Blog.
Knowing the Difference between Consolidation and Refinancing Makes a Difference
It's easy to mistake the terms "consolidation" and "refinancing." It's understandable to believe that the only way to consolidate student loans is through refinancing. While refinancing does consolidate student loans, that doesn't mean that's the only method. What is...
Blame Millennials for Changes in the Workplace
Enter the phrase, "Millennials are ruining ..." into Google and allow the search engine to autofill an entry. What came up? Did, "Millennials are ruining the workplace" show up? There's a reason why that particular search term is so popular. Millennials have a strong...
You’re Wasting Money on Financial Wellness Benefits
Two years ago, we released a report surveying employers about financial wellness benefits. We found that employers feel there is room for improvement in the benefits they offer to their employees. Earlier this year, we surveyed employees and found that "71...
Should employers provide benefits to gig workers?
40 percent of the U.S. workforce is part of the gig economy Between 54 and 68 million Americans consider themselves an independent contractor, self-employed, temp, contract worker, outside consultant, freelance worker, temporary worker, or contingent worker. This...
8 Reasons Employees Default on Their Student Loans
Even full-time employees default on their student loan payments. It's expected that 2 out of 5 student loan borrowers will be under default in the next five years. According to a recent report by Brookings, income alone cannot predict who will default on their student...
Will Student Debt Cause an Economic Recession?
History of Economic Recessions The economic recessions of the 20th century are attributed to wars, oil/energy, and inflation. It has been about a decade since the last recession, and, historically, the time between recessions are less than 10 years. Many financial...
Employees Need Help with Student Loan Servicers
What is a Student Loan Servicer? If you hold federal student loans, you borrowed money from the U.S. Department of Education (ED) via their Federal Student Aid program. To handle the repayment of those loans, ED uses student loan servicers. Currently, there are 9...
Retirement Benefit Linked to Student Loans
Millennials Struggle to Save for Retirement In our recent financial survey, we found that 48% of respondents under the age of 40 have less than $5,000 saved for retirement, and 19% have no savings at all. At their current rate, they are unlikely to be able to retire...
Webinar on Student Loan Assistance
Employers are more aware of workers facing financial stress over their student loan repayment. Traditional voluntary benefits intended to help employees manage their finances, such as 401(k) plans, are becoming less effective. Workers across the country are asking for...
How Student Loan Contributions Work
Employees Need Student Loan Contributions Deciding to offer a student loan contributions is one of the best ways to help your employees improve their financial wellness. Student loan debt can often seem overwhelming, especially for recent college graduates facing 10...