Jeffrey Hull’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

🎓 💰 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

According to the Department of Education, roughly 40% of student loan borrowers did not make their first monthly payment in October — and given average wages and the cost of living, that’s not very surprising. I spoke with Aaron Smith 🎓, co-founder of Savi, about how employers can support borrowers in 2024. No financial wellness strategy is complete without this. Read more on Employee Benefit News. #studentloans #debt #studentloanforgiveness #education #finance #wellness https://lnkd.in/e-H458iC

Are you wondering why offering a student loan debt repayment benefit can create financial wellness for your employees? Our latest blog post explains how this benefit can impact employees and help them take control of their finances. Check it out here: https://lnkd.in/gSdbX2CX At MeetPaidly, we're dedicated to helping organizations provide this benefit to their employees. Speak to your HR department about how you can offer student loan debt repayment as a benefit via meetpaidly.com. Don't have this benefit yet? Share this strategy with your employer and use our resources to start the conversation. Invest in your employees' financial future and unlock a world of possibilities. Let's pave the way for a brighter tomorrow together. #financialwellness #studentloans #savings #IRA #compoundinterest #financialfreedom

Congratulations, Graduates of 2024! As you celebrate this incredible achievement and step into the next chapter of your journey, keep in mind the importance of managing your student debt strategically. With student loan debt in the United States totaling $1.75 trillion, with $28,950 owed per borrower on average (Source: Forbes Advisor), it's crucial to have a plan. Here are a few things to know: High Interest and Consolidation Focus on paying off high-interest loans first, starting with private or variable-rate loans. Federal student loans offer flexible repayment plans, so switch to one that fits your needs best. Employer Assistance Programs Many employers offer student loan repayment assistance. Thanks to the CARES Act, up to $5,250/year in employer-provided educational assistance is tax-free through 2025. Some companies even allow unused paid time off to be converted into loan payments. Always ask about these benefits. College Savings Plans Section 529 plans offer tax-deferred growth and tax-free withdrawals for education expenses. The SECURE Act allows up to $10,000 (lifetime cap, per beneficiary) to repay student loans. However, using 529 funds for loan payments means you can't deduct that loan interest on your taxes. For more tips, check out the following posts from Cover & Rossiter's Great Advice Corner: https://lnkd.in/ejNRdGeh https://lnkd.in/eKKV9fEJ #CoverandRossiter #GreatAdviceGreatPeople #Accounting #CPA #TaxProfessional #DelawareCPAFirm #WilmingtonDelawareCPAFirm #CPAFirm #Graduates2024 #StudentLoans

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

Check out the first article in a series I'm writing! 🤗

Important Update: Student Loan Payment Pause Ending and Fresh Start Initiative 📢 Congress recently passed a law preventing further extensions of the payment pause, meaning student loan interest will resume starting on September 1, 2023. For those in default, there's good news: you can now get your loan out of default through the Fresh Start initiative. Many students have already had their loans forgiven, which is a significant milestone for them. For more information, visit [myeddebt.ed.gov](https://myeddebt.ed.gov/). Student loan forgiveness is vital knowledge for the next generation of professionals. With this information, they can plan for retirement earlier than expected. This is fantastic data for your company to consider when planning your total rewards strategies. Stay informed and ensure you have the best strategies in place for your business and employees. #StudentLoanForgiveness #FreshStartInitiative #HRConsulting #EmployeeBenefits #TotalRewardsStrategy #RetirementPlanning #StayInformed #HRHub #ProfessionalDevelopment

The clock is ticking for Employers who want to support their Employees with student loans. ⏰ 👨🎓 The Cares Act Tax Free Student Loan Benefit is set to expire at the end of 2025. The CARES Act allows employers to pay up to $5,250 toward student loans on behalf of employees without incurring U.S. federal income taxes. This benefit can significantly reduce a borrower's total debt load. So if you're an employer, now is the time to explore how you can utilize the remaining CARES Act benefits to support your workforce and bolster benefits packages. Let's make a difference in the lives of our employees! 🌟📚 #CARESAct #StudentLoanBenefit #EmployerBenefits #SupportEmployees

The clock is ticking for Employers who want to support their Employees with student loans. ⏰ 👨🎓 The Cares Act Tax Free Student Loan Benefit is set to expire at the end of 2025. The CARES Act allows employers to pay up to $5,250 toward student loans on behalf of employees without incurring U.S. federal income taxes. This benefit can significantly reduce a borrower's total debt load. So if you're an employer, now is the time to explore how you can utilize the remaining CARES Act benefits to support your workforce and bolster benefits packages. Let's make a difference in the lives of our employees! 🌟📚 #CARESAct #StudentLoanBenefit #EmployerBenefits #SupportEmployees