I Want To Provide Student Loan Repayment Assistance To My Employees

Finding a Solution to Your Student Loan Debt Woes Just Got a Whole Lot Easier

This is urgent. We’re all on the same side here. None of us want the student loan debt crisis to continue. The fact that we’re all in this together can be easily overlooked in these divisive times, but it’s true. Student loan debt has incalculable ramifications – from the psychological to social and economic – none of which are desirable or healthy in a functioning society. The only ones who benefit from the current situation we’re in are the banks, private lenders, debt collectors companies, and even the federal government who continue to make money off students. Those people can’t be dissuaded, but that’s okay because they don’t have the power. Not real power. What they have is money. What we have are the numbers.

How your employer can help

That’s why it’s so important to vote and to pay attention to what’s going on in the political realm.  I hate to get political here because this ultimately shouldn’t be about politics, but it is. The other thing that we have are our voices. We can speak up and collaborate to find solutions. Right now employers are uniquely situated to be able to help ease some of the stresses of our current predicament. That’s the employer student loan repayment assistance program. I’ve talked about it ad nauseam on this blog for over half a year now and will continue to do so as long as I’m allowed because I believe in the program. I believe it is a solution. Not the solution. There is no one single solution. But, it can help tremendously.

How you can help

Sometimes I feel like there’s this unacknowledged stigma surrounding student loan debt. Conversations that I’ve had with friends and fellow debtors in my personal life have always had the flavor of shame or embarrassment to them as if we were afraid to talk about it or even admit that we had no idea where to begin. I realize that talking about it is the first step to solving it. How many friends do you know (and maybe this describes you yourself and that’s okay) who simply ignore their problems in the hopes that they’ll go away? These people are miserable and they abhor the status quo, but yet, they do nothing to change it. They are stifled and scared.  Stuck.

One of the most powerful things that you can do right now to alleviate your own student loan debt situation is to use your voice and tell your employer about the student loan debt repayment benefit. This is not a sales pitch. This is common sense. Who among us can’t use a helping hand from our employer?  It’s really simple: your employer makes contribution payments to help pay off your student loan debt as one of their HR benefit options. The kicker is that the employer benefits from this, too.  Offering a program like this makes employers more appealing to job seekers. People stick around longer and feel better about coming to work knowing that their employer cares about their financial well-being. Everybody wins.

LoanBenefits for ADP Workforce Now

It’s even easier now for your employer to set up this program with the recent partnership between LoanGifting and ADP.  Because employer contribution payments are all processed through the employer’s payroll system, LoanGifting’s partnership with the largest outsourced payroll services provider in the United States is kind of a big deal.  If your employer currently uses ADP to manage their payroll, it just got that much easier for them to get on board with this movement. And yes, it is a movement. The hard work has already been done. If your employer wants this program, they can call LoanGifting and have the entire thing set up in under thirty minutes.

The program features a comprehensive debt review process for employees as well as access to financial wellness tools including default assistance, financial advice, planning tools, and even news and updates on the current legislative processes that affect the student loan debt crisis. This is more than just some trendy PR stunt for your employer to benefit from. It is the start of a dynamic, symbiotic relationship between employer and employee – a relationship in which both parties work together to find solutions. This is teamwork.

The next step

There are no set up costs, upfront fees, annual fees, or monthly user fees. There is just a simple 5% processing fee per contribution payment, and that’s it. So, talk to your employer about this program. Let them know what it would mean to you to get help. Be an advocate for your own financial well-being and speak out. No more stigma and no more shame. Let them hear your voice. If you think your employer should offer the student loan repayment assistance program, use the following link, which details how the program works and what to expect from it: LoanBenefits for ADP Workforce Now. Get the conversation started.

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