Beth Krasnow’s Post

🎓 💰 The CARES Act significantly impacted Federal Student Loans, providing much-needed relief to borrowers. Its provisions have been a beacon of hope. However, as some of these provisions have ended, many face increased uncertainty and stress. 📣 Hey Employers: Maximizing benefits to support your workforce efficiently is crucial during this transition period. It's important to understand the current landscape and provide support, as this can significantly enhance overall employee satisfaction, retention, and well-being, fostering a positive work environment. Here are some effective ways to support your employees and show them appreciation. 😍 #EmployeeSupport #Appreciation #WorkplaceWellness #CARESAct #StudentLoans #EmployerSupport

Did you know that one in four of the country’s more than 129 million privately employed workers have student loan debt, and how much this weighs on their minds at work and personal life? And how this affects their #financialfuture? Great piece from Don Weinstein about #millennial and #genz student debt - and how smart employers are helping. https://lnkd.in/e5UuseAN

SECURE 2.0’s new education and student loan benefits went into effect in 2024, which gives employers new opportunities to support their employees. Learn more in our blog. https://bit.ly/3TmhHKY #SECURE2.0 #StudentLoan

Student loan payments resumed earlier this year, affecting millions of people's budgets especially when it comes to spending on non-necessities. I spoke with borrowers that shared how they're feeling this holiday season + an expert that offered some recommendations. Here are some of them: 🎁Gift-giving pressure is real, it's okay to acknowledge it 🎁Budgeting is always a good idea 🎁Communicate your financial stress to your loved ones 🎁Sometimes, the best gift is quality time!! Check out my latest financial wellness piece for The Associated Press ! #budgetingtips #holidayspending #holidayseason2023 #studentloans https://lnkd.in/ecJW9tXR

Navigating student loan repayment is crucial for new physicians. Income-driven repayment plans can align your monthly payments with your income, while Public Service Loan Forgiveness offers a path to erase debt after ten years in qualifying positions. Understanding these options can significantly ease your financial burden as you start your medical career. #StudentLoans #DebtManagement #MedicalProfessionals

Learn how a student loan matching program can be a valuable addition to any benefits package, helping employees pay down student debt, strengthening engagement, boosting retention and fostering a workplace that truly supports employee financial wellness. #StudentLoans #EmployeeRetention #ADP Send me a direct message to learn more!

Fidelity supports the recent introduction of the Employer Participation in Repayment Act. This bipartisan legislation would make permanent a temporary provision that originated from the CARES Act of 2020, allowing employers to contribute up to $5,250 tax-free to their employees’ student loans. Today, Americans owe over $1.7T in student debt and the cost of college has increased 45% in 20 years. This bill ensures a public-private, win-win solution to the country’s growing student debt issue by creating a permanent path for employers to seamlessly contribute to and ease the student debt burden of their employees. As a market leader in student debt workplace benefits, Fidelity has seen the significant impact this provision has had. We look forward to working with Congress to advance this important policy into law.

Lots of good stats in this article including, "Student loan assistance is the fastest-growing employee benefit, with 17% of employers now offering a program, and another 31% that intend to launch a program in the upcoming year." #studentloans #financialwellness 🎓 💸

Employers can measure the impact of student loan debt relief programs by tracking key metrics such as employee retention rates, job satisfaction scores, and financial wellness improvements. Surveys and feedback mechanisms can also provide valuable insights. For example, LoanBYE's comprehensive solutions can help employers gather data on how debt relief benefits influence employee well-being and retention. #employeebenefits #earlyeducators #schoolteachers #economicmobility #schooldistricts

Public service workers feel undervalued, overworked, and unfairly paid - and it’s leading them to quit. The good news? It’s not too late for employers to do something about it. Throughout our new series by Samantha Park Young, we share how student loan debt is affecting the lives of educators, healthcare workers, and nonprofit staff. In this first of this series of Debt vs. Service, we explore: - Why student loan debt is driving away public service workers - How Public Service Loan Forgiveness is failing to keep its promise, and - What employers can do to attract and retain their workforce Learn more about how student loan debt is causing a public service shortage: https://lnkd.in/gEs3saZn #pslf #attracttalent #studentloanrepayment #employeebenefits