[Bloomberg Law] 401(k) Law’s Appeal Fades as Workers Face Student Debt Deadlines

by Joe Kwasniewski | Aug 18, 2023 | Benefits, Differentiation, Employee Benefits, Employee Engagement, Financial Wellbeing, Finding Talent, Human Resources, Plan Design, Program Management, Recruiting, Retaining Talent, Student Loan Assistance, Student Loan Repayment, Winning Together

In a recent article from Bloomberg Law, the provisions in the SECURE Act 2.0 that will allow employers to treat student loan repayment like retirement plan deferrals were analyzed. The end result eluded to the fact that today’s workforce needs and prefers direct...

Nearly half of student loan borrowers have or will get their loans transferred this year

by Joe Kwasniewski | Aug 4, 2023 | Benefits, Employee Benefits, Employee Engagement, Financial Wellbeing, Human Resources, Student Loan Assistance, Student Loan Debt

Since the beginning of 2022, student loan borrowers have consistently dealt with transfers to new loan providers, thanks to constant changes in the industry. According to a recent piece by pymnts.com and Google, these transfers have impacted nearly half of all...

[US Senate] Multiple Senators Urge IRS to Promote Educational Assistance Programs

by Joe Kwasniewski | Aug 4, 2023 | Employee Benefits, Employee Engagement, Financial Wellbeing, Plan Design, Program Management, Student Loan Assistance, Student Loan Debt, Student Loan Repayment

In a recent post on the senate’s government website, senators Mark Warner (D-VA), and John Thune (R-SD) urged the IRS to promote educational assistance programs like Student Loan Repayment. The piece highlights the 2020 legislation allowing employers to offer the...

Support employees returning to the office with Student Loan Assistance

by Joe Kwasniewski | Aug 4, 2023 | Benefits, Differentiation, Employee Benefits, Employee Engagement, Financial Wellbeing, Finding Talent, Retaining Talent, Student Loan Assistance, Student Loan Repayment

As we make our way through the back-half of the year, more and more employees are being asked to return to the office. Not surprisingly, there’s been significant pushback from employees that have been asked to move on from their work-at-home environment. A recent...

How To Add Tiers To Your Repayment Plan

by Vishuka Mathur | Oct 16, 2022 | Employee Benefits, Human Resources, Program Management, Student Loan Assistance

Step 1: To add tiers to a new repayment plan, click “Add new plan” from your Plan info page and follow the instructions here. If you already have a repayment plan, click “Edit plan”. Step 2: Select “Yes” to the question “Would...

How student loan debt became a $1.7 trillion crisis [CNBC]

by Vishuka Mathur | Oct 13, 2022 | Employee Benefits, Financial Wellbeing, Human Resources, Recruiting, Retaining Talent, Student Loan Assistance

College graduates are drowning in debt but it didn’t have to be this way. Steadily, tuition increases have outpaced incomes forcing families to rely on student loans to help foot the bill. At this pace, “outstanding student loan debt could topple $3 trillion by 2035,”...