by Joe Kwasniewski | Nov 12, 2024 | Benefits, Decisions, Differentiation, Employee Benefits, Financial Wellbeing, Human Capital, Human Resources, Insights, Plan Design, Program Management, Student Loan Assistance, Student Loan Debt, Student Loan RepaymentIt has now been close to a year since the...
financial impacts that student loan debt has on the post-college life of a very large number of borrowers. 1 You get what you measure. The federal government tracks data on student loans with an emphasis on total indebtedness and default rates, and as a result, ...
The Supreme Court in June 2023 blocked an effort from the Biden Administration to forgive up to $20,000 per borrower in student loan debt at a cost of $430 billion.30 Following the Supreme Court decision, the Biden administration launched theSaving on a Valuable Education (SAVE) plan, a ne...
In the College Cost Reduction and Access Act of 2007, Congress has created the income-based repayment (IBR) plan for student loans, through which graduates with high debts and low incomes may substantially reduce their monthly loan repayment obligations. Congress has also created a public service ...
with student loan debt often cite the loan repayments as the reason they are unable to participate in a 401(k) plan. Those employees may be missing out on matching contributions made by the employer under the plan. The ruling effectively allows the employer to treat student loan repayments ...
000 in down payment assistance and student loan repayment assistance to borrowers who want to buy a house. You must have at least $1,000 in student debt to participate. The program will pay off a student loan amount equal to 15 percent of the home cost, with a maximum payoff of $20...
A vast list of in-network school providers who offer low to no cost education opportunities with partner schools, plus academic advisory resources. A new student loan debt repayment up to $5,250 annually for Team Members. A 529 college savings plan which provides tax advantage funding options ...
Payments can be made directly to a third party or employee, regardless of when the debt was incurred. However, the CARES Act only provides temporary benefits for qualified education loan payments made after March 27, 2020, and before January 1, 2026 (unless further extended by future ...
Update August 2022:Total federal direct payments to help with Covid-19 aid totals $931 billion. While certain programs continue to run, the majority of aid specific to Covid-19 via direct payments has ended. If you have outstanding College Student Loan Debt, you may be eligible forloan forg...
High living expenses, student loan debt and fluctuating job markets are just a few hurdles preventing potential buyers from setting aside enough funds to purchase a home. For those struggling to save for a down payment, there are several options worth exploring, such as low down payment ...