellness #EmployeeBenefits

Disclaimer: This is not a political post. This article emphasizes how far apart both political parties are on the subject of Student Loan Forgiveness. Which means, Student Loan Debt isn't going anywhere soon and shouldn't be ignored. Employers, this is a great opportunity to add a meaningful benefit to your current offerings. Employee retention. Talent attraction. Employee well-being. These are just a few of the benefits of the benefit! And, it's tax-free for both employer and employee. LoanBYE can help. Simple implementation. Easy administration. Affordable. #LoanBYE #studentloandebt #studentloanforgiveness #studentloans #studentloanrepayment #employeebenefits #employeewellness #employeeretention #talentattraction #employerofchoice

#HeyIndiana The Biden administration has approved $132 billion more in student loan forgiveness, in an effort to work around the SCOTUS’ rejection of broad student loan debt relief in June of 2023. But did you know that Indiana is one of four states that taxes student loan forgiveness? This action disproportionately transfers the tax burden to students and working class citizens. There’s a lot of tax talk this legislative session and Women4Change urges the public to pay close attention to bait and switch tax bills which create more economic inequality. https://lnkd.in/gZ-uuxtE

New data from the US Government Accountability Office reports that almost 30% of student loan borrowers—"accounting for about $290 billion in loans—were past due on their payments". And as I reported last week, those falling behind on payments are going to see that delinquency affect their credit scores. It's an incredibly hard situation. Inflation, a cooling job market, and stagnant wages are all making it tougher than ever to stay on top of payments, and many borrowers are having to choose between student loan payments or basic necessities. My biggest piece of advice to borrowers in this situation would be to stay proactive. It's tempting to ignore those payments, but proactively making a plan (applying for lower interest rates, negotiating lower payments, etc) will help you avoid losing access to credit. #StudentLoans #StudentLoanDebt #Debt

Student Loan Debt is nibbled at A tiny percentage of student loan holders are getting relief. If someone fits into one of the narrow categories, they may be getting relief. For the rest of America - people with student loan debt and those without, it’s a quandary. Is it fair to hold someone responsible for a decision made while young? How about the fairness of having people who worked through college using minimal debt or those who skipped college altogether, paying off the loans of those who borrowed beyond their means? While the immediate solution is a tough nut to crack, I think the long-term solution is reforming the college system. College shouldn’t cost so much. Or there should be more flexibility, making it easier to work through college. In my book, I wrote about vocational testing before college as one way to save on expensive major changes. The small savings can add up. Check out other ways to get through college with little or no debt in my book, “Say No! To College Debt.” It’s available on Amazon. #SayNoToCollegeDebt, #CollegeLoans, #StudentLoans, #CollegeDebt,

Student Loan Debt is nibbled at A tiny percentage of student loan holders are getting relief. If someone fits into one of the narrow categories, they may be getting relief. For the rest of America - people with student loan debt and those without, it’s a quandary. Is it fair to hold someone responsible for a decision made while young? How about the fairness of having people who worked through college using minimal debt or those who skipped college altogether, paying off the loans of those who borrowed beyond their means? While the immediate solution is a tough nut to crack, I think the long-term solution is reforming the college system. College shouldn’t cost so much. Or there should be more flexibility, making it easier to work through college. In my book, I wrote about vocational testing before college as one way to save on expensive major changes. The small savings can add up. Check out other ways to get through college with little or no debt in my book, “Say No! To College Debt.” It’s available on Amazon. #SayNoToCollegeDebt, #CollegeLoans, #StudentLoans, #CollegeDebt,

Education, education, education....EBRI notes that if employees have the right resources at their disposal, they can manage their debt more effectively through programs like the President's SAVE plan, public service loan forgiveness, or better terms with lenders. At nudge, our platform creates an ecosystem that allows employers to promote education and offerings like Student Loan Contribution Programs, within the scope of financial education. According to EBRI, "whether the benefit is an employer contribution, loan education and navigation, or both, employees need to easily access, understand and track loan progress." — imagine your employees researching student loan debt and seeing a link to your student loan contribution program within the learning journey. This is nudge - contact us if you are curious to learn more.?

40% of student loan borrowers are missing payments. As federal debt forgiveness feels increasingly unlikely, employers seem to be aware that they are next in line to provide support. So, how can you help? 1. Contributions count: Now officially in effect (In IL), the SECURE Act 2.0 allows employers to make matching contributions 2. Educate: Federal student loans come with opportunities to ask for forgiveness and payment reductions. There are resources out there that help with this. 3. Financial Wellness: Student loans might take 20+ years to pay off, as interest keeps their balances high. Offering support to employees with student loan debt might be the edge that puts you over the tough barrier of hiring in 2024. Today's average monthly loan payment ranges from $210 - $314 which equates to a 4-5% pay cut for the typical worker. Over the last 12 months, there has been a 66% increase in employers electing to offer student loan benefits. This number is only going to go up over the next couple of years as well.