View in browser

Attigo Connects

April 2023 │ Issue 52

Helping People Reach Their Full Potential

IN THIS ISSUE

Student Loans in the News
Check Out Our Latest Blog Posts
SmartSessions Training: Online and By-Request
Let's Connect at an Upcoming Conference
New Here?

Student Loans in the News

INSIGHTS FROM A TRUSTWORTHY SOURCE

The Power of Employee Care

Inflation continues to challenge people to find creative ways to make ends meet. Recession fears and unstable finances remain a major stressor for people and contribute to overall declining mental health.

The 2023 MetLife Employee Benefit Trends Study highlights the importance of demonstrating care for employees to improve talent management outcomes in a rapidly changing labor market. Employee care is seen as a powerful force in promoting higher job satisfaction, increased worker loyalty, engagement and productivity, especially in the face of talent shortfalls and macroeconomic uncertainty. The COVID-19 health crisis has accelerated and amplified trends that are reshaping where, when and how work gets done, making it imperative for employers to invest in attracting and retaining talent through higher salaries, expanded and unique benefits and holistic health initiatives.

Employee Dissatisfaction Rises Amidst Declining Employee Wellness/Benefit Satisfaction

88% of employers want to show they care, but only 58% of employees feel cared for.
55% of workers are living paycheck to paycheck.
48% of employees cite financial concerns as a cause of lower mental health.
83% of employers say their employees are financially healthy, whereas only 55% of employees say they are.

Opportunities for Employers to Stand Out

Over the past few years, many employers have prioritized employee wellness. However, there remains a lot of opportunity to improve. Employees who feel cared for are:

92% more likely to feel engaged at work.
65% more likely to be loyal.
56% more likely to be productive.

Student loan debt has a big impact on mental health and financial wellness. Employers and higher education organizations have a unique opportunity to make a positive difference.

Employers can support employees by providing a student loan paydown benefit, 1:1 personalized support from trusted experts and financial education website.
Schools can support students by providing financial wellness resources, an annual debt letter and repayment support for those who need guidance.

Important Dates for the Return to Student Loan Repayment

As we wait for the U.S. Supreme Court decision on the Biden Administration’s one-time debt relief plan, we wanted to provide a few potential repayment restart timeline examples.

Scenario 1: The Court decides on or before June 30, 2023.

Decision Made: May 15

Repayment Restarts + 60 days: July 14

Possible First Payment Due + 30-90 days: Aug. 13-Oct. 12*

Decision Made: June 20

Repayment Restarts + 60 days: Aug. 19

Possible First Payment Due + 30-90 days: Sept. 18-Nov. 17*

Scenario 2: The Court remains undecided on June 30, 2023.

No Decision By: June 30

Repayment Restarts + 60 days: Aug. 29

Possible First Payment Due + 30-90 days: Sept. 28-Nov. 27*

*A definite date is yet to be determined. The U.S. Department of Education may roll out a plan with varying timelines to help keep volume manageable for loan servicers. Borrowers should carefully read all loan servicer communications to ensure they stay on top of the evolving situation.

Employer's Guide to SLRA Free E-book

Student Loan Repayment Assistance (SLRA) is one of the fastest growing employee benefits to help attract and retain top talent. Check out the 2023 edition of the employer's guide for even more insight and guidance on implementing an SLRA program.

Download Now!

Check Out Our Latest Blog Posts

Subscribe to Our Blog

SmartSessions^® Training

Register for free online webinars or request individualized training for a fee. All sessions are designed to keep you a step ahead in an ever-changing world.

ONLINE WEBINARS

04/20/23 Amplify Your Student Success Endeavors with GradReady®

05/02/23 Strategies to Strengthen Your Team through Staff Engagement

05/11/23 Living in the Moment with Mindfulness

05/16/23 Handling Unpleasant Conversations

05/24/23 Five Ways Student Loans Impact Credit
06/08/23 The Balancing Act of Work and Home
06/15/23 Retooling Your Time Management to Work for You
06/20/23 A Deep Dive into Student Loan Repayment Assistance
06/22/23 The Great Repayment Restart

View our full schedule that's updated regularly.

BY-REQUEST TRAINING

Our expertise helps organizations and people achieve their goals. We cover a variety of topics including organizational development, repayment support, personal wellness and student success.