Candidly

We are proud to share that Candidly has been named to Fast Company's list of the world's Most Innovative Companies for 2024. 🚀 80% of Americans with student loans prioritize paying down their college debt over saving for retirement — a tradeoff with devastating consequences for long-term financial security. So when lawmakers first proposed a policy to enable employers to match workers' student loan payments with retirement contributions, we started developing the technology needed to bring such a program to life. And as a result of our proactive stance and steadfast willingness to make big bets in borrowers' best interest, Candidly was ready to help stakeholders operationalize the legislation from the moment it became law on January 1, 2024. Our SECURE 2.0-compliant Student Loan Retirement Match solution is just one example of how innovation drives impact at Candidly, and one of many reasons why we're so proud to be recognized among the world's Most Innovative Companies. Read more here: https://lnkd.in/gjarVdN3

The return to federal student loan repayment has forced many borrowers to save less — and nearly a quarter (23%) of respondents said they don't have any savings in the first place.

Two federal district courts on Monday issued orders that halt further implementation of the SAVE Plan. The orders were entered in response to lawsuits filed by lawmakers in Kansas and Missouri, and prevent the Department of Education from issuing any further loan forgiveness through SAVE and from reducing monthly loan payments under SAVE from 10% to 5% of borrowers’ discretionary income (a change that had been slated to be carried out on July 1). It’s expected that the Biden administration will fight this legal challenge, but for the time being, borrowers should expect that their monthly payment amount will remain the same. The orders do not, however, block borrowers from enrolling in SAVE, or reverse any payments made by or forgiveness granted to borrowers who are already enrolled in the repayment plan. Read more about this latest roadblock for federal student loan borrowers: https://lnkd.in/gJpDhZvF.

Are you at #SHRM24? We are! Drop by booth 423 to say 'hi' to our team 👋 Andrew Blaho Ryan Derkson Michael Sowa, CFA, FRM, CAIA Brittany Tony

Recent studies have found that for every $100 in wealth held by white households, Black households hold only $15. The racial wealth gap is, simply put, massive — and it continues to grow each year. Each year, we observe Juneteenth as a company holiday to celebrate freedom, reflect on the continued fight for equity, and consider how our mission — to bring financial wellness within reach for everyone — can help to narrow the racial wealth gap. 

Happy Father's Day! In observance of the holiday, we're giving Candidly team members a floating PTO day so they can celebrate however and whenever they'd like.

Federal student loan repayment resumed last fall. How have borrowers been faring in the months since this turning point? Here's what we learned when we surveyed borrowers on the financial — and emotional — impacts of the return to repayment:

Heading to #SHRM24? Schedule time to meet with our team to learn about bringing smarter financial wellness benefits to your workplace — and score a custom candy box to take home 🍭 Learn more and schedule your meeting here: https://lnkd.in/gKz66VEA

For highly educated, highly indebted nonprofit workers, PSLF can be "a light at the end of the tunnel." Check out these highlights from our latest webinar, and join us in thanking Dr. LaTonya Henderson, Carli Coyne Reddy, CSLP, and Michaela (Noé) Rubin for sharing their insights!

Tuition reimbursement benefits unlock tax incentives, cultivate employee loyalty, attract top talent, and promote a more inclusive workplace. Take a closer look at what employers have to gain by offering this perk in the latest from our blog: