# Paidly Full Site Documentation --- # Employer 529 Contributions & College Savings Benefits URL: https://meetpaidly.com/529-college-savings Description: Enhance your benefits package with Paidly. Support employees with direct employer 529 contributions for K-12, college, or workforce education. # Secure the Best Talent with Employer 529 ContributionsThe Benefit That Invests in Their Future Emphasize the importance of supporting your employees and their families with **direct contributions** to their 529 educational savings plans. Get Started Today[Talk to an Expert](/contact-sales "Talk to an Expert") ## A Savings Plan that Benefits Everyone 529s are no longer just for college savings - they cover a wide range of education opportunities, including upskilling for employees. ### K-12 Expenses Cover supplies, curriculum, tutoring, college admissions exams, and much more. ### College or Trade School Pay for tuition, textbooks, equipment, housing, and even student debt. ### Workforce Education Use on continuing education credits, certificates, and licensure fees. ### Retirement Rollover funds to an IRA or pass down the account to family members. ## 529 Contribution Makes the Perfect Employee Benefit Embracing the power of 529 Savings Plans not only supports your employees' financial well-being but also builds a more committed and motivated workforce. [Talk to an Expert](/contact-sales "Talk to an Expert") Enhanced Employee Retention A recent survey showed that 66% of employees are more likely to stay with an employer that offers financial planning benefits, including educational savings support. Diverse Benefits With college costs rising by approximately 6.8% each year, a 529 plan is a forward-thinking benefit that addresses a big stressor while letting your employees focus their paychecks toward present needs. Tax Advantages for Both Sides Contributions can grow tax-free, and withdrawals for qualified education expenses are exempt from federal tax, offering a tangible benefit that is also cost-effective for employers. ### 68% of parents would consider draining their retirement savings to pay for college. [¹](https://www.tiaa.org/content/dam/tiaa/institute/pdf/research-brief/2025-08/tiaa-institute-modern-parenting-impact-on-retirement-voee-goodman-august-2025.pdf) ### 74% of parents say the fear of student loans is their top motivation for saving. [²](https://www.salliemae.com/content/dam/slm/writtencontent/Research/HAP_2024.pdf) ## Perfect Pairing with Student Loan Repayment Benefits Pairing 529 plan contributions with Student Loan Repayment benefits creates a benefits package that supports employees no matter where they stand on repaying past education costs or preparing for future ones. [Explore Student Loan Repayment](/employer) ## Friends and Family Help Maximize the Benefit Employees can amplify 529 savings by accepting donations from friends, family, and employers using their Paidly account. It's an extra perk with no additional cost or setup. [Explore Friends Helping Friends](/friends-helping-friends) ## Find Your State's 529 Plan View detailed information on available State 529 plans. Discover the best options to maximize educational savings. [Explore Plans](/resources/529-by-state-information "Explore 529 Plans") ## Simplify Education Savings for Your Employees Make saving for K-12, college, and further education effortless for your employees with Paidly. Our approach removes the complexity, making it simple for employers to contribute to employees' 529 plans. ### Easy Administration Manage your plans and employees with ease and simplicity. ### Quick Setup Get up and running in minutes with our fast setup process. ### Flexible Benefit Plans Contribute to employees' 529s and student loan benefit plans hassle-free ## Easy Employee Enrollment We simplify the incorporation of 529 savings accounts into benefits packages, allowing for employer contributions [similar to student loan repayment](/employer). Employers can easily invite employees via email. We handle the verification process, offering a hassle-free onboarding and management system to ensure privacy and compliance without the need for employers to handle sensitive information directly. ## Smooth Integration Our solution integrates seamlessly into your existing HR systems, making it easy to offer a transformative benefit in minutes, not days. [Talk to an Expert](/contact-sales "Integrate Now") ## Have questions? Our support team is ready to help. Email us at [happiness@meetpaidly.com](mailto:happiness@meetpaidly.com) or call toll-free: [(888) 384-6010](tel:888-384-6010) [See all FAQs](/faqs) 1. TIAA Institute: "New Considerations for Modern Parenting and Retirement in an Era of Longevity" (Published August 2025)[https://www.tiaa.org/content/dam/tiaa/institute/pdf/research-brief/2025-08/tiaa-institute-modern-parenting-impact-on-retirement-voee-goodman-august-2025.pdf](https://www.tiaa.org/content/dam/tiaa/institute/pdf/research-brief/2025-08/tiaa-institute-modern-parenting-impact-on-retirement-voee-goodman-august-2025.pdf) 2. Sallie Mae & Ipsos: "How America Pays for College" (Published 2024/2025)[https://www.salliemae.com/content/dam/slm/writtencontent/Research/HAP\_2024.pdf](https://www.salliemae.com/content/dam/slm/writtencontent/Research/HAP_2024.pdf) Prior to making a commitment to any 529 savings plan, it's crucial to assess whether benefits specific to your, or the intended recipient's, state of residence are available. These state-specific advantages, which may include deductions or credits on state taxes, financial aid eligibility, scholarship opportunities, and safeguards against creditors, could significantly impact your decision if they are only accessible through investing in your home state's 529 plan. For a comprehensive understanding of how these state-specific perks—or their restrictions—might impact your unique situation, it's advisable to seek guidance from a finance, tax, or legal professional. Furthermore, it's a good idea to directly reach out to your own state’'s 529 plans, or explore other state plans, to gather information about their individual offerings, advantages, and limitations. Remember, the availability of state-level benefits is just one of several factors to weigh carefully as you plan your investment strategy. Investing in a 529 plan involves buying municipal securities, the value of which will fluctuate based on market trends. There is no guarantee of returns, and investing in a 529 plan entails the risk of losing money. Account owners assume all investment risks as well as responsibility for any federal and state tax consequences Management of a 529 plan account is in the hands of the account holder. Contributions to such accounts could trigger gift-tax or other tax ramifications. To fully understand these potential impacts, consulting with a tax advisor is strongly recommended. --- # About Us: Employer Student Loan & 529 Benefits URL: https://meetpaidly.com/about-us Description: Paidly empowers employers with custom Student Loan Repayment and 529 benefits, plus community crowdfunding. Enhance recruitment and loyalty with our platform. About Us # Empowering Employers and Individuals to Conquer Student Debt Together Started in 2020 and incorporated in 2024, Paidly helps employers set up supplemental student loan and 529 benefits for their teams, while empowering individuals to tackle debt through community crowdfunding. ## A Small Team With Big Dreams We want to make things easier for both companies and individuals. Whether you are an employer offering student loan repayment and 529 benefits, or an individual using community crowdfunding to tackle debt on your own, Paidly gives you the right tools. Employees can even combine their employer's benefits with personal crowdfunding to pay down debt and plan for the future even faster. Our team has spent over 15 years in fintech. We took that experience and built a simple platform that lets companies launch a student loan benefit program in minutes. Best of all, we did it without requiring any messy HRIS integrations. This means employers can easily attract top talent, boost team morale, and invest directly in their people's education. Headquarters Rochester, New York \+ many remote Core Values ## The Standards by Which We Run Our Company The values we live and work by, they hold us accountable to be the very best company we can be for our customers. ### Empathy Perceive and relate to our customers, student loans are a real issue that effects everyone differently. Respond and react always with compassion. ### Win (or Lose) Together There is no one to blame, we are all in this together. Create fearlessly, move fast. When we fail, we learn, adjust and try again. ### Be Customer-Obsessed We're all about real customer service, no matter what role we're in. We go above and beyond for our customers, we're nothing without them. ### Pause on Principle Take an intentional step back to gain fresh perspective. We reflect and deliberate before making major decisions so we can lead with clarity and impact. ### Live to Learn Learning leads to new opportunities, it changes things, it allows us to teach others, it drives our commitment and the constant pursuit of improvement. ## Ready to Eliminate Student Debt? Whether you're an employer building a modern benefits package or an individual ready to crowdfund your payoff, Paidly is your platform. [Get Started for Free](https://app.meetpaidly.com/get-started)[Talk to an Expert](/contact-sales) --- # Advertiser Disclosure URL: https://meetpaidly.com/advertiser-disclosure Description: Review Paidly's advertiser disclosure. Learn about our policies, transparency standards, and procedures regarding our partnerships with lenders. # Advertiser Disclosure. _Last updated on March 16, 2026_ Our employee benefits and financial wellness platform may include integrations, referrals, or links to third-party lenders, financial institutions, and service providers (such as student loan refinancing partners). If an employer or their employees choose to engage with a partner or lender through our platform, Paidly may receive referral compensation. In many cases, these partnerships also allow us to secure discounted rates or exclusive benefits for our users. The amount of compensation we receive can vary depending on the partner or product type. This compensation model helps us maintain, improve, and provide our technology at a highly competitive cost to employers and their workforce. However, it does not affect the core functionality of our benefits administration technology or the integrity of the tools and resources we provide. Employers and employees are under no obligation to use any lender or service provider we feature, and alternative terms may be available through other outside sources. Paidly is not a lender, debt relief company, loan broker, investment adviser, or provider of legal, tax, or accounting services. Our platform and related resources are provided for informational, educational, and benefit administration purposes only. --- # Partner Program for Benefit Professionals & Brokers URL: https://meetpaidly.com/benefit-professionals Description: Partner with Paidly to deliver impactful Student Loan Repayment and 529 benefits. Explore our dashboard and dedicated support for brokers. Benefit Professionals # Help Your Clients Do Student Loan Assistance Right Modernize your student loan repayment benefits with our tools and resources. Empower your clients to attract and retain top talent. Let's get started ## Student Loan Assistance Your Clients Will Love Provide a benefit that makes a measurable difference in your clients' financial future while simplifying their administration. ### Easy Admin Manage your client accounts with ease and simplicity through our intuitive dashboard. ### Quick Setup Get up and running in no time with our streamlined onboarding process. ### Affordable Plans Flexible pricing models designed to scale with your clients' needs. For Brokers ## Streamlining Success with Connected Info Stay in the fast lane — access complete, precise, and instant information about your clients. This effortless connectivity helps keep your business ahead of the competition. An Essential Asset ## We're Here for Your Clients At Paidly, we understand the significance of trust in client relationships. We equip you with extensive resources and expertise to confidently address your clients' Student Loan Repayment Benefit concerns. ## Let's Work Together With your expertise as a Benefits Professional, let's join forces to create beneficial student loan plans that make a real difference for your clients. First Name \* Last Name \* Email Address \* Phone Number \* State \*Enter your stateAlabamaAlaskaArizonaArkansasCaliforniaColoradoConnecticutDelawareFloridaGeorgiaHawaiiIdahoIllinoisIndianaIowaKansasKentuckyLouisianaMaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew HampshireNew JerseyNew MexicoNew YorkNorth CarolinaNorth DakotaOhioOklahomaOregonPennsylvaniaRhode IslandSouth CarolinaSouth DakotaTennesseeTexasUtahVermontVirginiaWashingtonWest VirginiaWisconsinWyoming Firm Name \* Principal Role \*Enter your principal roleFinancial AdvisorAccountant or BookkeeperBenefits ProfessionalOther Number of Clients \*Enter the number of clients you have1-1011-5051+ Collaborate Now --- # 4 Steps on how to ask your employer to repay Student Loans URL: https://meetpaidly.com/blog/4-steps-on-how-to-ask-your-employer-to-repay-student-loans Description: Get help paying off student loans from your employer. Our guide shows you how to convince them. Take control of your finances. [Home](/ "Home")[Blog](/blog "Blog")[For Individuals](/blog/category/individuals "For Individuals")4 Steps on how to ask your employer to repay Student Loans # How to Ask Your Employer for a Student Loan Repayment Benefit: A Step-by-Step Guide Get the Support You Need to Pay Off Your Student Loans: A Step-by-Step Guide to Asking Your Employer for a Tax-Free Repayment Benefit [](/blog/author/team-paidly) [Team Paidly](/blog/author/team-paidly) Updated: Jul 14, 20258 min read [](https://www.facebook.com/sharer/sharer.php?u=https://meetpaidly.com/blog/4-steps-on-how-to-ask-your-employer-to-repay-student-loans "Share to Facebook") [](https://twitter.com/intent/tweet/?text=How%20to%20Ask%20Your%20Employer%20for%20a%20Student%20Loan%20Repayment%20Benefit%3A%20A%20Step-by-Step%20Guide&url=https://meetpaidly.com/blog/4-steps-on-how-to-ask-your-employer-to-repay-student-loans "Share to Twitter") [](https://www.linkedin.com/sharing/share-offsite/?url=https://meetpaidly.com/blog/4-steps-on-how-to-ask-your-employer-to-repay-student-loans "Share to Linkedin") [](mailto:?Subject=How%20to%20Ask%20Your%20Employer%20for%20a%20Student%20Loan%20Repayment%20Benefit%3A%20A%20Step-by-Step%20Guide&Body=Check%20this%20out%21%0Ahttps%3A%2F%2Fhttps://meetpaidly.com/blog/4-steps-on-how-to-ask-your-employer-to-repay-student-loans "Share to Email") ## Key Takeaways - **Understand the basics** and research your company's stance on student loan repayment benefits: Know what a student loan repayment benefit is, how it works, and research your employer's current offerings and industry standards. - **Build a strong case for the benefit** by showcasing its value for both employees and the company: Highlight the benefits of offering a student loan repayment program, such as attracting and retaining top talent, improving employee retention, and encouraging participation in retirement plans. - **Explore alternative options** and be prepared to negotiate: If your employer isn't currently interested in offering a student loan repayment benefit, investigate other possibilities within their existing benefits packages or suggest alternatives that could provide similar support. * * * No matter how you feel about the student loan debt crisis, it's a big problem that isn't going away. In fact, student loans have become an enormous problem for many young professionals. In fact, it's not uncommon for new graduates to leave college with more than $100,000 worth of student loans. That's a huge amount of money that can keep you from being able to afford things like buying your first home or starting a family. Of course, this is where employers come in, they're going to be providing health insurance and retirement benefits for you as long as you work at their company—so why shouldn't they also help with your student loans? If your company doesn't offer a repayment benefit that helps employees pay back their student loans (like paying a small percentage), then this guide will show you how to convince them that offering one would be good, not just for employees, but also for the business itself. ## Step 1: Know the basics Before you reach out to your employer, it's important to understand what a student loan repayment benefit is and how it works. It’s also a good idea to build a case for the benefit to show the value to the employee and the company. The first thing to know is that not all companies offer this kind of benefit. If yours does, great! If not, there are still ways you can get help paying off your loans, so don't give up hope just yet! [A student loan repayment benefit allows an employee, with qualifying loans, to receive supplemental payments from their employer](/employer). To clarify, these employer payments are “supplemental” payments. [The employee must continue to make their monthly student loan payment.](/blog/how-does-student-loan-interest-work) Read about the different types of [student loan repayment benefits](/blog/benefits-of-workplace-student-loan-assistance) on our blog post. it’s important to understand the options before you propose the idea of a benefit. ## Step 2: Research to determine whether your employer would consider this type of benefit. - **Talk to your manager.** Your first step should always be talking with your boss, who will be able to tell you whether the company would even consider this kind of benefit. - **Check HR's website or benefits page.** If they don't mention student loan repayment in their current offerings, ask why that is and if there's any chance it could be added sometime soon (or even retroactively). They may also have suggestions from other companies that offer similar benefits and if so, those can be great places for you to look next! - **Look at industry standards for benefits packages**: In general and see where your company stands compared with others in the same field; then compare its offerings against those at other companies within the same field or industry space as well as outside of it (if applicable). ## Step 3: Make a case for this Student Loan repayment benefit It's time to convince them that it will help their business by creating a case. Here are some of the reasons: - **Attracting and retaining talent**: Student loan repayment is becoming an increasingly competitive benefit among employers, especially for younger workers who are saddled with debt and looking for ways to manage their finances. Offering this benefit can help attract top talent and keep them happy at work. A happy employee can be more productive than one who isn't getting what they need out of their job (or feels stuck in a rut). - **Employee retention**: Many people leave their jobs because they can't afford to stay financially stable while working there anymore. If your company offers student loan repayment benefits, then employees may feel more secure about staying on board longer term. - **Ability to contribute to retirement**: an un-indebted employee might be able to contribute 10% to a plan and earn 5% employer match for a total of 15%, an employee with student loan debt may only be able to get the 5% match and unable to participant in company 401(k) plans until much later in their career. ## Step 4: If the company can't offer the exact benefit you want, maybe they'll entertain other ideas. If a student loan repayment benefit isn't on their radar, but they have an employee assistance program (EAP), see if there's anything similar in it. You might be able to negotiate for something like that instead of asking for something brand new and different. It's also worth noting here that just because your employer isn't offering a student loan repayment benefit doesn't mean it won't ever happen, it just means that right now isn't the right time for them to do so. Perhaps if enough employees express interest in such a benefit, management will reconsider their position over time and decide to implement one at some point in the future! ## Keep in mind that you're asking your employer for something that would change their business model and cost them money. Employers may not be as likely to pay for something that they can't see value in or that they feel will not help grow the business. That said, there are some benefits an employer can get from offering this kind of benefit: - It makes the company more competitive when recruiting top talent (especially if other companies have similar programs). - [It helps attract employees who value education over salary and those people are more likely to stay with your company long term.](/blog/benefits-of-workplace-student-loan-assistance) - It can be a [tax-free benefit up to $5,250](/tax-free) a year under the CARES Act. - [Unused Paid Time Off (PTO) or PTO Buyback](/bonus-pto-conversion) as well as bonuses can be redirected to employees student loans to help fund this benefit. It can help retain valuable employees who are considering leaving for other companies. It's a way to show your employees that you care about them and their success. ## They may not be able to give you everything you want on day one, but they may be willing to work with you to create a new benefit. Answering some of the basic questions around the Student Loan Repayment benefit will help your company gain a better understanding of the benefit. They can use the general information that you share to do some research of their own. Paidly offers the following options that scale to the business: - **3 types of Student Loan Repayment benefits:** - [Recurring - monthly](/employer) - $250 one-time set up fee per company per benefit. - Starter Plan: $7 per user per benefit when enrolling up to 25 employees - Professional Plan: $6 per user per benefit when enrolling up to 26-100 employees - Enterprise Plan: customized pricing for over 100 users (unlimited users) - [On-demand](/on-demand) - one-time payment on company’s schedule - [Bonus/PTO Conversion](/bonus-pto-conversion) \- converting a bonus or “leftover” PTO into a student loan repayment benefit - **What are the benefits to Employees:** - Debt-free future - Reduce loan payback & interest dollars - Reduce financial stress & distraction - Increase energy & resources for building new skills and careers - Improve financial preparedness for retirement - Supplemental, tax-free monthly payments towards employee student loans - **What are the benefits to the Employer:** - Become an employer of choice - Maintain a competitive advantage in a tight labor market - Offer cultural & employee benefit differentiation - Enhance recruitment efficiency - increase the talent pool for a particular specialty - Enhance employee retention - reduce turnover for experienced employees - Improve the financial wellness of employees beyond retirement benefits - reduce financial stress on current/future workforce - Improved employee productivity through stress reduction due to student loan debt #### Create an informed employee retention strategy See what your return on investment could look like when offering a Student Loan Repayment Benefit [See your return](/calculators/employer-student-loan-repayment-roi-calculator) ## This is an employee-driven benefit, so it's up to employees like you to convince HR that it's a good idea. It's important that you come prepared with all the information you've gathered. Present the information in an organized manner and make sure they can easily access it. Include details about the ROI the company can gain by offering this benefit, as well as how much time and money you will save by repaying your loans sooner. You may also want to include: - Some key points around the CARES Act and the [tax-free possibilities of this benefit](https://meetpaidly.com/tax-free). ## You got this Asking your employer for a student loan repayment benefit might seem like a tall order, but it's not impossible. You just need to know where to start and how best to communicate with HR. The most important thing is that you have a plan in place before making any contact with your company.! #### Table of Contents - #### Let's Talk Repayment Benefits Talk to one of our team of experts that will answer any questions [Talk to an Expert](/contact-sales) [](/blog/author/team-paidly) #### [Team Paidly](/blog/author/team-paidly) Paidly is the go-to platform for rising above student debt. We specialize in innovative solutions, such as employer student loan assistance benefits, streamlined 529 plan contributions, and crowdfunding tools for individuals and their families. Backed by nearly two decades of experience in financial technology, Paidly is committed to simplifying student loan repayment, reducing loan dependency, and empowering students to take control of their finances no matter where they are in their educational journey. [](https://www.linkedin.com/company/meetpaidly/ "LinkedIn")[](https://www.facebook.com/meetpaidly "Facebook")[](https://www.instagram.com/meetpaidly/ "Instagram")[](https://twitter.com/meetpaidly "Twitter")[](https://www.youtube.com/@paidly "YouTube")[](https://www.tiktok.com/@meetpaidly "TikTok") #### Stay Ahead of the Curve Get the latest insights on student loan repayment, 529 contributions, and maximizing employer benefits delivered to your inbox. Join the list By submitting your email, you agree to receive emails from Paidly and acknowledge that you can unsubscribe at any time. * * * The information provided is of a general nature and an educational resource. It is not intended to provide advice or address the situation of any particular individual or entity. Any recipient shall be responsible for the use to which it puts this document. Paidly shall have no liability for the information provided. While care has been taken to produce this document, Paidly does not warrant, represent or guarantee the completeness, accuracy, adequacy, or fitness with respect to the information contained in this document. The information provided does not reflect new circumstances, or additional regulatory and legal changes. The issues addressed may have legal, financial, and health implications, and we recommend you speak to your legal, financial, and health advisors before acting on any of the information provided. ### You may also like [Founder's Notes](/blog/category/founders-notes) 5 min read ## [The HR Guide to Using Your Entire Education Budget](/blog/the-hr-guide-to-using-your-entire-education-budget) Your education budget can do a lot more than just pay for tuition. Learn how adding student loan repayment can expand your benefits without expanding your budget. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) Aug 26, 2026 [For Individuals](/blog/category/individuals) 4 min read ## [Education Benefits You Should Know About](/blog/education-benefits-you-should-know-about) Education benefits like 529 savings, tuition reimbursement, and student loan repayment can help you reduce education costs during every stage of your career. [](/blog/author/team-paidly)[Team Paidly](/blog/author/team-paidly) Aug 07, 2026 [For Individuals](/blog/category/individuals) 5 min read ## [ABLE Accounts and 529 Plans: A Flexible Savings Strategy](/blog/what-is-an-able-account-529a) Learn how 529 plans and ABLE accounts work together to make your savings even more supportive. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Jul 22, 2026 --- # The 50-30-20 Rule for Student Loan Repayment? URL: https://meetpaidly.com/blog/50-30-20-rule-budget-out-of-student-loan-debt Description: Discover the 50-30-20 budget for student loan repayment: essentials, goals, and life, with employer aid. [Home](/ "Home")[Blog](/blog "Blog")[For Individuals](/blog/category/individuals "For Individuals")The 50-30-20 Rule for Student Loan Repayment? # The 50-30-20 Rule: How to Budget Your Way Out of Student Loan Debt Discover how the 50/30/20 rule can be your ally in mastering student loan repayments without the stress. [](/blog/author/team-paidly) [Team Paidly](/blog/author/team-paidly) Updated: Jul 30, 20246 min read [](https://www.facebook.com/sharer/sharer.php?u=https://meetpaidly.com/blog/50-30-20-rule-budget-out-of-student-loan-debt "Share to Facebook") [](https://twitter.com/intent/tweet/?text=The%2050-30-20%20Rule%3A%20How%20to%20Budget%20Your%20Way%20Out%20of%20Student%20Loan%20Debt&url=https://meetpaidly.com/blog/50-30-20-rule-budget-out-of-student-loan-debt "Share to Twitter") [](https://www.linkedin.com/sharing/share-offsite/?url=https://meetpaidly.com/blog/50-30-20-rule-budget-out-of-student-loan-debt "Share to Linkedin") [](mailto:?Subject=The%2050-30-20%20Rule%3A%20How%20to%20Budget%20Your%20Way%20Out%20of%20Student%20Loan%20Debt&Body=Check%20this%20out%21%0Ahttps%3A%2F%2Fhttps://meetpaidly.com/blog/50-30-20-rule-budget-out-of-student-loan-debt "Share to Email") ## Key Takeaways - The 50-30-20 budgeting rule allocates 50% for essentials, 30% for discretionary spending, and 20% for savings/debt repayment - ideal for managing student loans. - Employer student loan repayment assistance programs help employees pay off debt faster by contributing directly to their outstanding student loans. - Combining the 50-30-20 rule with an employer's student loan repayment benefit maximizes monthly payments towards eliminating student debt quickly. - Budgeting effectively and leveraging employer benefits are key strategies for recent graduates to tackle daunting student loan balances responsibly. * * * When it comes to determining how much you should spend on rent, rigid rules like the 30% or 50/30/20 budget may not always be the best approach, as personal circumstances and priorities can vary significantly. ## What is the 50/30/20 Budgeting Rule? The 50/30/20 rule is a popular budgeting strategy that divides your after-tax income into three categories: 50% for essentials or needs, 30% for discretionary spending or wants, and 20% for savings and debt repayment. ### Essentials (50%): - Rent or mortgage payments - Utilities (electricity, water, gas) - Groceries - Transportation costs (gas, car payments, insurance) - Minimum debt payments ### Discretionary Spending (30%): - Dining out - Entertainment (movies, concerts, subscriptions) - Vacations - Hobbies and leisure activities - Personal care (haircuts, gym memberships) ### Savings and Debt Repayment (20%): - Emergency fund contributions - Retirement account contributions - Extra debt payments (credit cards, student loans) - Investments The 50/30/20 rule aims to strike a balance between essential expenses, discretionary spending, and saving or paying down debt. It provides a simple framework for allocating your income and can be adjusted based on individual circumstances. ## The Origins and Popularity of the 50/30/20 Rule The 50/30/20 budgeting rule gained popularity after its introduction in the 2005 book "[All Your Worth: The Ultimate Lifetime Money Plan](https://www.amazon.com/All-Your-Worth-Ultimate-Lifetime/dp/0743269888)" by Senator Elizabeth Warren and her daughter Amelia Warren Tyagi. The rule provides a straightforward framework for allocating one's income: 50% towards necessities like housing, food, and utilities, 30% towards discretionary spending or "wants," and 20% towards savings and debt repayment. The simplicity of the 50/30/20 rule has made it an appealing budgeting strategy, especially for those new to financial planning. Its proponents argue that it offers a balanced approach, ensuring that essential expenses are covered while allowing room for enjoyment and future savings. However, critics contend that the rigid percentages may not suit everyone's unique circumstances, particularly those with [high housing costs or significant debt burdens](https://www.britannica.com/money/what-is-the-50-30-20-rule). ## Applying the 50/30/20 Rule to Student Loan Repayments The 50/30/20 budgeting rule is a popular framework for managing finances, allocating 50% of your income towards essential needs, 30% towards discretionary wants, and 20% towards savings and debt repayment. When it comes to student loan repayments, the 30% portion can be a useful guideline. Are extra payments worth it? Let's find out. [Check My Savings](/calculators/student-loan-benefit-calculator) According to [CollegeAve.com](https://www.collegeave.com/articles/50-30-20-budget-rule/), the 30% category is meant for flexible spending on non-essential items like dining out, entertainment, and other discretionary expenses. However, this portion can also be allocated towards paying off debts, including student loans. One strategy is to prioritize student loan repayments within the 30% portion, potentially allocating the entire 30% towards loan payments. This approach can help you make significant progress in reducing your student loan burden, especially if you have a higher income or can temporarily minimize discretionary spending. Additionally, [USNews.com](https://money.usnews.com/loans/student-loans/articles/how-much-of-my-monthly-budget-should-go-to-student-loans) suggests that a monthly student loan payment exceeding 10% of your income could be considered a financial burden. By allocating more towards student loans, you can potentially make meaningful progress towards becoming debt-free and save on interest. ## When the 50/30/20 Rule May Not Work The 50/30/20 budget rule is a useful guideline, but it may not be the best approach for everyone's unique financial situation. As [Fool.com](https://www.fool.com/the-ascent/banks/articles/5-problems-503020-budget/) points out, this rule can be problematic for those with high housing costs, significant debt, or low income levels. For instance, if you live in an area with a high cost of living, allocating only 50% of your income to necessities like rent, utilities, and transportation may not be feasible. In such cases, you might need to adjust the percentages to accommodate higher housing expenses. Similarly, if you have a low income or are burdened with substantial debt, strictly adhering to the 30% limit for discretionary spending and the 20% savings target may be unrealistic. You may need to temporarily prioritize debt repayment or essential living expenses over saving or discretionary purchases. The 50/30/20 rule is a general guideline, and it's essential to tailor it to your specific circumstances. Adjustments may be necessary based on your income level, debt obligations, cost of living, and financial goals. Flexibility and adaptation are key to creating a sustainable budget that works for your unique situation. ### What is the 50/30/20 rule with Student Loan Payments Student loan payments would typically fall under the "Essentials" category in the 50/30/20 budgeting framework, along with other necessary expenses like rent, groceries, and utilities. This means that a significant portion of the 50% allocated for essentials may need to go towards student loan payments, leaving less for other essential costs. According to [NerdWallet](https://www.nerdwallet.com/article/finance/nerdwallet-budget-calculator), "The 50% category covers needs like housing, groceries, utilities, transportation, insurance and minimum loan payments." This highlights that student loan payments are considered a need and should be prioritized within the essentials category. For those with substantial student loan debt, this can significantly impact the remaining percentages for wants (30%) and savings (20%). In such cases, one may need to adjust the percentages to allocate a higher portion towards essentials, reducing the wants and savings categories temporarily until the loans are paid off or the burden is reduced. Employer student loan repayment assistance programs, like Paidly, can be incredibly helpful in this situation. These programs provide a means for employers to contribute towards their employees' student loan payments, effectively reducing the monthly out-of-pocket cost for the employee. This can free up more of the essentials budget for other necessary expenses, or even allow for a higher allocation towards wants and savings while still making progress on loan repayment. ## Student Loan Repayment Benefits with Paidly While the 50/30/20 rule offers a simple budgeting heuristic, it fails to address the nuanced financial situations everyone faces. By establishing a personalized budget that reflects your financial reality and goals, you can make informed decisions about renting that support your overall financial wellbeing. Considering employer student loan repayment benefits as a way to adjust your budget? This could be a strategic move to reduce monthly expenses, allowing a better allocation towards rent or savings. An individual's journey to managing finances might be complex, but with the right approach, finding a balance that accommodates a comfortable living situation becomes achievable. Paidly allows employers to contribute up to [$5,250 per year tax-free towards their employees' student loans](https://meetpaidly.com/tax-free) as a supplemental benefit. By taking advantage of this employer student loan repayment assistance, you can effectively increase your discretionary income and savings rate without having to make major lifestyle changes. It's a win-win for employees looking to get out of debt faster while maintaining their current standard of living. #### Table of Contents - #### Let's Talk Repayment Benefits Talk to one of our team of experts that will answer any questions [Talk to an Expert](/contact-sales) [](/blog/author/team-paidly) #### [Team Paidly](/blog/author/team-paidly) Paidly is the go-to platform for rising above student debt. We specialize in innovative solutions, such as employer student loan assistance benefits, streamlined 529 plan contributions, and crowdfunding tools for individuals and their families. Backed by nearly two decades of experience in financial technology, Paidly is committed to simplifying student loan repayment, reducing loan dependency, and empowering students to take control of their finances no matter where they are in their educational journey. [](https://www.linkedin.com/company/meetpaidly/ "LinkedIn")[](https://www.facebook.com/meetpaidly "Facebook")[](https://www.instagram.com/meetpaidly/ "Instagram")[](https://twitter.com/meetpaidly "Twitter")[](https://www.youtube.com/@paidly "YouTube")[](https://www.tiktok.com/@meetpaidly "TikTok") #### Stay Ahead of the Curve Get the latest insights on student loan repayment, 529 contributions, and maximizing employer benefits delivered to your inbox. Join the list By submitting your email, you agree to receive emails from Paidly and acknowledge that you can unsubscribe at any time. * * * The information provided is of a general nature and an educational resource. It is not intended to provide advice or address the situation of any particular individual or entity. Any recipient shall be responsible for the use to which it puts this document. Paidly shall have no liability for the information provided. While care has been taken to produce this document, Paidly does not warrant, represent or guarantee the completeness, accuracy, adequacy, or fitness with respect to the information contained in this document. The information provided does not reflect new circumstances, or additional regulatory and legal changes. The issues addressed may have legal, financial, and health implications, and we recommend you speak to your legal, financial, and health advisors before acting on any of the information provided. ### You may also like [Founder's Notes](/blog/category/founders-notes) 5 min read ## [The HR Guide to Using Your Entire Education Budget](/blog/the-hr-guide-to-using-your-entire-education-budget) Your education budget can do a lot more than just pay for tuition. Learn how adding student loan repayment can expand your benefits without expanding your budget. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) Aug 26, 2026 [For Individuals](/blog/category/individuals) 4 min read ## [Education Benefits You Should Know About](/blog/education-benefits-you-should-know-about) Education benefits like 529 savings, tuition reimbursement, and student loan repayment can help you reduce education costs during every stage of your career. [](/blog/author/team-paidly)[Team Paidly](/blog/author/team-paidly) Aug 07, 2026 [For Individuals](/blog/category/individuals) 5 min read ## [ABLE Accounts and 529 Plans: A Flexible Savings Strategy](/blog/what-is-an-able-account-529a) Learn how 529 plans and ABLE accounts work together to make your savings even more supportive. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Jul 22, 2026 --- # Boost Diversity and Inclusion with Student Loan Repayment Benefits URL: https://meetpaidly.com/blog/advancing-diversity-inclusion-student-loan-benefits Description: Explore how student loan repayment benefits enhance diversity, inclusion, and foster an empowering work culture. [Home](/ "Home")[Blog](/blog "Blog")[For Employers](/blog/category/employers "For Employers")Boost Diversity and Inclusion with Student Loan Repayment Benefits # Advancing Diversity and Inclusion: How Student Loan Repayment Benefits Make a Difference Transform diversity and inclusion in your organization with the power of student loan repayment benefits. [](/blog/author/john-scully) [John Scully, CEO](/blog/author/john-scully) Feb 01, 20243 min read [](https://www.facebook.com/sharer/sharer.php?u=https://meetpaidly.com/blog/advancing-diversity-inclusion-student-loan-benefits "Share to Facebook") [](https://twitter.com/intent/tweet/?text=Advancing%20Diversity%20and%20Inclusion%3A%20How%20Student%20Loan%20Repayment%20Benefits%20Make%20a%20Difference&url=https://meetpaidly.com/blog/advancing-diversity-inclusion-student-loan-benefits "Share to Twitter") [](https://www.linkedin.com/sharing/share-offsite/?url=https://meetpaidly.com/blog/advancing-diversity-inclusion-student-loan-benefits "Share to Linkedin") [](mailto:?Subject=Advancing%20Diversity%20and%20Inclusion%3A%20How%20Student%20Loan%20Repayment%20Benefits%20Make%20a%20Difference&Body=Check%20this%20out%21%0Ahttps%3A%2F%2Fhttps://meetpaidly.com/blog/advancing-diversity-inclusion-student-loan-benefits "Share to Email") ## Key Takeaways - **Student Loan Repayment Benefits Address Financial Inequality:** Offering these benefits can help alleviate the disproportionate financial burden that student debt places on marginalized communities, fostering a more diverse and inclusive workplace. - **Attract and Retain Diverse Talent:** By offering such benefits, you not only create a compelling employee value proposition but also provide a concrete way of supporting employees' financial needs, thereby attracting and retaining diverse talent in a competitive job market. - **Promote an Inclusive Company Culture:** Providing student loan repayment benefits sends a potent message about the organization's commitment to inclusion, creating a work environment where individuals from all backgrounds feel valued, supported, and empowered. - **Contribute to Social Equity:** By acknowledging and addressing the systemic financial challenges faced by many individuals, corporations can play a significant role in larger societal progress, fostering diversity, and breaking down systemic barriers. * * * In today's modern and inclusive workplaces, organizations are relentlessly striving to foster environments that prioritize diversity and inclusion. By embracing innovative and forward-thinking solutions, employers can create an empowered workforce that is representative of all backgrounds and experiences. One such solution that is gaining traction is the inclusion of student loan repayment as an employee benefit. In this article, we will explore how offering student loan repayment benefits can contribute to fostering diversity and inclusion. ## Addressing Financial Inequality: The Impact of Student Loan Debt Student loan debt is a significant barrier to financial freedom, and its impact is particularly pronounced among marginalized communities. By offering student loan repayment benefits, organizations can actively address the persistent financial inequality that disproportionately affects certain groups. This benefit acknowledges the unique challenges faced by employees from diverse backgrounds and offers necessary support to pave the way for success. ## Enhancing Access and Opportunity through Student Loan Repayment Benefits Moreover, offering student loan repayment benefits enhances access and opportunity for individuals burdened by student loan debt. This alleviation of financial pressure empowers employees to pursue their career aspirations without limitations. By removing this barrier, organizations ensure that diverse talent has an equal chance to succeed and contribute to their success. ## Attracting and Retaining Diverse Talent: The Role of Benefits Attracting and retaining diverse talent is crucial in today's competitive job market. By offering student loan repayment benefits, organizations create a compelling employer value proposition that sets them apart from competitors. This benefit is highly valued by young professionals, who often prioritize it when considering employers. By showcasing a commitment to employees' financial well-being, organizations can attract a diverse talent pool and retain employees who feel supported and valued. ## Promoting Inclusive Culture by Supporting Financial Well-being Implementing student loan repayment benefits also sends a powerful message about an organization's commitment to inclusion. It demonstrates an understanding of the unique financial challenges faced by different groups and shows that the organization is actively working to support their well-being. This commitment helps create an inclusive culture where all employees feel valued, supported, and empowered to bring their authentic selves to work. ## Building Social Equity: Breaking Down Systems with Student Loan Repayment Benefits Furthermore, by offering student loan repayment benefits, organizations play a crucial role in building social equity and breaking down systemic barriers. This proactive step helps individuals overcome the hurdles that prevent them from realizing their true potential. Fostering an environment where diversity and inclusion are prioritized not only benefits the organization itself but also contributes to societal progress. ## Advancing Diversity and Inclusion with Student Loan Repayment Benefits Offering student loan repayment benefits is an impactful means of advancing diversity and inclusion within organizations. By addressing financial inequality, enhancing access and opportunity, attracting diverse talent, promoting an inclusive culture, and building social equity, organizations pave the way for a brighter future. By making a commitment to student loan repayment benefits, organizations can create an empowering and supportive environment where all employees have equal opportunities to thrive and contribute their unique perspectives. Let's work together to build inclusive workplaces where every employee feels valued and empowered to reach their full potential. #### Table of Contents - #### Let's Talk Repayment Benefits Talk to one of our team of experts that will answer any questions [Talk to an Expert](/contact-sales) [](/blog/author/john-scully) #### [John Scully, CEO](/blog/author/john-scully) John Scully is a seasoned executive leader with a strong background in business operations and technology. As Co-Founder of Paidly Student Loan Benefits, he empowers employers to enhance talent recruitment and retention through a cloud-based platform that allows tax-free student loan payments. With experience in industries like healthcare and fintech, John has held leadership positions at companies such as Sharp Notions and the University of Rochester Medical Center. Holding an MBA from the University of Rochester and a B.S. from Excelsior College, John is dedicated to helping organizations and individuals navigate the complexities of Fintech, especially student loan payments. [](https://www.linkedin.com/in/johnscully282/ "LinkedIn") #### Stay Ahead of the Curve Get the latest insights on student loan repayment, 529 contributions, and maximizing employer benefits delivered to your inbox. Join the list By submitting your email, you agree to receive emails from Paidly and acknowledge that you can unsubscribe at any time. * * * The information provided is of a general nature and an educational resource. It is not intended to provide advice or address the situation of any particular individual or entity. Any recipient shall be responsible for the use to which it puts this document. Paidly shall have no liability for the information provided. While care has been taken to produce this document, Paidly does not warrant, represent or guarantee the completeness, accuracy, adequacy, or fitness with respect to the information contained in this document. The information provided does not reflect new circumstances, or additional regulatory and legal changes. The issues addressed may have legal, financial, and health implications, and we recommend you speak to your legal, financial, and health advisors before acting on any of the information provided. ### You may also like [Founder's Notes](/blog/category/founders-notes) 5 min read ## [The HR Guide to Using Your Entire Education Budget](/blog/the-hr-guide-to-using-your-entire-education-budget) Your education budget can do a lot more than just pay for tuition. Learn how adding student loan repayment can expand your benefits without expanding your budget. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) Aug 26, 2026 [For Individuals](/blog/category/individuals) 4 min read ## [Education Benefits You Should Know About](/blog/education-benefits-you-should-know-about) Education benefits like 529 savings, tuition reimbursement, and student loan repayment can help you reduce education costs during every stage of your career. [](/blog/author/team-paidly)[Team Paidly](/blog/author/team-paidly) Aug 07, 2026 [For Individuals](/blog/category/individuals) 5 min read ## [ABLE Accounts and 529 Plans: A Flexible Savings Strategy](/blog/what-is-an-able-account-529a) Learn how 529 plans and ABLE accounts work together to make your savings even more supportive. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Jul 22, 2026 --- # What Public Service Workers Want Students to Know URL: https://meetpaidly.com/blog/advice-to-future-public-service-workers Description: Public service workers advise students to go to community college, build savings when possible, and weigh whether taking out loans is right for them. [Home](/ "Home")[Blog](/blog "Blog")[Borrower Experiences](/blog/category/borrower-experiences "Borrower Experiences")What Public Service Workers Want Students to Know # Debt vs. Service: Advice to Future Borrowers Public service workers recommend future borrowers go to community college, build savings when possible, and weigh whether taking out loans is right for them. [](/blog/author/samantha-park) [Samantha Park](/blog/author/samantha-park) Sep 30, 202411 min read [](https://www.facebook.com/sharer/sharer.php?u=https://meetpaidly.com/blog/advice-to-future-public-service-workers "Share to Facebook") [](https://twitter.com/intent/tweet/?text=Debt%20vs.%20Service%3A%20Advice%20to%20Future%20Borrowers&url=https://meetpaidly.com/blog/advice-to-future-public-service-workers "Share to Twitter") [](https://www.linkedin.com/sharing/share-offsite/?url=https://meetpaidly.com/blog/advice-to-future-public-service-workers "Share to Linkedin") [](mailto:?Subject=Debt%20vs.%20Service%3A%20Advice%20to%20Future%20Borrowers&Body=Check%20this%20out%21%0Ahttps%3A%2F%2Fhttps://meetpaidly.com/blog/advice-to-future-public-service-workers "Share to Email") ## Key Takeaways - **Start your higher education at a community college.** Community colleges offer flexible ways to earn college credits at a fraction of the cost. - **Budget and save before, during, and after pursuing a degree.** The fewer loans you have to take out, the less you have to pay back later. - **Pay off debt while still in school.** With Paidly’s free fundraising platform, others can help pay down your debt before you graduate. * * * Throughout [Debt vs. Service](/blog/student-loan-debt-draining-public-service-workers), we’ve looked at how student loan debt is affecting our nation’s [educators](/blog/teachers-struggle-under-student-loan-debt), [healthcare workers](/blog/student-debt-hurts-healthcare), and [nonprofit staff](/blog/student-debt-weighs-down-nonprofit-staff). Though many are passionate about their work, student loan debt negatively affected every person I spoke to, most having shaped their lives around paying it off. Fortunately, these public service workers shared their advice to future borrowers, which boiled down to this: minimize the amount of student loans you have to take out now to reduce how much debt you have to pay off later. ## The number one piece of advice: go to community college Nearly everyone I talked to told me the same thing: start your education at a community college. “I wish people had emphasized that it's okay to go to community college and get all your basic credits out of the way to save money,” wrote one teacher. “Saving money at community college and going to a state school is the best/cheapest path forward in my opinion.” Community colleges offer associates degrees and trade certificates that can be used to jumpstart a career or undergraduate degree program. They often have flexible learning options to cater to a diverse set of students with varying backgrounds, ages, and experiences. **“There’s no shame in going to community college,”** said Katie, an elementary school teacher who started her education at a local community college. “Save your money while you can.” ### Community college will save you big Starting your education at a community college is a cost effective way to earn college credits early in your schooling. On average, [annual tuition at community colleges come in under $4k, while tuition at four-year universities range from $11k to $41k](https://research.collegeboard.org/trends/college-pricing). Justine, a nonprofit development associate, told me, “I did a few classes at my local community college when I was in high school so I was able to go into a four-year university with a lot of college credits. That saved me a lot of money, which is helping the loan situation right now.” Like the one Justine attended, many community colleges offer dual-enrollment programs. These programs allow high school students to take college classes and use the credits both toward their high school diplomas and an undergraduate degree. ### Transferring credits to a four-year institution is easy “I'm always telling young people that are starting to think about college, ‘If you can, **do as much of your general education for cheap at a local community college and transfer!**’” said Hana, a former music therapist. “You don't have to pay for general ed at a premium.” Many community colleges have easy transfer systems with state universities so they’ll accept all general education credits (the classes everyone has to take regardless of degree program). When I transferred from a community college to a four-year institution, all my general education credits transferred with me so I could focus solely on classes for my major. ### Going to a community college will not hurt your job prospects “I highly recommend pursuing education within your financial means, because ultimately, **it does not matter where you get your degree from**,” wrote Tanti, who first earned her associates in public health from a community college before pursuing a degree in nursing from a state university. Starting out at a prestigious university may sound good, but they often come with hefty annual tuition rates which means higher loan payments down the line. Erin, a physical therapist, wrote, “My advice is don't go to the best school possible... Go to the cheapest. Because we all get hired for the same salary. I make the same amount as someone who paid way less for school.” ## Budget and save when you can The second most common piece of advice public service workers gave me was to save as much as you can before, during, and after taking out student loans. ### Consider postponing college to build savings One idea on how to minimize loan debt is to postpone pursuing higher education to build savings. Kourtney, who is currently going back to college, said, “I think that if I was younger and I was just going into school or graduating, I would not have went to school right away. I probably would’ve worked and waited and tried to save some money before then.” By using savings to help pay for school, students can take out fewer loans, meaning less to pay back later. ### If you’ll need a masters degree, look into five-year programs A teacher I talked to recommended taking advantage of combined bachelors-masters programs if they’re available. “Teachers make more based on having more education and most teachers get their masters while they're teaching if they don't have it already. I knew that to set myself up in the best way possible, I should go to a school that had one of those five-year programs.” Five-year programs are not just for teaching. Many universities offer various accelerated programs, which usually let students take graduate-level courses for undergraduate pricing - saving you time and money. ### Adjust your lifestyle to cut costs Saving while in school was brought up often amongst those I talked to. Justine told me, “Try to not use as much loan money as you can and support yourself in other ways if possible because the less you take out, the less you have to pay back. Working while you're in school helps, though it isn't possible for everybody.” Adjusting your lifestyle to accommodate payments will help you keep costs low. **“You gotta proportionalize your life to how much money you have coming in.”** said Hana. Multiple people advised living below your means and budgeting. “Start putting a little bit aside as you go through college,” Katie told me. “If you have the opportunity to say, ‘I could go out for pizza or I could put $5 in my savings account,’ save the money! If you have the opportunity to, go for it.” ## Consider whether taking on loans is right for you Perhaps the most crucial piece of advice was this: know what you’re getting into. Hana, who left the public service sector in 2020, warned students to “think twice” about whether their degree will be worth the debt. She earned a degree in music therapy, which is difficult to transfer to other careers. Her advice? **“Try to choose a degree that you can really leverage. Really think about, ‘Am I going to be able to pay this off?’ Be sure that you want to study this.”** Tanti, now a NICU nurse, was on track to complete her bachelor's degree debt-free through scholarships and grants when immigration issues put a pause on her education. Though she ended up having to take out loans, her advice is to look at all your options. **“There are so many ways you can get a degree completely paid for. Seek out those opportunities.”** ### Weigh the pros and cons Deciding whether or not to go to college is a huge life decision that shouldn’t be made lightly or on default. One person I spoke to told me, “You gotta sit down and weigh the pros and cons, break out the legal pad. You'll figure it out.” **“Consider your why,”** said Elizabeth. “Make sure that college is actually the best step for you in your life and know your reasons behind pursuing a degree. If college is the right fit for you, look at your options for lenders. Be smart with your money and make sure that you are making the best choices for you.” And if after weighing your options, you decide not to pursue college? “Know that you're capable of thinking of something else,” said Kourtney. “You can always pivot.” ### Financially educate yourself If you do choose to take out loans, make sure you’re thoroughly informed: - **Learn how interest works.** Over time, the amount you owe will increase due to interest. Make sure you understand [how student loan interest works](/blog/how-does-student-loan-interest-work) and what it could mean for your future payments. - **Avoid “sketchy” loans and student credit cards.** “Don't do that,” warned Kourtney. “If you want a credit card, look at credit unions in the area of the school or the area where you're from. Look for things that are going to be as low interest as possible and will actually help you build your credit instead of screwing it all up.” - **Read the fine print.** “Really pay attention. Read all of the information because sometimes there's stuff in there that you don't realize until after the fact,” said Katie. She advised going to loan repayment classes if offered. - **Figure out how to refinance later on.** “Consider refinancing for a better interest rate,” advised Elizabeth. “Through refinancing, I was able to save myself almost $40k in repayment due to interest.” _Want to go into teaching? Learn more about [what student loan options are available to teachers](/blog/teacher-student-loans-repayment)._ _Looking to be a nurse? Learn more about [what nurses can do to manage student loan debt](/blog/average-nursing-school-debt-repayment)._ ## Remember that student loans are meant to help, not hurt Though the conversation around student loans is often discouraging, remember what they’re intended for. Kourtney said taking out loans allowed her to have less financial strain while pursuing her degrees, a tradeoff she’s willing to make. “I had to weigh what was going to be more important this semester: not owing money or conserving my energy by not working so hard and taking out some loans. **For me, taking out loans is going to ultimately result in better grades. It's going to result in me being able to finish school faster.**” She attributes taking out loans to both getting her out of a toxic household soon after graduating from high school and allowing her to invest in herself as a person. Her advice? “Weigh your effort and overall investment. Decide whether or not these loans are going to help you achieve your goal faster.” ### You don’t have to take on student debt alone Elizabeth, a former educator, is still paying off student loans she took out a decade ago. She urges students to remember: “It's easy to get a student loan, it's not so easy to get rid of one.” Luckily, there are services available to student borrowers to help lighten the load. **“I have never heard anyone say student loans are fun, but companies like Paidly make it more manageable.”** [Paidly](/) offers student loan assistance services like [Friends Helping Friends](/friends-helping-friends), a personal fundraising platform for your student loan debt. It’s an easy way for loved ones to contribute toward your education at no cost to you. And even if you choose to defer your loan payments, you don’t have to wait until you graduate to start paying them off - let others help lower your student debt while you’re still earning your degree. Paying off your loans before they start to accrue interest can make a huge dent in what you owe, setting you up for future financial freedom. Friends Helping Friends Download our info sheet or read [our article](/blog/friends-help-reduce-student-debt) for more information on [Friends Helping Friends](/friends-helping-friends) [Download](https://cdn.meetpaidly.com/assets/pdf/Friends-Helping-Friends-Blog-Flyer.pdf) ## In the words of public service workers: you got this! Choosing to pursue higher education is an exciting and sometimes uncertain endeavor. Know that furthering your education will open doors and opportunities, so though taking out loans and studying for years can seem daunting, the public service workers that helped inform this series ultimately felt it was worth it. Careers in public service make our world better: smarter, healthier, safer, and more connected. Our communities need people like the educators, healthcare workers, and nonprofit staff I talked to over the last several weeks - and they need people like you, ready to make a difference. So if after weighing the pros and cons you decide to follow your passion and pursue a degree, take advice from the people who’ve been there: financially educate yourself, save money where you can, let others help out, and, as Tanti told me, **“Do not give up.”** _Thank you to everyone who generously shared their experiences with me. Quotes were lightly edited for clarity and names of interviewees were included in this article with permission._ #### Table of Contents - #### Let's Talk Repayment Benefits Talk to one of our team of experts that will answer any questions [Talk to an Expert](/contact-sales) [](/blog/author/samantha-park) #### [Samantha Park](/blog/author/samantha-park) Samantha Park is a writer with a background in public service work. She earned a M.S. in Professional Writing from Towson University where she focused on writing for the private and public sectors, and has previously graduated with an A.A. in Psychology from Anne Arundel Community College and a B.A. in Sociology from the University of Maryland College Park. Samantha has worked within and alongside the public sector for over a decade and cares deeply about empowering marginalized youth, expanding access to opportunity through education, and increasing community involvement. [](https://www.linkedin.com/in/samanthaparkyoung "LinkedIn") #### Stay Ahead of the Curve Get the latest insights on student loan repayment, 529 contributions, and maximizing employer benefits delivered to your inbox. Join the list By submitting your email, you agree to receive emails from Paidly and acknowledge that you can unsubscribe at any time. * * * The information provided is of a general nature and an educational resource. It is not intended to provide advice or address the situation of any particular individual or entity. Any recipient shall be responsible for the use to which it puts this document. Paidly shall have no liability for the information provided. While care has been taken to produce this document, Paidly does not warrant, represent or guarantee the completeness, accuracy, adequacy, or fitness with respect to the information contained in this document. The information provided does not reflect new circumstances, or additional regulatory and legal changes. The issues addressed may have legal, financial, and health implications, and we recommend you speak to your legal, financial, and health advisors before acting on any of the information provided. ### You may also like [Founder's Notes](/blog/category/founders-notes) 5 min read ## [The HR Guide to Using Your Entire Education Budget](/blog/the-hr-guide-to-using-your-entire-education-budget) Your education budget can do a lot more than just pay for tuition. Learn how adding student loan repayment can expand your benefits without expanding your budget. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) Aug 26, 2026 [For Individuals](/blog/category/individuals) 4 min read ## [Education Benefits You Should Know About](/blog/education-benefits-you-should-know-about) Education benefits like 529 savings, tuition reimbursement, and student loan repayment can help you reduce education costs during every stage of your career. [](/blog/author/team-paidly)[Team Paidly](/blog/author/team-paidly) Aug 07, 2026 [For Individuals](/blog/category/individuals) 5 min read ## [ABLE Accounts and 529 Plans: A Flexible Savings Strategy](/blog/what-is-an-able-account-529a) Learn how 529 plans and ABLE accounts work together to make your savings even more supportive. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Jul 22, 2026 --- # John Scully, CEO, Co-Founder, Author at Paidly Blog URL: https://meetpaidly.com/blog/author/john-scully Description: John Scully is a seasoned executive leader with a strong background in business operations and technology. As Co-Founder of Paidly Student Loan Benefits, he empowers employers to enhance talent recruitment and retention through a cloud-based platform that allows tax-free student loan payments. With experience in industries like healthcare and fintech, John has held leadership positions at companies such as Sharp Notions and the University of Rochester Medical Center. Holding an MBA from the University of Rochester and a B.S. from Excelsior College, John is dedicated to helping organizations and individuals navigate the complexities of Fintech, especially student loan payments. # John Scully, CEO John Scully is a seasoned executive leader with a unique blend of business operations and technology expertise. With a proven track record in software development and program management, John has successfully driven growth and achieved success in various industries, including healthcare and fintech. As the Co-Founder of Paidly Student Loan Benefits, John is at the forefront of empowering employers to enhance their talent recruitment and retention strategies through a cloud-based platform. By enabling employers to make potentially tax-free payments towards employee student loans, Paidly improves the financial wellness of employees and reduces productivity loss associated with unfilled positions, new employee onboarding, training, and recruitment. In addition to his role at Paidly, John has held leadership positions at companies such as Sharp Notions, LLC and the University of Rochester Medical Center, where he developed and implemented innovative project management strategies that supported business growth and success. John's expertise in managing project portfolios, fostering collaboration, and delivering exceptional customer service has made him a trusted authority in the industry. With a Master of Business Administration (MBA) from the University of Rochester - Simon Business School and a Bachelor of Science (B.S.) from Excelsior College, John combines his technical expertise with a deep understanding of business principles. He is also actively involved in volunteer work, supporting organizations like Greece Storm Lacrosse with event staffing, marketing, and consultation. John Scully's comprehensive knowledge and experience make him a valuable resource for employers and individuals seeking to navigate the complexities of Fintech especially student loan payments. Whether it's developing innovative solutions, driving business growth, or promoting financial wellness, John is committed to empowering organizations and individuals to achieve their goals. [](https://www.linkedin.com/in/johnscully282/ "LinkedIn") ### Recent Articles From John [Founder's Notes](/blog/category/founders-notes) 5 min read ## [The HR Guide to Using Your Entire Education Budget](/blog/the-hr-guide-to-using-your-entire-education-budget) Your education budget can do a lot more than just pay for tuition. Learn how adding student loan repayment can expand your benefits without expanding your budget. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) Aug 26, 2026 [Founder's Notes](/blog/category/founders-notes) 4 min read ## [Maximizing Your Total Rewards Budget](/blog/tax-advantaged-benefits-make-small-raises-go-further) How to offset stagnant wages with tax-advantaged benefits – making a 1% raise feel like 3%. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) Jul 09, 2026 [For Individuals](/blog/category/individuals) 5 min read ## [How the Big Beautiful Bill Affects Student Savings](/blog/one-big-beautiful-bill-student-savings-changes) OBBBA expanded 529 plan uses, made ABLE provisions permanent, and introduced Trump Accounts. Here’s what you need to know. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) Jun 24, 2026 [For Individuals](/blog/category/individuals) 5 min read ## [How the One Big Beautiful Bill Affects Student Borrowers](/blog/one-big-beautiful-bill-student-loan-changes) OBBBA is reshaping federal student loans through reduced repayment plans, tighter hardship protections, and new borrowing caps. Here’s what you need to know. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) Jun 18, 2026 [Founder's Notes](/blog/category/founders-notes) 4 min read ## [The SAVE Plan is Ending. Here’s Why Employers Need to Act.](/blog/save-plan-ending) The end of the SAVE Plan means your most educated employees may be facing hundreds in extra student loan expenses each month. Learn how tax-free benefits can keep them from closing the gap elsewhere. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) Jun 03, 2026 [Founder's Notes](/blog/category/founders-notes) 5 min read ## [The Importance of College Savings: An Open Letter to My Kids About 529s](/blog/why-529-college-savings-matters) What I want my kids to know about their 529 savings plans. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) May 20, 2026 [Founder's Notes](/blog/category/founders-notes) 6 min read ## [Who's Going to Take Care of Our Mental Health Workers?](/blog/mental-health-worker-crisis) Federal student loan policy is making it harder to become a mental health worker. We need to do something about it. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) May 06, 2026 [Founder's Notes](/blog/category/founders-notes) 6 min read ## [What is Loud Budgeting?](/blog/loud-budgeting) Learn how “loud budgeting” can help you reach your financial goals, especially when it comes to paying down student loans or building 529 college savings. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) Apr 22, 2026 [Founder's Notes](/blog/category/founders-notes) 6 min read ## [The Real Talk on Student Loans: An Open Letter to My Kids](/blog/real-talk-on-student-loans) Here’s what I want my kids to know about taking on student debt: how it really works, what it truly costs, and why you need to stay in control of it. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) Apr 08, 2026 123 --- # Samantha Park, Author at Paidly Blog URL: https://meetpaidly.com/blog/author/samantha-park Description: Samantha Park is a writer with a background in public service work. She earned a M.S. in Professional Writing from Towson University where she focused on writing for the private and public sectors, and has previously graduated with an A.A. in Psychology from Anne Arundel Community College and a B.A. in Sociology from the University of Maryland College Park. Samantha has worked within and alongside the public sector for over a decade and cares deeply about empowering marginalized youth, expanding access to opportunity through education, and increasing community involvement. # Samantha Park Samantha Park is a writer with a background in public service work. She earned a M.S. in Professional Writing from Towson University where she focused on writing for the private and public sectors, and has previously graduated with an A.A. in Psychology from Anne Arundel Community College and a B.A. in Sociology from the University of Maryland College Park. Samantha has worked within and alongside the public sector for over a decade and cares deeply about empowering marginalized youth, expanding access to opportunity through education, and increasing community involvement. [](https://www.linkedin.com/in/samanthaparkyoung "LinkedIn") ### Recent Articles From Samantha [For Individuals](/blog/category/individuals) 5 min read ## [ABLE Accounts and 529 Plans: A Flexible Savings Strategy](/blog/what-is-an-able-account-529a) Learn how 529 plans and ABLE accounts work together to make your savings even more supportive. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Jul 22, 2026 [For Individuals](/blog/category/individuals) 7 min read ## [Refinancing Student Loans](/blog/refinancing-student-loans) Refinancing can be a helpful way to reshape your student loans, but the right choice depends on your goals, your finances, and what you’re willing to trade off. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Apr 29, 2026 [For Individuals](/blog/category/individuals) 6 min read ## [Federal vs. Private Student Loans: What’s the Difference?](/blog/federal-vs-private-student-loans) One of the biggest decisions when it comes to student loans is whether to go federal or private. Learn the benefits and tradeoffs of each so you can choose the right fit for your repayment journey. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Apr 15, 2026 [For Individuals](/blog/category/individuals) 5 min read ## [How Much Income Do You Need to Afford Student Loan Payments?](/blog/how-much-income-do-you-need-to-afford-student-loan-payments) Learn how much the average household needs to live financially balanced with student debt. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Mar 18, 2026 [For Employers](/blog/category/employers) 5 min read ## [Supporting Workplace Equity with Student Loan Assistance](/blog/student-debt-impacts-dei) DEI is good for business, but student debt hurts workplace equity. Learn how you can support all employees through student loan assistance and 529 savings benefits. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Feb 04, 2026 [For Individuals](/blog/category/individuals) 5 min read ## [How to Reach Your Financial New Year’s Resolutions](/blog/financial-new-years-resolutions) 6 tips you can use to achieve your financial goals in 2026. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Jan 07, 2026 [For Employers](/blog/category/employers) 4 min read ## [Boost Your PTO Buyback](/blog/boost-your-pto-buyback) Offering a PTO buyback helps your most dedicated employees, but being taxed as supplemental income decreases its value. Learn how you can offer tax-free or tax-advantaged PTO buybacks this year. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Dec 10, 2025 [For Employers](/blog/category/employers) 6 min read ## [Curing the Pharmacist Student Debt Endemic with Employer Benefits](/blog/pharmacist-student-debt) High student debt, stressful work environments, and emotional burnout leave pharmacists struggling. Employer student loan repayment benefits can make the difference. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Oct 22, 2025 [For Individuals](/blog/category/individuals) 3 min read ## [529 Plans for Adults](/blog/529-for-adults) 529 savings plans can be used for more than college! Learn how you can take advantage of 529 plans as an adult and build a safety net for whatever your future holds. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Sep 24, 2025 123 --- # Team Paidly, Author at Paidly Blog URL: https://meetpaidly.com/blog/author/team-paidly Description: Paidly is the go-to platform for rising above student debt. We specialize in innovative solutions, such as employer student loan assistance benefits, streamlined 529 plan contributions, and crowdfunding tools for individuals and their families. Backed by nearly two decades of experience in financial technology, Paidly is committed to simplifying student loan repayment, reducing loan dependency, and empowering students to take control of their finances no matter where they are in their educational journey. # Team Paidly Paidly is the go-to platform for rising above student debt. We specialize in innovative solutions, such as employer student loan assistance benefits, streamlined 529 plan contributions, and crowdfunding tools for individuals and their families. Backed by nearly two decades of experience in financial technology, Paidly is committed to simplifying student loan repayment, reducing loan dependency, and empowering students to take control of their finances no matter where they are in their educational journey. [](https://www.linkedin.com/company/meetpaidly/ "LinkedIn")[](https://www.facebook.com/meetpaidly "Facebook")[](https://www.instagram.com/meetpaidly/ "Instagram")[](https://twitter.com/meetpaidly "Twitter")[](https://www.youtube.com/@paidly "YouTube")[](https://www.tiktok.com/@meetpaidly "TikTok") ### Recent Articles From Team [For Individuals](/blog/category/individuals) 4 min read ## [Education Benefits You Should Know About](/blog/education-benefits-you-should-know-about) Education benefits like 529 savings, tuition reimbursement, and student loan repayment can help you reduce education costs during every stage of your career. [](/blog/author/team-paidly)[Team Paidly](/blog/author/team-paidly) Aug 07, 2026 [For Individuals](/blog/category/individuals) 6 min read ## [Child Savings Accounts: Coverdell ESAs vs. 529 Plans vs. Trump Accounts](/blog/child-savings-accounts-529-coverdell-530A) Trump Accounts offer more flexibility but less tax advantages than 529 plans and Coverdell ESAs. Learn how these child savings options compare so you can pick the best fit for your child’s future. [](/blog/author/team-paidly)[Team Paidly](/blog/author/team-paidly) May 27, 2026 [For Employers](/blog/category/employers) 5 min read ## [How Employee Financial Wellness is Impacting Your Business](/blog/student-debt-hurts-employee-financial-wellness) Student debt is affecting your workforce and your business. Learn the importance of financial wellness and how you can foster it through strategic benefits. [](/blog/author/team-paidly)[Team Paidly](/blog/author/team-paidly) May 14, 2026 [For Individuals](/blog/category/individuals) 6 min read ## [Taking On Student Loans: The Ultimate Guide](/blog/ultimate-guide-to-taking-on-student-loans) Confused about student loans? We got you covered! Here’s everything you need to know to manage student debt with confidence. [](/blog/author/team-paidly)[Team Paidly](/blog/author/team-paidly) Apr 01, 2026 [For Employers](/blog/category/employers) 2 min read ## [Introducing Paidly’s Updated Benefits: Now with Employee Contributions and Member Pricing!](/blog/introducing-employee-contributions) Simplify financial wellness for your team with employee, employer, and community contributions for student loans and 529 savings. [](/blog/author/team-paidly)[Team Paidly](/blog/author/team-paidly) Jan 21, 2026 [For Individuals](/blog/category/individuals) 8 min read ## [Public Service Loan Forgiveness: Debunking Common Misconceptions](/blog/pslf-myths) There are a lot of misconceptions about Public Service Loan Forgiveness. We’ve debunked 9 PSLF myths so you can decide if pursuing forgiveness is right for you. [](/blog/author/team-paidly)[Team Paidly](/blog/author/team-paidly) Nov 19, 2025 [For Employers](/blog/category/employers) 6 min read ## [The 3 Types of Employee Benefits Every Company Needs](/blog/3-types-of-employee-benefits) Benefits packages speak volumes about how your company values employees. Having the right mix of benefits can put you steps ahead of the competition. [](/blog/author/team-paidly)[Team Paidly](/blog/author/team-paidly) Nov 05, 2025 [For Employers](/blog/category/employers) 10 min read ## [Veterinarians Saddled with Student Debt: Employer Benefits Lighten the Load](/blog/veterinarian-student-loan-debt-employer-benefits) Staggering student loan debt and worsening mental well-being are causing a veterinarian shortage. Learn how employer student loan assistance supports employees and keeps the quality of care high. [](/blog/author/team-paidly)[Team Paidly](/blog/author/team-paidly) Oct 08, 2025 [For Individuals](/blog/category/individuals) 8 min read ## [The Benefits and Pitfalls of Student Loan Autopay](/blog/autopay-student-loans) Autopay is a popular and convenient option for student loan repayment, but errors can leave borrowers vulnerable. Here’s everything you need to know about autopay and alternative ways to save. [](/blog/author/team-paidly)[Team Paidly](/blog/author/team-paidly) Aug 27, 2025 12345 --- # Nursing and Student Loan Repayment URL: https://meetpaidly.com/blog/average-nursing-school-debt-repayment Description: Unlock nursing career insights & tackle student loan debt with ease! Discover salaries & smart repayment solutions. [Home](/ "Home")[Blog](/blog "Blog")[For Individuals](/blog/category/individuals "For Individuals")Nursing and Student Loan Repayment # Nursing and Student Loan Repayment: Empowering Nurses with Solutions Navigate your nursing career and student loan debt without compromise [](/blog/author/team-paidly) [Team Paidly](/blog/author/team-paidly) Updated: Jul 25, 20238 min read [](https://www.facebook.com/sharer/sharer.php?u=https://meetpaidly.com/blog/average-nursing-school-debt-repayment "Share to Facebook") [](https://twitter.com/intent/tweet/?text=Nursing%20and%20Student%20Loan%20Repayment%3A%20Empowering%20Nurses%20with%20Solutions&url=https://meetpaidly.com/blog/average-nursing-school-debt-repayment "Share to Twitter") [](https://www.linkedin.com/sharing/share-offsite/?url=https://meetpaidly.com/blog/average-nursing-school-debt-repayment "Share to Linkedin") [](mailto:?Subject=Nursing%20and%20Student%20Loan%20Repayment%3A%20Empowering%20Nurses%20with%20Solutions&Body=Check%20this%20out%21%0Ahttps%3A%2F%2Fhttps://meetpaidly.com/blog/average-nursing-school-debt-repayment "Share to Email") ## Key Takeaways - Nurses typically carry a **$19,928-$47,321 student loan debt** load, but you have options. - Various repayment and forgiveness programs can bring relief to your monthly payments. - Employer-supported student loan payments can ease your burden. * * * Dedication to helping others, improving health outcomes, and desire to make a positive impact make choosing a nursing career commendable. It's also challenging - notably when you are navigating a sea of student loan debt. This guide empowers nurses to balance rewarding work and financial needs. ## A Balance between Career and Debt Nursing provides opportunities to help people and make an impact in your community. Student loan debt can, however, overwhelm you and overshadow the fulfilling facets of your profession. **Take control of your financial future, understand your debt, and explore solutions.** ## The Student Loan Reality for Nurses The typical nurse carries a student loan debt load of around **$19,928-$47,321**. While this may seem daunting, remember this, you have the power and the options to navigate your way to financial freedom effectively. ## What's the Average Nurse's Earning Potential? We’ll delve deeper into the earning potential of different nursing roles, so you can make informed decisions about your nursing career path. ### Exploring Nursing Salaries Salaries for nursing roles can significantly differ based on factors such as your role, location and experience within the field. - **Registered Nurse (RN) Salaries** Registered Nurses earn a median annual wage of $82,750 ($39.79 / hour), as reported by [Nurse Labs in the 2022 Update](https://nurseslabs.com/nurse-salary-2022). RN salaries can range from $59,450 to over $120,250, depending on such elements as the work setting, experience, and location. - **Advanced Practice Registered Nurse (APRN) Salaries** APRNs, due to their additional education and specialized responsibilities, typically command higher salaries. Let's look at a few APRN roles and their average salaries from [U.S. Bureau of labor statistics](https://www.bls.gov/): - Nurse Practitioner (NP): $111,840 - Certified Nurse-Midwife (CNM): $120,880 - Certified Registered Nurse Anesthetist (CRNA): $203,090 \*Remember, these are averages; actual salaries could be higher or lower depending on various factors. Many elements impact nursing salaries: - **Education:** Advanced education often comes with higher pay, with APRNs typically earning more than RNs. - **Experience:** As you gain experience, expect your salary to increase. - **Location:** Salaries can vary depending on your geographical location. Nurses in California, New York, Hawaii, and the District of Columbia tend to earn higher salaries. - **Specialization:** Some nursing specialties can command higher salaries due to their demand or specificity. - **Shift Differentiation:** Working night shifts or weekends could potentially yield higher earnings. Align your career goals with the financial demands of your student loan repayments, considering these variations and opportunities. ## Nursing Specializations That Bring Financial Rewards Advanced nursing positions tend to offer higher salaries. These positions typically require further education, such as a Master's or Doctoral degree in nursing. ### Nurse Practitioner (NP) Nurse Practitioners have more autonomy in patient care compared to RNs. They can diagnose and manage acute and chronic illnesses, and they can even serve as a patient's primary healthcare provider. With an average salary of around $111,840, this can be a financially rewarding path. ### Certified Registered Nurse Anesthetist (CRNA) This is one of the highest-paying nursing specialties. As a CRNA, you'll provide anesthesia to patients in surgical, obstetrical, and trauma care settings. The additional expertise and responsibilities come with a hefty salary averaging around $203,090. ### Nursing Administration Nursing administrators take on leadership roles within healthcare organizations. They're responsible for overseeing nursing staff, budgeting, policy-making, and more. These roles are usually well-compensated, with salaries often exceeding $100,000. ## Understanding Your Debt and Developing a Plan Once you have a clear understanding of your financial standing and earning potential, it's time to devise strategies and solutions to manage your student loan debt: - **Develop a Repayment Plan:** Know how much to pay each month and the time it should take to pay off your loans. - **Consider Refinancing Your Loans:** Refinancing might be an ideal option, especially if you have high-interest loans or loans with several lenders. It could help you secure a lower interest rate, reduce your monthly payments, or shorten your loan term. ### Developing a Repayment Plan Developing a repayment plan is the first step towards managing your student loan debt. This plan should detail how much you will pay on your loans each month and how long it will take to pay them off. ### Consider Refinancing Your Student Loans If you have high-interest loans or multiple loans from different lenders, then refinancing might be a good option for you. Refinancing your student loans could help you secure a lower interest rate, reduce monthly payments, or shorten your loan term. ## Innovative Ways Nurses Can Pay Off Loans Faster While dealing with student loan debt can be challenging, there are several approaches you can take to pay off your loans faster and save money in the long run. - **Pay More, if You Can:** Try to pay more than the minimum amount due each month to reduce your total debt faster. - **Use Spare Funds to Pay down Principal:** Instead of splurging with leftover money, allocate it to reducing your principal. You'll lower the overall interest and save significantly in the long run. Use our [extra payment calculator](/calculators/lump-sum-payment-calculator) to see how much you can save from one lump sum extra payment. - **Stay Consistent with On-Time Payments:** Late payments come with fees—avoid them by consistently paying on time. Helpful tools such as Google Calendar reminders can assist you in achieving this. ## Pay More Than the Minimum While we understand that paying more than the minimum monthly payment may not be possible for everyone due to budget constraints, it's worth considering if it's within your financial capabilities. This method can greatly benefit you in the long term as it can help reduce the overall interest you'll pay and shorten the lifespan of your loan. In fact, even an additional $5 over your minimum monthly payment can have a direct impact on your principal, consequently decreasing the total cost of interest you'll incur on your student loans. ## Nursing Repayment and Forgiveness Opportunities While struggling to make monthly payments can cause stress, remember that there are numerous resources and programs available to help nurses with loan repayments. ### Public Service Loan Forgiveness (PSLF) If you work for a non-profit or government organization, the [Public Service Loan Forgiveness (PSLF) program](/blog/navigating-public-student-loan-forgiveness) might be a good fit for you. This program forgives the remaining balance on your Direct Loans after you have made 120 qualifying payments under a qualifying repayment plan while working full-time for a qualifying employer. Learn more about or apply to [Public Service Loan Forgiveness](https://studentaid.gov/manage-loans/forgiveness-cancellation/public-service). ### Nurse Corps Loan Repayment Program (NCLRP) The Nurse Corps Loan Repayment Program is a selective program that offers significant student loan repayment assistance to registered nurses (RNs) willing to serve in eligible critical shortage facilities. Learn more about or apply to the [Army Nurse Corps](https://www.goarmy.com/careers-and-jobs/specialty-careers/health-care.html). ### State-Specific Loan Repayment and Forgiveness Programs Many states offer loan repayment or forgiveness programs for nurses who work in areas facing critical nursing shortages or underserved communities. Make sure to check your state's Department of Health or Board of Nursing website for more information about what's available in your area. ## Exploring the Benefits of Employer-Supported Student Loan Repayments Employer-supported student loan payments can significantly help to offset your student loan debt. Some organizations are now offering these benefit programs to attract and retain qualified nurses. ### An Innovative Solution With Paidly, you have the opportunity to alleviate your debt load through employer-supported student loan payments. Employers can supplementally make [tax-free payments to your student loans](/tax-free) up to **$5,250 a year**. #### **Key Features of Paidly’s Student Loan Repayment Benefit** - **Seamless employee-to-loan debt management:** Paidly’s verification teams handle the entire process, making it easy for both employers and employees. - **Direct payment to loan providers:** Paidly pays directly to the loan servicer, so no money is exchanged with the employee. - **Attract and retain top talent:** Offering financial relief to your employees boosts morale and loyalty, helping you retain the best in the industry. #### **Benefits for Employers and Employees** - **Addressing financial concerns:** With 89% of borrowers uncertain about loan payments, Paidly helps alleviate stress and improve productivity. - **Privacy and discretion:** Many employees are hesitant to ask for financial help. Paidly allows you to offer assistance without drawing attention to your employees' debt. - **Tax-free benefit:** Thanks to [Section 2206 of the CARES Act, this benefit is tax-free up to $5,250 until 2025](/blog/the-cares-act-and-how-it-could-change-the-future-of-student-loan-repayments). Navigating your nursing career and handling student loan debt might seem challenging, but with the right tools and guidance, you have the power to shape your financial future while continuing to impact lives through your career. [Reach out today](/contact-sales) or read [how to ask your employer for a student loan repayment benefit](/blog/4-steps-on-how-to-ask-your-employer-to-repay-student-loans). #### Table of Contents - #### Let's Talk Repayment Benefits Talk to one of our team of experts that will answer any questions [Talk to an Expert](/contact-sales) [](/blog/author/team-paidly) #### [Team Paidly](/blog/author/team-paidly) Paidly is the go-to platform for rising above student debt. We specialize in innovative solutions, such as employer student loan assistance benefits, streamlined 529 plan contributions, and crowdfunding tools for individuals and their families. Backed by nearly two decades of experience in financial technology, Paidly is committed to simplifying student loan repayment, reducing loan dependency, and empowering students to take control of their finances no matter where they are in their educational journey. [](https://www.linkedin.com/company/meetpaidly/ "LinkedIn")[](https://www.facebook.com/meetpaidly "Facebook")[](https://www.instagram.com/meetpaidly/ "Instagram")[](https://twitter.com/meetpaidly "Twitter")[](https://www.youtube.com/@paidly "YouTube")[](https://www.tiktok.com/@meetpaidly "TikTok") #### Stay Ahead of the Curve Get the latest insights on student loan repayment, 529 contributions, and maximizing employer benefits delivered to your inbox. Join the list By submitting your email, you agree to receive emails from Paidly and acknowledge that you can unsubscribe at any time. * * * The information provided is of a general nature and an educational resource. It is not intended to provide advice or address the situation of any particular individual or entity. Any recipient shall be responsible for the use to which it puts this document. Paidly shall have no liability for the information provided. While care has been taken to produce this document, Paidly does not warrant, represent or guarantee the completeness, accuracy, adequacy, or fitness with respect to the information contained in this document. The information provided does not reflect new circumstances, or additional regulatory and legal changes. The issues addressed may have legal, financial, and health implications, and we recommend you speak to your legal, financial, and health advisors before acting on any of the information provided. ### You may also like [Founder's Notes](/blog/category/founders-notes) 5 min read ## [The HR Guide to Using Your Entire Education Budget](/blog/the-hr-guide-to-using-your-entire-education-budget) Your education budget can do a lot more than just pay for tuition. Learn how adding student loan repayment can expand your benefits without expanding your budget. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) Aug 26, 2026 [For Individuals](/blog/category/individuals) 4 min read ## [Education Benefits You Should Know About](/blog/education-benefits-you-should-know-about) Education benefits like 529 savings, tuition reimbursement, and student loan repayment can help you reduce education costs during every stage of your career. [](/blog/author/team-paidly)[Team Paidly](/blog/author/team-paidly) Aug 07, 2026 [For Individuals](/blog/category/individuals) 5 min read ## [ABLE Accounts and 529 Plans: A Flexible Savings Strategy](/blog/what-is-an-able-account-529a) Learn how 529 plans and ABLE accounts work together to make your savings even more supportive. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Jul 22, 2026 --- # A Simple Guide to Student Loan Repayment Strategies URL: https://meetpaidly.com/blog/beginners-guide-student-loan-repayment-strategies Description: Uncover essentials of Income-Driven Repayments, Loan Forgiveness & Employer Repayment programs in this concise guide to student loan strategies. [Home](/ "Home")[Blog](/blog "Blog")[For Individuals](/blog/category/individuals "For Individuals")A Simple Guide to Student Loan Repayment Strategies # A Simple Guide to Student Loan Repayment Strategies Master your student loan debt with smart strategies! Explore Income-Driven Repayments, Forgiveness, and Employer Assistance. [](/blog/author/team-paidly) [Team Paidly](/blog/author/team-paidly) Updated: Jul 12, 20244 min read [](https://www.facebook.com/sharer/sharer.php?u=https://meetpaidly.com/blog/beginners-guide-student-loan-repayment-strategies "Share to Facebook") [](https://twitter.com/intent/tweet/?text=A%20Simple%20Guide%20to%20Student%20Loan%20Repayment%20Strategies&url=https://meetpaidly.com/blog/beginners-guide-student-loan-repayment-strategies "Share to Twitter") [](https://www.linkedin.com/sharing/share-offsite/?url=https://meetpaidly.com/blog/beginners-guide-student-loan-repayment-strategies "Share to Linkedin") [](mailto:?Subject=A%20Simple%20Guide%20to%20Student%20Loan%20Repayment%20Strategies&Body=Check%20this%20out%21%0Ahttps%3A%2F%2Fhttps://meetpaidly.com/blog/beginners-guide-student-loan-repayment-strategies "Share to Email") ## Key Takeaways - Compare standard and income-driven repayment plans to find the best option for your situation. - Understand the challenges of income-driven repayment plans and the potential for student loan forgiveness. - Learn how employer student loan repayment assistance can help you pay off your debt faster. * * * Understanding your student loan repayment options is essential for managing your debt effectively. In this easy-to-read guide, we'll [explore Income-Driven Repayments](/blog/income-driven-repayment-plans), Student Loan Forgiveness, and Employer Student Loan Repayment programs to help you make the best decisions for your situation. ## Comparing Repayment Plans - Emily and Daniel's Choices ### Emily's Standard Repayment Plan Emily and Daniel both have **$30,000 in student loan debt** with a 5% interest rate. Emily picked a standard repayment plan, which let her pay off her debt in 10 years. She paid **$318** each month, with early payments mostly covering interest. Over time, more of her payment went towards the loan balance, and **after 10 years, she was debt-free.** ### Daniel's Income-Based Repayment Plan Daniel chose an Income-Driven Repayment plan, which lowered his monthly payment to $68 based on his **$30,000** yearly income. But with amortization, he still owed that $125 the first month since it's the same loan as Emily, but Daniel's monthly payment was less than that, meaning there's nothing to go towards the loan's principal, and his balance owed goes up. **Sadly, this payment only covered interest**, which made his total amount paid go up, and also his balance. **After 10 years, he paid $8,000 but still owed over $38,000.** An amortization schedule is a table that shows how payments are applied to loan principle and interest over time, helping you understand the process of paying down your debt. ### Sample Amortization Table: Emily and Daniel's First Three Months of Payments **Emily's** Month Payment Interest Principal Balance 1 $318 $125 $193 $29,807 2 $318 $124.2 $193.8 $29,613 3 $318 $123.39 $194.61 $29,418 **Daniel’s (Income-Driven Repayments)** Month Payment Interest Principal Balance 1 $68 $125 $-57 $30,057 2 $68 $125 $-57 $30,114 3 $68 $125 $-57 $30,171 ## Income-Driven Repayments and Student Loan Forgiveness Challenges ### The Difficulty of Income-Driven Plans Income-Driven Repayment plans usually last **20 or 25 years**, with any leftover balance being forgiven. So in theory, people like Daniel will have paid **$16,000 after two decades**, and his then **$53,000 balance would be forgiven**, but a government report found that of all the borrowers at that stage, only 11% would be eligible for forgiveness. Completing these programs is tough, as missed payments or not submitting yearly income updates can disqualify borrowers. ### The Promise of Student Loan Forgiveness [President Biden's Student Loan Forgiveness plan](/blog/student-loan-payment-pause-facts-next-steps) aims to simplify Income-Driven Repayment plans, making it easier for borrowers like Daniel to achieve loan forgiveness. ## Employer Student Loan Repayment - Daniel's Extra Help ### Employer Assistance Increases Monthly Payments If Daniel's [employer offers Student Loan Repayment Assistance](/employer), contributing an **extra $100 per month**, his **monthly payment would rise to $168**. This would let him pay off his loan in about 23 years, assuming Daniel remains enrolled in an income-driven repayment plan, his new monthly payment would be more than enough to cover the interest and start reducing the principal balance. ### Understanding Employer Assistance Programs Not all borrowers have access to [Employer Student Loan Repayment programs](/blog/how-to-start-a-student-loan-repayment-benefit), and they often come with specific requirements. Borrowers should carefully review their employer's program and consider how it affects their repayment strategy. ### Sample Amortization Table **Daniel's First Three Months of Payments with Employer Assistance** Month Payment Interest Principal Balance 1 $168 $125 $43 $29,957 2 $168 $125 $43 $29,914 3 $168 $125 $43 $29,871 ## Unlocking the Secrets to Successful Student Loan Repayment Knowing the differences between repayment plans, the role of amortization schedules, and the benefits of Employer Student Loan Repayment programs can help borrowers make informed decisions. President Biden's Student Loan Forgiveness plan offers hope for those struggling with Income-Driven Repayment plans. #### Table of Contents - #### Let's Talk Repayment Benefits Talk to one of our team of experts that will answer any questions [Talk to an Expert](/contact-sales) [](/blog/author/team-paidly) #### [Team Paidly](/blog/author/team-paidly) Paidly is the go-to platform for rising above student debt. We specialize in innovative solutions, such as employer student loan assistance benefits, streamlined 529 plan contributions, and crowdfunding tools for individuals and their families. Backed by nearly two decades of experience in financial technology, Paidly is committed to simplifying student loan repayment, reducing loan dependency, and empowering students to take control of their finances no matter where they are in their educational journey. [](https://www.linkedin.com/company/meetpaidly/ "LinkedIn")[](https://www.facebook.com/meetpaidly "Facebook")[](https://www.instagram.com/meetpaidly/ "Instagram")[](https://twitter.com/meetpaidly "Twitter")[](https://www.youtube.com/@paidly "YouTube")[](https://www.tiktok.com/@meetpaidly "TikTok") #### Stay Ahead of the Curve Get the latest insights on student loan repayment, 529 contributions, and maximizing employer benefits delivered to your inbox. Join the list By submitting your email, you agree to receive emails from Paidly and acknowledge that you can unsubscribe at any time. * * * The information provided is of a general nature and an educational resource. It is not intended to provide advice or address the situation of any particular individual or entity. Any recipient shall be responsible for the use to which it puts this document. Paidly shall have no liability for the information provided. While care has been taken to produce this document, Paidly does not warrant, represent or guarantee the completeness, accuracy, adequacy, or fitness with respect to the information contained in this document. The information provided does not reflect new circumstances, or additional regulatory and legal changes. The issues addressed may have legal, financial, and health implications, and we recommend you speak to your legal, financial, and health advisors before acting on any of the information provided. ### You may also like [Founder's Notes](/blog/category/founders-notes) 5 min read ## [The HR Guide to Using Your Entire Education Budget](/blog/the-hr-guide-to-using-your-entire-education-budget) Your education budget can do a lot more than just pay for tuition. Learn how adding student loan repayment can expand your benefits without expanding your budget. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) Aug 26, 2026 [For Individuals](/blog/category/individuals) 4 min read ## [Education Benefits You Should Know About](/blog/education-benefits-you-should-know-about) Education benefits like 529 savings, tuition reimbursement, and student loan repayment can help you reduce education costs during every stage of your career. [](/blog/author/team-paidly)[Team Paidly](/blog/author/team-paidly) Aug 07, 2026 [For Individuals](/blog/category/individuals) 5 min read ## [ABLE Accounts and 529 Plans: A Flexible Savings Strategy](/blog/what-is-an-able-account-529a) Learn how 529 plans and ABLE accounts work together to make your savings even more supportive. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Jul 22, 2026 --- # The Benefits of Workplace Student Loan Assistance URL: https://meetpaidly.com/blog/benefits-of-workplace-student-loan-assistance Description: Learn how workplace student loan assistance can revolutionize your student loan debt. Unlock financial freedom today. [Home](/ "Home")[Blog](/blog "Blog")[For Individuals](/blog/category/individuals "For Individuals")The Benefits of Workplace Student Loan Assistance # Unleash Financial Freedom: The Benefits of Workplace Student Loan Assistance Breaking the Chains of Student Loan Debt - Your Employers can help with Workplace Student Loan Assistance. [](/blog/author/team-paidly) [Team Paidly](/blog/author/team-paidly) Updated: Jul 14, 20254 min read [](https://www.facebook.com/sharer/sharer.php?u=https://meetpaidly.com/blog/benefits-of-workplace-student-loan-assistance "Share to Facebook") [](https://twitter.com/intent/tweet/?text=Unleash%20Financial%20Freedom%3A%20The%20Benefits%20of%20Workplace%20Student%20Loan%20Assistance&url=https://meetpaidly.com/blog/benefits-of-workplace-student-loan-assistance "Share to Twitter") [](https://www.linkedin.com/sharing/share-offsite/?url=https://meetpaidly.com/blog/benefits-of-workplace-student-loan-assistance "Share to Linkedin") [](mailto:?Subject=Unleash%20Financial%20Freedom%3A%20The%20Benefits%20of%20Workplace%20Student%20Loan%20Assistance&Body=Check%20this%20out%21%0Ahttps%3A%2F%2Fhttps://meetpaidly.com/blog/benefits-of-workplace-student-loan-assistance "Share to Email") * * * The benefits of workplace student loan assistance are many. It can help you reduce your monthly payments and make it easier to pay off your debt sooner. ## A Ray of Hope: The Emergence of Workplace Student Loan Assistance An employee benefit that had been available for years finally gained mainstream recognition. The [CARES Act](/blog/the-cares-act-and-how-it-could-change-the-future-of-student-loan-repayments) allowed employers to offer what is also known as student loan repayment assistance, [tax-free up to $5,250](/tax-free) a year under a [Section 127 Plan](/blog/understanding-section-127-plan). You can use this benefit to pay off your student loans. This benefit provides significant financial relief for individuals who are struggling with debt repayment and allows them to focus on saving for retirement or building an emergency fund instead of worrying about their monthly payments. ## A Win-Win Situation: The Advantages of Workplace Student Loan Assistance - Talent Magnet: Offering student loan assistance can set your company apart and attract top talent in a competitive job market. - You Pay Less Interest: Students who receive workplace student loan assistance pay less interest over time, as well as get lower monthly payments, which means that the loans are paid off faster with [extra payments or lump sum payments](/calculators/lump-sum-payment-calculator) if necessary. - Positive Company Culture: Providing student loan assistance demonstrates to employees that the company cares about their financial wellbeing and is invested in their future. ## Can my employer pay for my student loans? Yes, as an employee, you can take advantage of this benefit. In order to qualify for this [tax-free](/tax-free) student loan repayment program, your employer must provide the funds as a benefit and not an employment incentive. The payments must be made directly to your lender or servicer on your behalf. This is where a company like Paidly helps your employer contribute directly to your student loans. We verify your loan information so your student loan debt is never shared with your employer, and we help make the payments on your employer's behalf. Your Paidly account is yours and when you switch employers you can take Paidly with you. ## How Does Workplace Student Loan Assistance Work? Workplace student loan assistance is a benefit offered by some employers, who may choose to pay off part or all of your student loans. There are two main forms of workplace student loan assistance: loan repayment programs and contributions to employee loan payments, Paidly offers support for both of these programs through our standard [recurring benefit plans](/employer) and our [on-demand product for lump sum payments](/on-demand). - **Loan repayment program**: which allows an employer to repay all or part of an employee's outstanding debt, either in one lump sum or over time (usually monthly). - **Contribution toward loan payments**: this means that instead of paying off all or part of your debt outright like with the first option above, they simply contribute money towards making sure those bills get paid on time every month via direct deposit into either an account linked directly with their payroll department. With Paidly a contribution toward student loans will happen in the form of a supplemental payment and the loan holder is expected to continue to make regular monthly payments. ## The Case for Workplace Student Loan Assistance Offering workplace student loan assistance can provide numerous benefits for employees and employers alike. A few reasons why your company should seriously consider this type of benefit: - **Talent Retention** - **Financial Wellness** - **Improved Company Culture** - **Extra payments can cut years and save thousands of dollars off student loans** It's not just about the money though. Workplace Student Loan Assistance can improve company culture by giving you more flexibility in deciding where you want to work and what career path you want to take--thus allowing you to be happier at work and more productive overall. ## Financial Freedom Awaits With so many benefits to workplace student loan assistance, it's no wonder that more companies are starting to offer this benefit. If you're looking for help paying off your student loans, consider asking your employer to offer this benefit and tell them to [Meet Paidly](/). #### Table of Contents - #### Let's Talk Repayment Benefits Talk to one of our team of experts that will answer any questions [Talk to an Expert](/contact-sales) [](/blog/author/team-paidly) #### [Team Paidly](/blog/author/team-paidly) Paidly is the go-to platform for rising above student debt. We specialize in innovative solutions, such as employer student loan assistance benefits, streamlined 529 plan contributions, and crowdfunding tools for individuals and their families. Backed by nearly two decades of experience in financial technology, Paidly is committed to simplifying student loan repayment, reducing loan dependency, and empowering students to take control of their finances no matter where they are in their educational journey. [](https://www.linkedin.com/company/meetpaidly/ "LinkedIn")[](https://www.facebook.com/meetpaidly "Facebook")[](https://www.instagram.com/meetpaidly/ "Instagram")[](https://twitter.com/meetpaidly "Twitter")[](https://www.youtube.com/@paidly "YouTube")[](https://www.tiktok.com/@meetpaidly "TikTok") #### Stay Ahead of the Curve Get the latest insights on student loan repayment, 529 contributions, and maximizing employer benefits delivered to your inbox. Join the list By submitting your email, you agree to receive emails from Paidly and acknowledge that you can unsubscribe at any time. * * * The information provided is of a general nature and an educational resource. It is not intended to provide advice or address the situation of any particular individual or entity. Any recipient shall be responsible for the use to which it puts this document. Paidly shall have no liability for the information provided. While care has been taken to produce this document, Paidly does not warrant, represent or guarantee the completeness, accuracy, adequacy, or fitness with respect to the information contained in this document. The information provided does not reflect new circumstances, or additional regulatory and legal changes. The issues addressed may have legal, financial, and health implications, and we recommend you speak to your legal, financial, and health advisors before acting on any of the information provided. ### You may also like [Founder's Notes](/blog/category/founders-notes) 5 min read ## [The HR Guide to Using Your Entire Education Budget](/blog/the-hr-guide-to-using-your-entire-education-budget) Your education budget can do a lot more than just pay for tuition. Learn how adding student loan repayment can expand your benefits without expanding your budget. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) Aug 26, 2026 [For Individuals](/blog/category/individuals) 4 min read ## [Education Benefits You Should Know About](/blog/education-benefits-you-should-know-about) Education benefits like 529 savings, tuition reimbursement, and student loan repayment can help you reduce education costs during every stage of your career. [](/blog/author/team-paidly)[Team Paidly](/blog/author/team-paidly) Aug 07, 2026 [For Individuals](/blog/category/individuals) 5 min read ## [ABLE Accounts and 529 Plans: A Flexible Savings Strategy](/blog/what-is-an-able-account-529a) Learn how 529 plans and ABLE accounts work together to make your savings even more supportive. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Jul 22, 2026 --- # Our Blog - Benefit Professionals URL: https://meetpaidly.com/blog/category/benefit-professionals Description: Insights and strategies tailored for benefit professionals, spotlighting integrating student loan repayment benefits into your portfolio. # Benefit Professionals Featured [Benefit Professionals](/blog/category/benefit-professionals) 7 min read ## [Offer Student Loan Repayment Benefits Through Your Brokerage](/blog/offer-student-loan-repayment-benefits-through-your-brokerage) Differentiate your offerings, Introduce the benefit that the modern workforce is seeking. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully)May 14, 2024 [ ](/blog/offer-student-loan-repayment-benefits-through-your-brokerage) --- # Our Blog - Borrower Experiences URL: https://meetpaidly.com/blog/category/borrower-experiences Description: Paidly articles that focus on the borrower experiences with student loan debt # Borrower Experiences ## Recent articles [Borrower Experiences](/blog/category/borrower-experiences) 11 min read ## [Debt vs. Service: Advice to Future Borrowers](/blog/advice-to-future-public-service-workers) Public service workers recommend future borrowers go to community college, build savings when possible, and weigh whether taking out loans is right for them. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Sep 30, 2024 [Borrower Experiences](/blog/category/borrower-experiences) 13 min read ## [Debt vs. Service: The Struggle in Nonprofits](/blog/student-debt-weighs-down-nonprofit-staff) Nonprofit workers are overworked and underpaid, and student loan payments are making things worse. Our communities need dedicated and passionate individuals - but passion doesn’t always pay the bills. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Sep 23, 2024 [Borrower Experiences](/blog/category/borrower-experiences) 13 min read ## [Debt vs. Service: The Healthcare Worker Tradeoff](/blog/student-debt-hurts-healthcare) More healthcare workers hold student loan debt than any other profession, and the financial stress is taking its toll. Inadequate compensation is pushing them out, creating a healthcare shortage. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Sep 16, 2024 [Borrower Experiences](/blog/category/borrower-experiences) 11 min read ## [Debt vs. Service: The Personal Cost of Teaching](/blog/teachers-struggle-under-student-loan-debt) Educators are struggling under the weight of student loan debt. They're burned out, fed up, and ready to move on if teachers don't get the compensation they deserve. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Sep 10, 2024 [Borrower Experiences](/blog/category/borrower-experiences) 5 min read ## [Debt vs. Service: The Dilemma of America’s Essential Workers](/blog/student-loan-debt-draining-public-service-workers) Student loan debt is physically, mentally, and financially draining public service workers. It’s time to do something about it. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Sep 03, 2024 --- # Our Blog - For Employers URL: https://meetpaidly.com/blog/category/employers Description: Paidly articles that focus on the employer for student loan repayment benefits. # For Employers ## Recent articles [For Employers](/blog/category/employers) 5 min read ## [How Employee Financial Wellness is Impacting Your Business](/blog/student-debt-hurts-employee-financial-wellness) Student debt is affecting your workforce and your business. Learn the importance of financial wellness and how you can foster it through strategic benefits. [](/blog/author/team-paidly)[Team Paidly](/blog/author/team-paidly) May 14, 2026 [For Employers](/blog/category/employers) 4 min read ## [Breaking the Cycle: How Modern Benefits Can Support Generational Wealth Building](/blog/supporting-generational-wealth) Learn how student loan repayment and 529 benefits help employees move from debt-burdened to wealth-building. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) Feb 18, 2026 [For Employers](/blog/category/employers) 5 min read ## [Supporting Workplace Equity with Student Loan Assistance](/blog/student-debt-impacts-dei) DEI is good for business, but student debt hurts workplace equity. Learn how you can support all employees through student loan assistance and 529 savings benefits. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Feb 04, 2026 [For Employers](/blog/category/employers) 2 min read ## [Introducing Paidly’s Updated Benefits: Now with Employee Contributions and Member Pricing!](/blog/introducing-employee-contributions) Simplify financial wellness for your team with employee, employer, and community contributions for student loans and 529 savings. [](/blog/author/team-paidly)[Team Paidly](/blog/author/team-paidly) Jan 21, 2026 [For Employers](/blog/category/employers) 4 min read ## [Boost Your PTO Buyback](/blog/boost-your-pto-buyback) Offering a PTO buyback helps your most dedicated employees, but being taxed as supplemental income decreases its value. Learn how you can offer tax-free or tax-advantaged PTO buybacks this year. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Dec 10, 2025 [For Employers](/blog/category/employers) 6 min read ## [The 3 Types of Employee Benefits Every Company Needs](/blog/3-types-of-employee-benefits) Benefits packages speak volumes about how your company values employees. Having the right mix of benefits can put you steps ahead of the competition. [](/blog/author/team-paidly)[Team Paidly](/blog/author/team-paidly) Nov 05, 2025 [For Employers](/blog/category/employers) 6 min read ## [Curing the Pharmacist Student Debt Endemic with Employer Benefits](/blog/pharmacist-student-debt) High student debt, stressful work environments, and emotional burnout leave pharmacists struggling. Employer student loan repayment benefits can make the difference. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Oct 22, 2025 [For Employers](/blog/category/employers) 10 min read ## [Veterinarians Saddled with Student Debt: Employer Benefits Lighten the Load](/blog/veterinarian-student-loan-debt-employer-benefits) Staggering student loan debt and worsening mental well-being are causing a veterinarian shortage. Learn how employer student loan assistance supports employees and keeps the quality of care high. [](/blog/author/team-paidly)[Team Paidly](/blog/author/team-paidly) Oct 08, 2025 [For Employers](/blog/category/employers) 6 min read ## [Transforming Your Education Financing Benefits Beyond Tuition Reimbursement](/blog/transform-employer-education-financing-benefits) You have the power to improve employee well-being and productivity. The secret ingredients? Employer student loan assistance and 529 educational savings benefits. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Jul 16, 2025 123 --- # Our Blog - Founder's Notes URL: https://meetpaidly.com/blog/category/founders-notes Description: Insights from Paidly's CEO, John Scully. # Founder's Notes ## Recent articles [Founder's Notes](/blog/category/founders-notes) 5 min read ## [The HR Guide to Using Your Entire Education Budget](/blog/the-hr-guide-to-using-your-entire-education-budget) Your education budget can do a lot more than just pay for tuition. Learn how adding student loan repayment can expand your benefits without expanding your budget. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) Aug 26, 2026 [Founder's Notes](/blog/category/founders-notes) 4 min read ## [Maximizing Your Total Rewards Budget](/blog/tax-advantaged-benefits-make-small-raises-go-further) How to offset stagnant wages with tax-advantaged benefits – making a 1% raise feel like 3%. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) Jul 09, 2026 [Founder's Notes](/blog/category/founders-notes) 4 min read ## [The SAVE Plan is Ending. Here’s Why Employers Need to Act.](/blog/save-plan-ending) The end of the SAVE Plan means your most educated employees may be facing hundreds in extra student loan expenses each month. Learn how tax-free benefits can keep them from closing the gap elsewhere. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) Jun 03, 2026 [Founder's Notes](/blog/category/founders-notes) 5 min read ## [The Importance of College Savings: An Open Letter to My Kids About 529s](/blog/why-529-college-savings-matters) What I want my kids to know about their 529 savings plans. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) May 20, 2026 [Founder's Notes](/blog/category/founders-notes) 6 min read ## [Who's Going to Take Care of Our Mental Health Workers?](/blog/mental-health-worker-crisis) Federal student loan policy is making it harder to become a mental health worker. We need to do something about it. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) May 06, 2026 [Founder's Notes](/blog/category/founders-notes) 6 min read ## [What is Loud Budgeting?](/blog/loud-budgeting) Learn how “loud budgeting” can help you reach your financial goals, especially when it comes to paying down student loans or building 529 college savings. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) Apr 22, 2026 [Founder's Notes](/blog/category/founders-notes) 6 min read ## [The Real Talk on Student Loans: An Open Letter to My Kids](/blog/real-talk-on-student-loans) Here’s what I want my kids to know about taking on student debt: how it really works, what it truly costs, and why you need to stay in control of it. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) Apr 08, 2026 [Founder's Notes](/blog/category/founders-notes) 3 min read ## [The 30-Year Trap: OBBBA is About to Make Student Loan Benefits Your Most Important Retention Tool](/blog/the-30-year-trap-obbba-student-loan-repayment) The One Big Beautiful Bill Act is about to change federal student loans – and your employees are going to feel it. Learn how you can boost your benefits package to keep your brightest staff. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) Mar 25, 2026 [Founder's Notes](/blog/category/founders-notes) 3 min read ## [Why Paychecks Alone Can’t Fix Student Debt](/blog/paychecks-cant-fix-student-debt) Employee debt-to-income ratios make it hard to get ahead of student loans. Learn how employers can invest in their best employees to keep them happy, productive, and thriving. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) Mar 11, 2026 --- # Our Blog - For Individuals URL: https://meetpaidly.com/blog/category/individuals Description: Paidly articles that focus on the individual for student loan repayment benefits. # For Individuals ## Recent articles [For Individuals](/blog/category/individuals) 4 min read ## [Education Benefits You Should Know About](/blog/education-benefits-you-should-know-about) Education benefits like 529 savings, tuition reimbursement, and student loan repayment can help you reduce education costs during every stage of your career. [](/blog/author/team-paidly)[Team Paidly](/blog/author/team-paidly) Aug 07, 2026 [For Individuals](/blog/category/individuals) 5 min read ## [ABLE Accounts and 529 Plans: A Flexible Savings Strategy](/blog/what-is-an-able-account-529a) Learn how 529 plans and ABLE accounts work together to make your savings even more supportive. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Jul 22, 2026 [For Individuals](/blog/category/individuals) 5 min read ## [How the Big Beautiful Bill Affects Student Savings](/blog/one-big-beautiful-bill-student-savings-changes) OBBBA expanded 529 plan uses, made ABLE provisions permanent, and introduced Trump Accounts. Here’s what you need to know. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) Jun 24, 2026 [For Individuals](/blog/category/individuals) 5 min read ## [How the One Big Beautiful Bill Affects Student Borrowers](/blog/one-big-beautiful-bill-student-loan-changes) OBBBA is reshaping federal student loans through reduced repayment plans, tighter hardship protections, and new borrowing caps. Here’s what you need to know. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) Jun 18, 2026 [For Individuals](/blog/category/individuals) 6 min read ## [Child Savings Accounts: Coverdell ESAs vs. 529 Plans vs. Trump Accounts](/blog/child-savings-accounts-529-coverdell-530A) Trump Accounts offer more flexibility but less tax advantages than 529 plans and Coverdell ESAs. Learn how these child savings options compare so you can pick the best fit for your child’s future. [](/blog/author/team-paidly)[Team Paidly](/blog/author/team-paidly) May 27, 2026 [For Individuals](/blog/category/individuals) 7 min read ## [Refinancing Student Loans](/blog/refinancing-student-loans) Refinancing can be a helpful way to reshape your student loans, but the right choice depends on your goals, your finances, and what you’re willing to trade off. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Apr 29, 2026 [For Individuals](/blog/category/individuals) 6 min read ## [Federal vs. Private Student Loans: What’s the Difference?](/blog/federal-vs-private-student-loans) One of the biggest decisions when it comes to student loans is whether to go federal or private. Learn the benefits and tradeoffs of each so you can choose the right fit for your repayment journey. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Apr 15, 2026 [For Individuals](/blog/category/individuals) 6 min read ## [Taking On Student Loans: The Ultimate Guide](/blog/ultimate-guide-to-taking-on-student-loans) Confused about student loans? We got you covered! Here’s everything you need to know to manage student debt with confidence. [](/blog/author/team-paidly)[Team Paidly](/blog/author/team-paidly) Apr 01, 2026 [For Individuals](/blog/category/individuals) 5 min read ## [How Much Income Do You Need to Afford Student Loan Payments?](/blog/how-much-income-do-you-need-to-afford-student-loan-payments) Learn how much the average household needs to live financially balanced with student debt. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Mar 18, 2026 123456 --- # Our Blog - Media Mentions URL: https://meetpaidly.com/blog/category/media-mentions Description: Articles and coverage about Paidly from across the web. # Media Mentions Featured [Media Mentions](/blog/category/media-mentions) 3 min read ## [Some Big News (and a Big Mission): Paidly is HR Tech Outlook’s "Student Loan Repayment Benefit of the Year"](/blog/student-loan-repayment-benefit-of-2026) Paidly was named Student Loan Repayment Benefit of the Year! Learn how we’re using that momentum to push for real change in how employers support employees with student debt. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully)Mar 04, 2026 [ ](/blog/student-loan-repayment-benefit-of-2026) --- # How to Get Employers to Pay for Student Loans URL: https://meetpaidly.com/blog/employers-student-loan-assistance-how-to-get-employers-to-pay-for-student-loans Description: Convince your boss that you deserve this benefit since it ultimately benefits the company by improved worker retention, recruiting, and productivity [Home](/ "Home")[Blog](/blog "Blog")[For Individuals](/blog/category/individuals "For Individuals")How to Get Employers to Pay for Student Loans # Employer Student Loan Assistance: How to Get Employers to Pay for Student Loans Student loan debt is a significant weight on individual graduates, while the aggregate total liability is an economic millstone on the broader U.S. society. [](/blog/author/team-paidly) [Team Paidly](/blog/author/team-paidly) Updated: Jul 14, 20258 min read [](https://www.facebook.com/sharer/sharer.php?u=https://meetpaidly.com/blog/employers-student-loan-assistance-how-to-get-employers-to-pay-for-student-loans "Share to Facebook") [](https://twitter.com/intent/tweet/?text=Employer%20Student%20Loan%20Assistance%3A%20How%20to%20Get%20Employers%20to%20Pay%20for%20Student%20Loans%20%20&url=https://meetpaidly.com/blog/employers-student-loan-assistance-how-to-get-employers-to-pay-for-student-loans "Share to Twitter") [](https://www.linkedin.com/sharing/share-offsite/?url=https://meetpaidly.com/blog/employers-student-loan-assistance-how-to-get-employers-to-pay-for-student-loans "Share to Linkedin") [](mailto:?Subject=Employer%20Student%20Loan%20Assistance%3A%20How%20to%20Get%20Employers%20to%20Pay%20for%20Student%20Loans%20%20&Body=Check%20this%20out%21%0Ahttps%3A%2F%2Fhttps://meetpaidly.com/blog/employers-student-loan-assistance-how-to-get-employers-to-pay-for-student-loans "Share to Email") * * * It may surprise some to learn that the total amount of outstanding student loans in America has surpassed both credit card debt and outstanding loan amounts for cars, SUVs, and trucks. In fact, educational debt is the second largest amount of consumer liability behind housing mortgages, according to data from the [U.S. Chamber of Commerce](https://www.chamberofcommerce.org/student-loan-statistics/) (COC). Over the past 30 years, the cost of college tuition has skyrocketed. [CNBC recently reported](https://www.cnbc.com/2021/10/27/college-tuition-is-now-rising-at-a-rate-lower-than-inflation.html) that in the 1990s, tuition accounted for approximately 25% of the overall operating budgets for colleges and universities, however, today tuition makes up 50% of those budgets showing a staggering increase in college coffers with students shouldering the increased budgetary burden. ## The Economic Burden of the Average College Graduate The current student loan crisis is causing financial stress and economic worry to millions of college graduates. The following collection of statistics from the COC are a stark reminder of the monetary maladies that grads are facing fresh out of school. - There is more than $1.76 trillion of student debt owed in the United States. - 60% of all students have incurred some amount of debt by graduation–either through direct government loans or private debt through financial institutions. - More than 44.5 million people across all demographics have educational debt. - 2 million of those people owe more than $100,000 and a half million have a loan for more than $200,000. - The average total of student loan debt for a four-year student that graduated in 2016 was $37,102 – a 78% increase from just 10 years earlier. - The average monthly payment on student loans was $393 in 2016, up from $227 in 2005. Basically, students graduating today that owe $37,000 could have instead financed: a new Audi A4, a Tesla Model 3, made a 10% down payment on a $370,000 home, or had enough to finance the opening of a Chick-fil-A restaurant. Instead, that pile of debt payment is an invisible monetary mountain they will struggle to overcome for years, possibly decades. ## The Solution Employers Can Offer Their Employees - Employer Paid Tuition and Student Loans Successfully completing that “higher education vision quest” is a necessary process to ensure economic viability for individuals and society at large, especially considering the digital age in which we now are living. However, the cost of that brighter future is a heavy burden that’s largely borne by the average graduate. [Harvard Business Review](https://hbr.org/2021/03/companies-can-and-should-help-employees-pay-student-loans) notes that its writers are hearing more and more from university presidents about a troubling increase in mental health issues on campuses due in part to economic insecurity. The student debt crisis intersects with mental well-being, the digital skills gap, growing income inequality, as well as diversity disparities — and requires innovative solutions by policymakers, institutions of higher education, and employers. Surprisingly, the role of prospective employers within the educational payment progression, and the associated funding conundrum, is often overlooked for some reason. Which doesn’t make a ton of sense, especially when you consider that when students invest in their education, their future employers benefit as much as the student. However, when it comes to parsing up the educational expenses of college graduates – employers are oddly absent from the discussion. While a portion of college education is subsidized by taxpayers through government programs it’s the actual students that cover the balance, through the tuition they pay and the debt they bear. The timing seems right for companies to step up and help carry the costs of the intellectual innovation that education conveys to businesses in the form of new graduates. ## How Employers Benefit from Payer Tuition and Student Loans While there are many reasons why employers should embrace the idea of paying down the student debt of their new hires, here are five direct benefits to their respective organizations that were featured in a recent article published in the [San Francisco Business Times](https://www.bizjournals.com/sanfrancisco/news/2021/01/19/5-reasons-employers-should-pay-student-debt.html), which provide a compelling rationale for any business owner to consider an [employer student loan repayment](/employer) benefit. 1. **Student loan debt hinders employee well-being and productivity** It’s not much of a stretch to know that employees with large amounts of student debt may have to delay other major events such as getting married, having kids, or buying a home due to the economic challenges of servicing their student loans. The news article states that some graduates say the stress of the debt messes with their sleep and negatively affects their productivity. Employers now have the opportunity to do their part to help ease the burden of those who feel trapped in debt, and in the process increase productivity, retention, and recruitment for their business. 2. **Minority groups carry a disproportionate amount of student debt** The article reports that employees across most minority groups have higher amounts of student loan debt. For instance, women hold 66% of all outstanding student debt. The average Black borrower carries $25,000 more in student debt than white graduates. While Latino borrowers hold 31% more student debt than their white peers. Business owners who have a passion to promote diversity in the workplace can show it by offering a student-loan payment benefit. 3. **Employer student loan payments for workers helps drive recruiting and retention** Employers become more competitive when they offer this benefit, as the journal article cited that employer payment for their workers’ student loan debt was the single most popular benefit for Millennials and Generation Z employees. As more companies begin to offer it as a perk, other employers will need to follow suit if they want to attract the best talent pool and keep them on the payroll. 4. **The results of offering a student debt payment benefit can be profound** The news story correctly notes that the employer contribution is in addition to what the employee pays each month themselves to service the student loans, but the employer’s contribution goes directly to paying down the principal since the employees payments already capture the monthly interest due. That makes a significant difference in reducing the duration of the total loan and overall interest paid, saving thousands of dollars over the life of the loan. So for a minimal investment by employers, companies get a much happier and more productive worker. 5. **Student loan benefits are tax-free** Employers can now make payments [tax-free](/tax-free) of up to $5,250 a year per employee. This benefit allows both employers and employees to sidestep federal payroll and income taxes on the student loan contributions, regardless if the loan is private, federal, or a refi. Not only is it a [tax-free](/tax-free) benefit, the employer can also write off the total annual contribution it makes on behalf of each employee as a business expense, which helps reduce their overall tax bill. Because of all these benefits, student debt paydowns are becoming increasingly attractive to employers who are focusing more and more on the financial well-being of their workers. ## How to Convince Your Boss That You Deserve This Benefit In fact, financial wellness of employees is becoming more of a priority among employers and business owners who are beginning to see their employees as the most valuable resource of any business. Offering an employer paid [student loan benefit](/blog/why-employers-should-offer-student-loan-repayment) is a proven way to enhance the financial wellness of workers by reducing mental stress and worry that’s associated with carrying thousands of dollars in educational debt. To that end, the fourth annual Employee Benefit Research Institute (EBRI) [Financial well-being Employer Survey](https://www.ebri.org/docs/default-source/ebri-issue-brief/ebri_ib_544_fwes2021-28oct21.pdf?sfvrsn=51443b2f_4) shows that financial well-being programs have become more comprehensive, with a top focus of reducing employees’ financial stress and increasing productivity. The survey results show that the primary benefits that employers offer their workers are based on addressing health, medical, and physical needs as well as basic finance and budgeting skills. Here are the top 10 reasons that surveyed employers gave for improving the financial well-being of their workers. - Improved Overall Worker Satisfaction: 37% - Increased Employee Productivity: 32% - Reduced Employee Financial Stress: 28% - Reduced Health Care Costs: 24% - Improved Employee Retention (e.g. lower workforce turnover): 23% - Improved Employee Use of Existing Benefits: 22% - Improved Employee Recruitment: 20% - Reduced Employee Absenteeism: 16% - Differentiator From Our Competitors: 15% - Prevention of early retirement: 12% Based on these findings, it’s clear to see that business owners and employers see the tangible benefits of enhancing the financial well-being of employees - as exemplified by providing a student debt reduction benefit to their rank and file. ## How Employee-Paid Benefits Can Help You Defer or Eliminate Your College Debt Since that employer amount is paying down principle, you greatly accelerate the retirement of your college debt. Additionally, since you’re also making your own monthly payments you’re supercharging the debt paydown rate without any additional tax bite. It’s worth noting that your employer can even make the payments directly to you instead of to your loan servicer, which could make more sense for you depending on the payment plan you're on. For instance, direct payment of that benefit to you could be significant if you’re a civil service employee or government worker with hundreds of thousands of dollars worth of student debt. Because direct payment of the employer student debt payment to you, could enable you to better manage payments if you’re pursuing the [Public Service Loan Forgiveness (PSLF) program as a public employee](/blog/navigating-public-student-loan-forgiveness). The PSLF has many requirements to qualify, but if program participants make 120 monthly payments on time, the entire remaining balance of the loan is forgiven - regardless of how much it is. #### Table of Contents - #### Let's Talk Repayment Benefits Talk to one of our team of experts that will answer any questions [Talk to an Expert](/contact-sales) [](/blog/author/team-paidly) #### [Team Paidly](/blog/author/team-paidly) Paidly is the go-to platform for rising above student debt. We specialize in innovative solutions, such as employer student loan assistance benefits, streamlined 529 plan contributions, and crowdfunding tools for individuals and their families. Backed by nearly two decades of experience in financial technology, Paidly is committed to simplifying student loan repayment, reducing loan dependency, and empowering students to take control of their finances no matter where they are in their educational journey. [](https://www.linkedin.com/company/meetpaidly/ "LinkedIn")[](https://www.facebook.com/meetpaidly "Facebook")[](https://www.instagram.com/meetpaidly/ "Instagram")[](https://twitter.com/meetpaidly "Twitter")[](https://www.youtube.com/@paidly "YouTube")[](https://www.tiktok.com/@meetpaidly "TikTok") #### Stay Ahead of the Curve Get the latest insights on student loan repayment, 529 contributions, and maximizing employer benefits delivered to your inbox. Join the list By submitting your email, you agree to receive emails from Paidly and acknowledge that you can unsubscribe at any time. * * * The information provided is of a general nature and an educational resource. It is not intended to provide advice or address the situation of any particular individual or entity. Any recipient shall be responsible for the use to which it puts this document. Paidly shall have no liability for the information provided. While care has been taken to produce this document, Paidly does not warrant, represent or guarantee the completeness, accuracy, adequacy, or fitness with respect to the information contained in this document. The information provided does not reflect new circumstances, or additional regulatory and legal changes. The issues addressed may have legal, financial, and health implications, and we recommend you speak to your legal, financial, and health advisors before acting on any of the information provided. ### You may also like [Founder's Notes](/blog/category/founders-notes) 5 min read ## [The HR Guide to Using Your Entire Education Budget](/blog/the-hr-guide-to-using-your-entire-education-budget) Your education budget can do a lot more than just pay for tuition. Learn how adding student loan repayment can expand your benefits without expanding your budget. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) Aug 26, 2026 [For Individuals](/blog/category/individuals) 4 min read ## [Education Benefits You Should Know About](/blog/education-benefits-you-should-know-about) Education benefits like 529 savings, tuition reimbursement, and student loan repayment can help you reduce education costs during every stage of your career. [](/blog/author/team-paidly)[Team Paidly](/blog/author/team-paidly) Aug 07, 2026 [For Individuals](/blog/category/individuals) 5 min read ## [ABLE Accounts and 529 Plans: A Flexible Savings Strategy](/blog/what-is-an-able-account-529a) Learn how 529 plans and ABLE accounts work together to make your savings even more supportive. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Jul 22, 2026 --- # Fixed or Variable Student Loans: Find Your Perfect Fit URL: https://meetpaidly.com/blog/fixed-vs-variable-student-loans Description: Uncertain about fixed or variable student loans? Explore the pros and cons of each option and make the best decision for your financial success. [Home](/ "Home")[Blog](/blog "Blog")[For Individuals](/blog/category/individuals "For Individuals")Fixed or Variable Student Loans: Find Your Perfect Fit # Student Loan Variable or Fixed: Which is Right for You? Deciding between a variable or fixed student loan rate might feel like a gamble, but don't worry! We are here to help you make an informed choice that suits your needs and financial goals. [](/blog/author/team-paidly) [Team Paidly](/blog/author/team-paidly) Updated: Jul 12, 20245 min read [](https://www.facebook.com/sharer/sharer.php?u=https://meetpaidly.com/blog/fixed-vs-variable-student-loans "Share to Facebook") [](https://twitter.com/intent/tweet/?text=Student%20Loan%20Variable%20or%20Fixed%3A%20Which%20is%20Right%20for%20You%3F&url=https://meetpaidly.com/blog/fixed-vs-variable-student-loans "Share to Twitter") [](https://www.linkedin.com/sharing/share-offsite/?url=https://meetpaidly.com/blog/fixed-vs-variable-student-loans "Share to Linkedin") [](mailto:?Subject=Student%20Loan%20Variable%20or%20Fixed%3A%20Which%20is%20Right%20for%20You%3F&Body=Check%20this%20out%21%0Ahttps%3A%2F%2Fhttps://meetpaidly.com/blog/fixed-vs-variable-student-loans "Share to Email") ## Key Takeaways - Whether a student loan is variable or fixed can greatly impact the repayment journey. - Fixed rates offer stability in monthly payments. - Variable rates can offer lower initial payments but come with unpredictability. - Use Student Loan Repayment Benefits through [Paidly](/employee) to supplement your choice * * * ## Fixed-Rate Student Loans: Steady and Stable ### What Are Fixed-Rate Student Loans? Fixed-rate student loans maintain a consistent [interest rate](/blog/how-does-student-loan-interest-work), ensuring minimum monthly payments remain the same over the loan's life. As a general rule, borrowers prefer fixed-rate loans for their reliability and rate insurance over long-term loans. ### Pros of Fixed-Rate Loans - **Predictable monthly payments** - **Unchanging interest rate** - **[Easily calculated total repayment amount](/blog/how-does-student-loan-interest-work)** ### Cons of Fixed-Rate Loans - **Unable to take advantage of reduced market rates** - **Starting with higher interest rates** - **Potentially paying more over the loan's life** ## Variable-Rate Student Loans: A Dynamic Option ### What Are Variable-Rate Student Loans? Variable-rate student loans have interest rates that fluctuate over time, typically based on market conditions and economic factors. Initial payments may start lower than with fixed rates, but keep in mind that these can change. If you're a risk-taker who's optimistic about future market trends, this option might be more in line with your financial ethos. ### Pros of Variable-Rate Loans - **Generally lower starting interest rates** - **Potential to save money over the loan's life** - **Paying more towards the principal balance** ### Cons of Variable-Rate Loans - **Rising interest rates** - **Unpredictable monthly payments** - **Lack of total repayment amount clarity** ## Who benefits from Fixed-Rate Student Loans? For those who value consistency, fixed-rate student loans can offer considerable benefits. These loans provide predictable, consistent payment plans, much like a well-balanced meal delivers a variety of essential nutrients. You'll enjoy fewer surprises from shifting market rates and manageable, identical payments each time. Consider Kim's recent graduation situation. Having secured a steady job, she's now focused on careful budgeting and maintaining control over her finances. Opting for a fixed-rate loan, Kim can confidently plan her monthly expenses, knowing that her student loan payment will remain consistent. It's as reassuring as her favorite playlist – familiar and steady, with no unexpected twists. In conclusion, embracing stability and a strategic approach to financial planning can make fixed-rate student loans an optimal choice. These loans empower you to plan your financial journey with certainty and confidence. Remember, the path to financial freedom isn't about finding a prize at the end of the rainbow – it's built on informed decisions that set the course for lasting success. ## Who Benefits from Variable-Rate Student Loans? The young and adventurous might find variable-rate student loans appealing. If you expect your income to rise or can pay off the loan quickly, taking a gamble on a variable rate could save you significant bucks. ## Switching Between Fixed and Variable Rates ### Can You Switch Between Loan Types? Switching between fixed and variable rates is possible with some lenders, including [Earnest](https://www.earnest.com), They make it easy without fees, but credit checks are required. Expect new interest rates based on prevailing loan rates and financial profiles. ### Options for Federal Student Loans Federal student loans have fixed interest rates throughout the loan term. Refinancing with another provider is possible for private student loans. A better credit score or a cosigner can help secure lower rates. ## Choosing Between Fixed or Variable Student Loans Fixed-rate student loans offer peace of mind in the form of unwavering, predictable payments. On the other hand, variable-rate loans come with the potential for lower initial rates and faster repayment, but they might be more uncertain.     Here are some factors to consider: - **Type of loan**: Federal loans have fixed interest rates, while private loans often offer both fixed and variable options. - **Repayment timeline:** Longer repayment periods mean more time for variable rates to fluctuate, so keep your intended repayment duration in mind. - **Market conditions:** If rates are rising or falling, it could impact what you end up paying. - **Risk tolerance:** Are you comfortable with the uncertainty of fluctuating payments? ### Opt for Variable-Rate Loans If: - You desire lower initial payments - You plan on quick loan repayment - You plan to refinance when interest rates are lower ### Opt for Fixed-Rate Loans If: - You prefer predictable payments - You desire a locked-in interest rate - You want to know the exact total you’ll pay on your loan ## Selecting the Perfect Student Loan Deciding between fixed or variable student loans is a critical choice dependent on individual needs and financial circumstances. Analyze factors such as repayment plans, financial stability, and risk tolerance before settling on the ideal option. Fixed-rate loans offer steady payments, ideal for those who value predictability. while variable-rate loans are alluring for those targeting lower initial rates and who plan to pay off loans promptly. Always ensure your decision aligns with your financial goals and strategy. ## Use Student Loan Repayment Benefits to supplement your choice No matter which option you choose, repayment can be made easier through Paidly! Our platform [helps employers offer Student Loan Repayment as an employee Benefit.](/employer) [Employers can contribute tax-exempt](/tax-free) up to $5,250 per year to employees' student loans, providing welcome relief for both fixed and variable student loan borrowers. #### Table of Contents - #### Let's Talk Repayment Benefits Talk to one of our team of experts that will answer any questions [Talk to an Expert](/contact-sales) [](/blog/author/team-paidly) #### [Team Paidly](/blog/author/team-paidly) Paidly is the go-to platform for rising above student debt. We specialize in innovative solutions, such as employer student loan assistance benefits, streamlined 529 plan contributions, and crowdfunding tools for individuals and their families. Backed by nearly two decades of experience in financial technology, Paidly is committed to simplifying student loan repayment, reducing loan dependency, and empowering students to take control of their finances no matter where they are in their educational journey. [](https://www.linkedin.com/company/meetpaidly/ "LinkedIn")[](https://www.facebook.com/meetpaidly "Facebook")[](https://www.instagram.com/meetpaidly/ "Instagram")[](https://twitter.com/meetpaidly "Twitter")[](https://www.youtube.com/@paidly "YouTube")[](https://www.tiktok.com/@meetpaidly "TikTok") #### Stay Ahead of the Curve Get the latest insights on student loan repayment, 529 contributions, and maximizing employer benefits delivered to your inbox. Join the list By submitting your email, you agree to receive emails from Paidly and acknowledge that you can unsubscribe at any time. * * * The information provided is of a general nature and an educational resource. It is not intended to provide advice or address the situation of any particular individual or entity. Any recipient shall be responsible for the use to which it puts this document. Paidly shall have no liability for the information provided. While care has been taken to produce this document, Paidly does not warrant, represent or guarantee the completeness, accuracy, adequacy, or fitness with respect to the information contained in this document. The information provided does not reflect new circumstances, or additional regulatory and legal changes. The issues addressed may have legal, financial, and health implications, and we recommend you speak to your legal, financial, and health advisors before acting on any of the information provided. ### You may also like [Founder's Notes](/blog/category/founders-notes) 5 min read ## [The HR Guide to Using Your Entire Education Budget](/blog/the-hr-guide-to-using-your-entire-education-budget) Your education budget can do a lot more than just pay for tuition. Learn how adding student loan repayment can expand your benefits without expanding your budget. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) Aug 26, 2026 [For Individuals](/blog/category/individuals) 4 min read ## [Education Benefits You Should Know About](/blog/education-benefits-you-should-know-about) Education benefits like 529 savings, tuition reimbursement, and student loan repayment can help you reduce education costs during every stage of your career. [](/blog/author/team-paidly)[Team Paidly](/blog/author/team-paidly) Aug 07, 2026 [For Individuals](/blog/category/individuals) 5 min read ## [ABLE Accounts and 529 Plans: A Flexible Savings Strategy](/blog/what-is-an-able-account-529a) Learn how 529 plans and ABLE accounts work together to make your savings even more supportive. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Jul 22, 2026 --- # 5 Trends Transforming Employee Loan Assistance URL: https://meetpaidly.com/blog/future-employee-student-loan-assistance-trends Description: Explore the latest trends in employee student loan assistance programs and how they're evolving to better support employees' financial wellness. [Home](/ "Home")[Blog](/blog "Blog")[For Employers](/blog/category/employers "For Employers")5 Trends Transforming Employee Loan Assistance # 5 Emerging Trends Shaping the Future of Employee Student Loan Assistance Uncover 5 trends revolutionizing employee student loan aid and secure a brighter financial future. [](/blog/author/team-paidly) [Team Paidly](/blog/author/team-paidly) Updated: Jul 17, 20233 min read [](https://www.facebook.com/sharer/sharer.php?u=https://meetpaidly.com/blog/future-employee-student-loan-assistance-trends "Share to Facebook") [](https://twitter.com/intent/tweet/?text=5%20Emerging%20Trends%20Shaping%20the%20Future%20of%20Employee%20Student%20Loan%20Assistance&url=https://meetpaidly.com/blog/future-employee-student-loan-assistance-trends "Share to Twitter") [](https://www.linkedin.com/sharing/share-offsite/?url=https://meetpaidly.com/blog/future-employee-student-loan-assistance-trends "Share to Linkedin") [](mailto:?Subject=5%20Emerging%20Trends%20Shaping%20the%20Future%20of%20Employee%20Student%20Loan%20Assistance&Body=Check%20this%20out%21%0Ahttps%3A%2F%2Fhttps://meetpaidly.com/blog/future-employee-student-loan-assistance-trends "Share to Email") ## Key Takeaways - **Smaller Companies Joining the Trend:** Initially, employee student loan assistance was viewed as a perk offered by well-funded, large-scale companies. In recent times, small to mid-sized companies have begun adopting this benefit, expanding the reach of this financial assistance. - **Diverse Range of Assistance Programs:** Organizations are broadening how they provide student loan assistance in order to attract and retain talent. The range of offerings includes direct financial assistance, refinancing programs, and education resources. - **Integration of Benefits:** There's an ongoing trend to link student loan assistance with other employee benefits such as health insurance and retirement savings plans. This amalgamation helps employees manage their finance more holistically. * * * As the cost of education continues to rise, student loan debt is becoming an increasingly important issue for many employees. With student loan debt now totaling over $1.8 trillion in the US alone, it’s no surprise that many companies are looking for ways to help their employees manage this burden. One innovative solution that has gained popularity in recent years is [student loan assistance as an employee benefit](/blog/benefits-of-workplace-student-loan-assistance), like one offered by Paidly. This benefit can take many forms, from direct financial assistance to refinancing programs and education resources. As more and more companies adopt a similar benefit, it’s important to keep an eye on emerging trends in the space. Here are a few to watch: ## 1\. Increased Adoption by Small and Mid-Sized Companies While student loan assistance was initially seen as a benefit only for large, well-funded companies, we’re now seeing more and more small and mid-sized companies adopt this benefit. This is great news for employees at smaller companies who may not have access to the same level of financial resources as their counterparts at larger organizations. Companies like Paidly are making it easier for businesses of all sizes to offer this valuable benefit. ## 2\. More Diverse Offerings As companies compete to attract and retain top talent, we’re seeing a wider range of student loan assistance offerings. This includes not just direct financial assistance, but also refinancing programs, education resources, and more. This increased diversity means that employees have more options to choose from, and can find the program that best fits their needs, such as the comprehensive solutions provided by Paidly. ## 3\. Integration with Other Benefits Student loan assistance is increasingly being integrated with other employee benefits, such as retirement savings plans and health insurance. This integration can help employees manage their finances more holistically, and can make it easier for them to take advantage of multiple benefits at once. Paidly's approach to employee benefits ensures seamless integration with existing programs. ## 4\. More Personalized Solutions As companies gather more data on their employees’ financial situations, we’re seeing more personalized student loan assistance solutions. This includes targeted financial counseling, customized repayment plans, and more. These personalized solutions, like those offered by Paidly, can help employees better manage their student loan debt, and can ultimately lead to better financial outcomes. ## 5\. Increased Focus on Financial Wellness Finally, we’re seeing a broader trend towards financial wellness in the workplace. This includes not just student loan assistance, but also other financial education resources and tools. By prioritizing financial wellness, companies like Paidly can help their employees achieve greater financial stability and peace of mind. Overall, the future of employee student loan assistance looks bright. As more and more companies adopt this benefit, we’re likely to see even more innovation and creativity in the space. Whether you’re an [employer](/employer) or an [employee](/employee), it’s worth keeping an eye on these trends and exploring how student loan assistance, such as the services offered by Paidly, can fit into your overall financial strategy. #### Table of Contents - #### Let's Talk Repayment Benefits Talk to one of our team of experts that will answer any questions [Talk to an Expert](/contact-sales) [](/blog/author/team-paidly) #### [Team Paidly](/blog/author/team-paidly) Paidly is the go-to platform for rising above student debt. We specialize in innovative solutions, such as employer student loan assistance benefits, streamlined 529 plan contributions, and crowdfunding tools for individuals and their families. Backed by nearly two decades of experience in financial technology, Paidly is committed to simplifying student loan repayment, reducing loan dependency, and empowering students to take control of their finances no matter where they are in their educational journey. [](https://www.linkedin.com/company/meetpaidly/ "LinkedIn")[](https://www.facebook.com/meetpaidly "Facebook")[](https://www.instagram.com/meetpaidly/ "Instagram")[](https://twitter.com/meetpaidly "Twitter")[](https://www.youtube.com/@paidly "YouTube")[](https://www.tiktok.com/@meetpaidly "TikTok") #### Stay Ahead of the Curve Get the latest insights on student loan repayment, 529 contributions, and maximizing employer benefits delivered to your inbox. Join the list By submitting your email, you agree to receive emails from Paidly and acknowledge that you can unsubscribe at any time. * * * The information provided is of a general nature and an educational resource. It is not intended to provide advice or address the situation of any particular individual or entity. Any recipient shall be responsible for the use to which it puts this document. Paidly shall have no liability for the information provided. While care has been taken to produce this document, Paidly does not warrant, represent or guarantee the completeness, accuracy, adequacy, or fitness with respect to the information contained in this document. The information provided does not reflect new circumstances, or additional regulatory and legal changes. The issues addressed may have legal, financial, and health implications, and we recommend you speak to your legal, financial, and health advisors before acting on any of the information provided. ### You may also like [Founder's Notes](/blog/category/founders-notes) 5 min read ## [The HR Guide to Using Your Entire Education Budget](/blog/the-hr-guide-to-using-your-entire-education-budget) Your education budget can do a lot more than just pay for tuition. Learn how adding student loan repayment can expand your benefits without expanding your budget. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) Aug 26, 2026 [For Individuals](/blog/category/individuals) 4 min read ## [Education Benefits You Should Know About](/blog/education-benefits-you-should-know-about) Education benefits like 529 savings, tuition reimbursement, and student loan repayment can help you reduce education costs during every stage of your career. [](/blog/author/team-paidly)[Team Paidly](/blog/author/team-paidly) Aug 07, 2026 [For Individuals](/blog/category/individuals) 5 min read ## [ABLE Accounts and 529 Plans: A Flexible Savings Strategy](/blog/what-is-an-able-account-529a) Learn how 529 plans and ABLE accounts work together to make your savings even more supportive. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Jul 22, 2026 --- # Give Your Employees A Tax-Free Bonus Using PTO Buyback URL: https://meetpaidly.com/blog/give-your-employees-a-tax-free-bonus-using-pto-buyback Description: Employers: Help your employees pay off their student loans with pre-tax dollars with PTO? It's convenient and easy – and the reward to them will be great. [Home](/ "Home")[Blog](/blog "Blog")[For Employers](/blog/category/employers "For Employers")Give Your Employees A Tax-Free Bonus Using PTO Buyback # How To Give Your Employees a Bonus This Year Using PTO Buyback Looking for a way to help your employees make a dent in their student loans? PTO buyback is an effective way of decreasing their monthly payments and wasting less money on interest. [](/blog/author/john-scully) [John Scully, CEO](/blog/author/john-scully) Updated: Jul 12, 20245 min read [](https://www.facebook.com/sharer/sharer.php?u=https://meetpaidly.com/blog/give-your-employees-a-tax-free-bonus-using-pto-buyback "Share to Facebook") [](https://twitter.com/intent/tweet/?text=How%20To%20Give%20Your%20Employees%20a%20Bonus%20This%20Year%20Using%20PTO%20Buyback&url=https://meetpaidly.com/blog/give-your-employees-a-tax-free-bonus-using-pto-buyback "Share to Twitter") [](https://www.linkedin.com/sharing/share-offsite/?url=https://meetpaidly.com/blog/give-your-employees-a-tax-free-bonus-using-pto-buyback "Share to Linkedin") [](mailto:?Subject=How%20To%20Give%20Your%20Employees%20a%20Bonus%20This%20Year%20Using%20PTO%20Buyback&Body=Check%20this%20out%21%0Ahttps%3A%2F%2Fhttps://meetpaidly.com/blog/give-your-employees-a-tax-free-bonus-using-pto-buyback "Share to Email") * * * The holiday season is upon us and it’s the perfect time to offer your employees a bonus. But you may not know what type of bonus would be best for them, or how to pay for it. Paidly can help! We can set up a PTO Buyback program for your company so that employees can take part in a tax-free paid time off (PTO) buyback program that offers a [lump sum payment to their student loan debt](/calculators/lump-sum-payment-calculator) with their left over accrued vacation days. It’s an easy way to incentivize employees while helping them save money at the same time. ## What is PTO Buyback? PTO Buyback or vacation buy back is a program that allows employees to convert their unused Paid Time Off (PTO) into cash in lieu of accrued PTO. With a Paidly Benefit Employees can choose to use the PTO they have not used from this year or from previous years and turn it into a lump sum student loan debt payment for themselves at the end of the year. For example, if someone has 100 hours of unused PTO from this year, they can have the employer convert those 100 hours into a lump sum extra payment to their student debt. If you're an employer and want to offer your employees a bonus for being awesome, this is one way you could do it. PTO Buyback Bonuses can be a great way to help your employees pay off student loans. We’re not saying that you should use PTO Buyback Bonuses as an excuse to give your employees a bonus, but we are saying that it’s a great way to help your employees have more money in their pockets each month to spend on things like student loan payments. ## Why Should I Offer A PTO Buyback Program To Employees? Americans on average leave 33% of their vacation on the table (Minogue, n.d.). The top reason being they feel guilty because they may already be working from home and because no one can take over the work they are already doing. So you might be asking yourself how this helps me as the employer? [Under the CARES Act](/blog/the-cares-act-and-how-it-could-change-the-future-of-student-loan-repayments) employers are now able to give up to $5,250 of [tax-free](/tax-free) money to employees by utilizing a 127 plan. Employee retention is the key to success. When employees leave, there are usually a number of reasons why they do so. You can't know what they are, but it's safe to assume that employee compensation is always one of them. - A PTO Buyback Program creates an incentive for employees to stay on with your company and continue growing with you long-term. This also gives them another reason not to go work somewhere else because they have something extra in their pockets that many other businesses don't offer: an option for receiving extra pay for taking less than the full amount of PTO when they need it most. - Employee engagement means more productivity and better performance from everyone within your organization as well as increased job satisfaction overall. Which can then lead directly to higher levels of loyalty among both current staff members as well as potential hires who could otherwise be swayed elsewhere by lower wages or benefits packages offered at competing companies looking for talent below market value pricing models ## Tax implications for the employer How great would it be to help your employees pay off their student loans with pre-tax dollars? It's convenient and easy – and the reward to them will be great. If you've already thought ahead about this and pre-allocated monies towards this, like so many others, you're ahead of the game! What better way is there to show your employees with student debt that you understand what they are going through? by jumping on this benefit allowing them to take advantage of this tax-free money and thus reap a larger reward. Current buybacks are taxed and thus the individual sees less than they would if it was put towards student loans. [The IRS Section 127 plan allows employers](/blog/understanding-section-127-plan) to offer PTO buyback bonuses to help employees pay off student loans. This can be done in the form of a [tax-free](/tax-free) bonus, which will go a long way toward helping employees reduce their student debt. With this plan, an employer can pay up to **$5,250** per employee per year tax-free. ## Why should you consider offering PTO buyback to your employees? If you haven’t considered a PTO buyback or cash-out here is why you should. For forward-thinking companies, employees are the greatest commodity for an organization. We need to show those employees that we value their time and their sacrifice. If an employee is willing to forgo taking vacation so that productivity stays high or to hit deadlines we should show them our appreciation. Outside of bonuses one easy way to do this is PTO conversion to student loan debt. This is a win-win for both parties as the monies become a tax-free payment. Decreasing the burden on the organization as well as giving the employee more money towards their student loan debt. If an employee had 10,000 outstanding on a loan with 6% interest with a $112 monthly payment; you could save them over $2,500 of interest and [knock off almost 5 years of that loan payment](/calculators/lump-sum-payment-calculator). ## Send the payments directly to the student loan servicer We're excited to help you provide this benefit to your employees. [Paidly](/) can help you not only with facilitating these PTO conversions or bonus payouts to student loan debt but also provide sample 127 plans, sample tweets and social media posts to help promote this offering to your employees and future employees. This has helped many of our clients with recruitment and retention. [Get started](https://app.meetpaidly.com/get-started) today, or [reach out](/contact-sales) and someone from our team of experts will be in touch to answer any questions or provide you a demo. #### Table of Contents - #### Let's Talk Repayment Benefits Talk to one of our team of experts that will answer any questions [Talk to an Expert](/contact-sales) [](/blog/author/john-scully) #### [John Scully, CEO](/blog/author/john-scully) John Scully is a seasoned executive leader with a strong background in business operations and technology. As Co-Founder of Paidly Student Loan Benefits, he empowers employers to enhance talent recruitment and retention through a cloud-based platform that allows tax-free student loan payments. With experience in industries like healthcare and fintech, John has held leadership positions at companies such as Sharp Notions and the University of Rochester Medical Center. Holding an MBA from the University of Rochester and a B.S. from Excelsior College, John is dedicated to helping organizations and individuals navigate the complexities of Fintech, especially student loan payments. [](https://www.linkedin.com/in/johnscully282/ "LinkedIn") #### Stay Ahead of the Curve Get the latest insights on student loan repayment, 529 contributions, and maximizing employer benefits delivered to your inbox. Join the list By submitting your email, you agree to receive emails from Paidly and acknowledge that you can unsubscribe at any time. * * * The information provided is of a general nature and an educational resource. It is not intended to provide advice or address the situation of any particular individual or entity. Any recipient shall be responsible for the use to which it puts this document. Paidly shall have no liability for the information provided. While care has been taken to produce this document, Paidly does not warrant, represent or guarantee the completeness, accuracy, adequacy, or fitness with respect to the information contained in this document. The information provided does not reflect new circumstances, or additional regulatory and legal changes. The issues addressed may have legal, financial, and health implications, and we recommend you speak to your legal, financial, and health advisors before acting on any of the information provided. ### You may also like [Founder's Notes](/blog/category/founders-notes) 5 min read ## [The HR Guide to Using Your Entire Education Budget](/blog/the-hr-guide-to-using-your-entire-education-budget) Your education budget can do a lot more than just pay for tuition. Learn how adding student loan repayment can expand your benefits without expanding your budget. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) Aug 26, 2026 [For Individuals](/blog/category/individuals) 4 min read ## [Education Benefits You Should Know About](/blog/education-benefits-you-should-know-about) Education benefits like 529 savings, tuition reimbursement, and student loan repayment can help you reduce education costs during every stage of your career. [](/blog/author/team-paidly)[Team Paidly](/blog/author/team-paidly) Aug 07, 2026 [For Individuals](/blog/category/individuals) 5 min read ## [ABLE Accounts and 529 Plans: A Flexible Savings Strategy](/blog/what-is-an-able-account-529a) Learn how 529 plans and ABLE accounts work together to make your savings even more supportive. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Jul 22, 2026 --- # Thrive with Income-Driven Plan Insights URL: https://meetpaidly.com/blog/income-driven-repayment-plans Description: Dive into Income-Driven Plans with us! Discern advantages, understand potential risks and find a pathway that aligns with your financial aspirations. [Home](/ "Home")[Blog](/blog "Blog")[For Individuals](/blog/category/individuals "For Individuals")Thrive with Income-Driven Plan Insights # Your Guide to Income-Driven Repayment (IDR) Options Discover how income-driven repayment plans (IDR) can ease your student loan repayment process and understand some potential challenges to be aware of. [](/blog/author/team-paidly) [Team Paidly](/blog/author/team-paidly) Updated: Jul 14, 20259 min read [](https://www.facebook.com/sharer/sharer.php?u=https://meetpaidly.com/blog/income-driven-repayment-plans "Share to Facebook") [](https://twitter.com/intent/tweet/?text=Your%20Guide%20to%20Income-Driven%20Repayment%20\(IDR\)%20Options&url=https://meetpaidly.com/blog/income-driven-repayment-plans "Share to Twitter") [](https://www.linkedin.com/sharing/share-offsite/?url=https://meetpaidly.com/blog/income-driven-repayment-plans "Share to Linkedin") [](mailto:?Subject=Your%20Guide%20to%20Income-Driven%20Repayment%20\(IDR\)%20Options&Body=Check%20this%20out%21%0Ahttps%3A%2F%2Fhttps://meetpaidly.com/blog/income-driven-repayment-plans "Share to Email") ## Key Takeaways - Discover how income-driven repayment plans adjust your student loan payments to your financial circumstances. - Lay the groundwork of the criteria to qualify for IDR plans and choose the right one for you. - Get to grips with potential pitfalls of IDR plans such as increased debt term, accumulating interest and likely tax implications on the forgiven amount. - Your organization can help with a student loan repayment assistance benefit. * * * _**This article may be out-of-date due to recent legislative changes. For updated information regarding federal student loan repayment options, see StudentAid's [IDR Plan Court Actions: Impact on Borrowers](https://studentaid.gov/announcements-events/idr-court-actions) page.**_ The recent block on [Biden's Student Loan Forgiveness Plan](/blog/supreme-court-blocks-biden-student-loan-forgiveness) and [the end of the federal student loan freeze](/blog/student-loan-payment-pause-facts-next-steps) are increasing financial stress, and rightly so! A surprising fact is that only **18% of the 45 million** federal student loan borrowers have continued payments during this repayment break. This means that a whopping **82% of borrowers** will soon have to restart payments, an expense they've not had for a while. In light of this, income-driven repayment (IDR) plans are increasingly in the spotlight. Introduced by the [Obama Administration in 2010](https://obamawhitehouse.archives.gov/blog/2012/06/07/income-based-repayment-everything-you-need-know), they've been helping many students navigate the repayment process. So let's explore what IDR plans are about, and their benefits and challenges. ## What are Income-Driven Repayment (IDR) Plans? Income-driven repayment (IDR) Plans. These plans base your monthly student loan payments on your income and family size, creating a sense of relief by aligning your payments with your financial capabilities. Beware, [by 2023, there are possible changes to the Revised Pay As You Earn (REPAYE) repayment plan by the Biden administration](https://www2.ed.gov/policy/highered/reg/hearulemaking/2021/idrfactsheetfin.pdf), which could affect your repayment roadmap. Stay tuned for updates that could influence your repayment strategy. ## Understanding the Good and the Bad of Income-driven Repayments While IDR plans certainly have benefits, they also come with potential downfalls: **Benefits:** - **Reduced monthly payments:** Payments are a percentage of your discretionary income, aligning perfectly with your budget. - **Potential loan forgiveness:** After 20-25 years of payments under your IDR plan, the remaining balance might be forgiven. - **Flexibility:** Diverse IDR plans can cater to various financial situations. **Possible Pitfalls:** - **Extended debt lifetime:** Lower payments could mean you remain in debt for longer. - **Interest accumulation:** Over time, you might end up repaying more due to the amount of interest. - **Tax implications:** The forgiven amount could be taxable. Getting the best IDR to meet your financial demands means considering both the benefits and drawbacks. ## Do You Qualify for an Income-Driven Repayment Plan? To qualify for an IDR plan, certain conditions must be fulfilled: - **Federal student loans:** Only Direct Loans and Federal Family Education Loan (FFEL) Program loans qualify for IDR plans. - **Financial need:** Your current minimum monthly payment must exceed what you would pay under an IDR plan. Also, it's crucial to understand the eligibility criteria, payment amount, and forgiveness timeline for each type of IDR plan. Certain plans cater to specific borrower needs. ## Choosing the Ideal Plan - Balance Your Needs and Income Several IDR plans exist, with each offering different advantages. Plans such as Pay As You Earn (PAYE), Revised Pay As You Earn (REPAYE), Income-Based Repayment (IBR), and Income-Contingent Repayment (ICR). Here's a basic breakdown of how they compare: ### How Do I Calculate Discretionary Income? Take your disposable income, which is the amount of money after taxes left, for example, in your paycheck. Subtract all of your necessities like paying for rent or housing, student loans, utilities, and food, and whatever is left over to spend, save, or invest is your discretionary income. ### Pay As You Earn (PAYE) The PAYE plan sets a high bar for borrowers to demonstrate they're experiencing 'partial financial hardship', implying an inability to afford standard repayments. This plan also caters to those holding direct loans issued after October 2007. **Pros:** - Our research shows that the PAYE plan can significantly reduce monthly payments for those who qualify. - Payments are based on your income and family size, making this plan inherently fair and equitable. **Cons:** - The eligibility requirements are quite stringent, meaning not everyone will qualify. - If your income increases over time, your payments might rise as well. ## Latest Developments in Student Loan Relief: Biden's (SAVE) Plan (Formally REPAYE) In a significant update for student loan borrowers, the Biden administration announced the **Saving on a Valuable Education (SAVE) plan** in July 2023, effectively replacing the existing REPAYE plan. Here are the key features of the new SAVE plan: - **Higher Income Exemption**: The income exemption threshold is increased from 150% to **225% of the poverty line**. - **No Unpaid Interest Accrual**: Borrowers need not worry about unpaid interest for both subsidized and unsubsidized loans, provided scheduled payments are made. - **Spousal Income Exclusion**: For married borrowers who file separately, **spousal income is excluded** from calculations. Additional modifications to the plan are anticipated, expected to take effect in the summer of 2024. ### Key Highlights from the White House: - **Lower Monthly Payments**: This plan cuts the amount borrowers have to pay each month for undergraduate loans from 10% to 5% of discretionary income. - **Balance Forgiveness**: Loan balances will be forgiven after 10 years of payments for those with original loan balances of $12,000 or less. - **Temporary "On-Ramp" to Repayment**: A 12-month “on-ramp” from October 1, 2023, to September 30, 2024, will be instituted. Borrowers who miss monthly payments during this period will not be considered delinquent and will not be reported to credit bureaus, placed in default, or referred to debt collection agencies. The SAVE plan ensures a more manageable repayment process for borrowers and reflects the administration’s continued commitment to making post-secondary education accessible and affordable for all. For more detailed information, you can refer to the [official fact sheet released by the White House](https://www.whitehouse.gov/briefing-room/statements-releases/2023/06/30/fact-sheet-president-biden-announces-new-actions-to-provide-debt-relief-and-support-for-student-loan-borrowers/). ### Income-Based Repayment (IBR) A personalized solution, the IBR program considers factors like your adjusted gross income (AGI), family size, and your state of residence to create a distinct repayment plan for each borrower. **Pros:** - This plan is flexible, adjusting to your unique financial situation. - It caps your repayment amount at a percentage of your discretionary income, usually 10-15%. **Cons:** - Requirement to demonstrate 'partial financial hardship' - Any forgiven amount after the repayment period can be considered taxable. ### Income-Contingent Repayment (ICR) With ICR, borrowers are promised access to Federal government-backed [student loan benefits](/blog/why-employers-should-offer-student-loan-repayment). This plan requires a borrower to make at least 120 payments as part of the Direct Loan program. **Pros:** - This plan’s eligibility criteria are less strict than other income-driven repayment plans. - Parent PLUS loans can qualify after consolidation. **Cons:** - Payments under this plan can be higher than others. - Only federal government-guaranteed student loans qualify. By comparing these plans, you're better equipped to take a big leap towards financial wellness. Understanding the pros and cons can help you make the best decision for your future. ## What Are The Possible New Changes to Income-driven Repayment in 2023? On January 10, 2023, [the Department of Education put forth a suggested update to the income-driven repayment (IDR) plan](https://www2.ed.gov/policy/highered/reg/hearulemaking/2021/idrfactsheetfin.pdf). If approved, this plan would replace the current REPAYE plan and could potentially enable an impressive 85% of student loan borrowers to become debt-free within a 10-year period. Let's explore some notable features of this proposed updated REPAYE plan: - Single borrowers **earning less than $30,500 per year** (or $62,400 for a family of four) won't have a required monthly payment. - Other borrowers may have the opportunity to reduce their monthly payments by at least half, resulting in an average annual savings of approximately $2,000 for a four-year public university graduate when compared to the current REPAYE plan. - Borrowers with **$12,000 or less** in debt will be eligible for student loan forgiveness after 10 years, as opposed to the current waiting **period of 20 to 25 years**. An extra year will be added for each $1,000 above that amount. - For those who pay less than the monthly interest charge on their loans, the government will cover the remaining interest. The aim of this revised IDR plan is to simplify student loan repayments by gradually phasing out new enrollments in PAYE and ICR plans and limiting borrowers' ability to switch to the IBR plan later on. The Department of Education targets finalizing the new REPAYE plan by the end of 2023. ## How to Apply for an Income-Driven Repayment Plan? Starting your journey with an IDR plan involves the following steps: - Apply online on [StudentAid.gov](https://studentaid.gov/idr/) or request a paper application from your loan servicer. - Provide your income details (typically using your tax return information) and family size. - Select your preferred IDR plan or request the lowest possible payment. Make sure to update your income and family size every year to maintain your eligibility for the plan. ## Student Loan Forgiveness - Is it for You? If you can't repay your full student loan within your IDR plan term (typically 20-25 years), the remaining balance may be forgiven. However, keep in mind that this forgiven amount could be treated as taxable income. Its also important to take note that only about 11% of borrowers qualify for their loan debt to be forgiven after the 20-25 years. ## Get Help From Your Organization’s Student Loan Repayment Assistance Benefit Remember—student loan repayment doesn't have to be daunting. Are you eligible for the IDR plan? You're one step closer to achieving your financial wellness. Your organizations's [student loan repayment assistance platform can be a valuable resource](/blog/benefits-of-workplace-student-loan-assistance) for managing your student loan payments. This benefit can not only help employees achieve financial goals faster but also equip employers in attracting and retaining top talent. Not all employers offer or even know about this benefit. [So reach out to your HR or Benefits manager and let them meet Paidly](/blog/4-steps-on-how-to-ask-your-employer-to-repay-student-loans). Combine the power of an appropriate IDR plan with your company's student loan repayment assistance platform to take control of your financial future. #### Table of Contents - #### Let's Talk Repayment Benefits Talk to one of our team of experts that will answer any questions [Talk to an Expert](/contact-sales) [](/blog/author/team-paidly) #### [Team Paidly](/blog/author/team-paidly) Paidly is the go-to platform for rising above student debt. We specialize in innovative solutions, such as employer student loan assistance benefits, streamlined 529 plan contributions, and crowdfunding tools for individuals and their families. Backed by nearly two decades of experience in financial technology, Paidly is committed to simplifying student loan repayment, reducing loan dependency, and empowering students to take control of their finances no matter where they are in their educational journey. [](https://www.linkedin.com/company/meetpaidly/ "LinkedIn")[](https://www.facebook.com/meetpaidly "Facebook")[](https://www.instagram.com/meetpaidly/ "Instagram")[](https://twitter.com/meetpaidly "Twitter")[](https://www.youtube.com/@paidly "YouTube")[](https://www.tiktok.com/@meetpaidly "TikTok") #### Stay Ahead of the Curve Get the latest insights on student loan repayment, 529 contributions, and maximizing employer benefits delivered to your inbox. Join the list By submitting your email, you agree to receive emails from Paidly and acknowledge that you can unsubscribe at any time. * * * The information provided is of a general nature and an educational resource. It is not intended to provide advice or address the situation of any particular individual or entity. Any recipient shall be responsible for the use to which it puts this document. Paidly shall have no liability for the information provided. While care has been taken to produce this document, Paidly does not warrant, represent or guarantee the completeness, accuracy, adequacy, or fitness with respect to the information contained in this document. The information provided does not reflect new circumstances, or additional regulatory and legal changes. The issues addressed may have legal, financial, and health implications, and we recommend you speak to your legal, financial, and health advisors before acting on any of the information provided. ### You may also like [Founder's Notes](/blog/category/founders-notes) 5 min read ## [The HR Guide to Using Your Entire Education Budget](/blog/the-hr-guide-to-using-your-entire-education-budget) Your education budget can do a lot more than just pay for tuition. Learn how adding student loan repayment can expand your benefits without expanding your budget. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) Aug 26, 2026 [For Individuals](/blog/category/individuals) 4 min read ## [Education Benefits You Should Know About](/blog/education-benefits-you-should-know-about) Education benefits like 529 savings, tuition reimbursement, and student loan repayment can help you reduce education costs during every stage of your career. [](/blog/author/team-paidly)[Team Paidly](/blog/author/team-paidly) Aug 07, 2026 [For Individuals](/blog/category/individuals) 5 min read ## [ABLE Accounts and 529 Plans: A Flexible Savings Strategy](/blog/what-is-an-able-account-529a) Learn how 529 plans and ABLE accounts work together to make your savings even more supportive. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Jul 22, 2026 --- # Student Loan Repayment Benefits: The Secret Weapon for Brokers URL: https://meetpaidly.com/blog/offer-student-loan-repayment-benefits-through-your-brokerage Description: Brokers offer Student Loan Repayment to attract top talent. Learn how to add and implement this key benefit. [Home](/ "Home")[Blog](/blog "Blog")[Benefit Professionals](/blog/category/benefit-professionals "Benefit Professionals")Student Loan Repayment Benefits: The Secret Weapon for Brokers # Offer Student Loan Repayment Benefits Through Your Brokerage Differentiate your offerings, Introduce the benefit that the modern workforce is seeking. [](/blog/author/john-scully) [John Scully, CEO](/blog/author/john-scully) May 14, 20247 min read [](https://www.facebook.com/sharer/sharer.php?u=https://meetpaidly.com/blog/offer-student-loan-repayment-benefits-through-your-brokerage "Share to Facebook") [](https://twitter.com/intent/tweet/?text=Offer%20Student%20Loan%20Repayment%20Benefits%20Through%20Your%20Brokerage&url=https://meetpaidly.com/blog/offer-student-loan-repayment-benefits-through-your-brokerage "Share to Twitter") [](https://www.linkedin.com/sharing/share-offsite/?url=https://meetpaidly.com/blog/offer-student-loan-repayment-benefits-through-your-brokerage "Share to Linkedin") [](mailto:?Subject=Offer%20Student%20Loan%20Repayment%20Benefits%20Through%20Your%20Brokerage&Body=Check%20this%20out%21%0Ahttps%3A%2F%2Fhttps://meetpaidly.com/blog/offer-student-loan-repayment-benefits-through-your-brokerage "Share to Email") ## Key Takeaways - **Boost Your Bottom Line:** Discover how Paidly can elevate your brokerage's earnings by tapping into the power of employee financial empowerment. - **Foster Financial Prosperity:** Unveil the secret to organic portfolio growth with Paidly, where more financially free employees mean more opportunities for you. - **Seamless Innovation:** Find out how Paidly's effortless integration can signal your brokerage's commitment to cutting-edge solutions. - **Effortless Excellence:** Experience the minimal effort and maximum impact Paidly offers, making it a catalyst for growth in your brokerage's service offerings. * * * Brokers play a pivotal role in navigating the complex world of benefits and insurance. As a broker, your expertise lies in finding innovative solutions that meet the unique needs of your clients. ## Competitive Advantage Most brokers don't offer student loan repayment benefits yet, representing a missed opportunity to stand out in the benefits market and help their clients attract top young talent ([Moorjani, 2023](https://www.edcor.com/blog/student-loan-repayment-a-cutting-edge-benefit-to-recruit-top-talent/)). With many industries facing talent shortages, brokers who provide this benefit can gain a distinct competitive advantage and edge out the competition while helping their clients in recruiting recent graduates and young professionals with student debt. Research shows that student loan assistance is highly desired by job seekers and can sway top candidates to accept job offers. Given the **massive $1.7 trillion student debt** crisis in America, the vast majority of college graduates are saddled with loans. Offering to help your clients employees pay these down makes an employer much more attractive to prospective hires. This can be especially impactful for smaller companies seeking to recruit against big institutions. The data shows that student loan benefits offer employers a powerful tool to stand out, attract young talent, and build a strong workforce for the future. Getting ahead of the curve on this can provide a distinct competitive edge. ## Easy, No-Cost Broker Setup Offering student loan repayment benefits does not have to be an expensive endeavor for brokers. Brokers are relieved of any administrative load, and employers enjoy a seamless addition to their benefits offering with minimal effort. Paidly effectively manages these programs at **no cost to the broker** and for a **nominal monthly fee billed to the employer. For only under $7 per employee**, This perk becomes a highly competitive option compared to costlier benefits, like 401(k) matching. You gain access to complete, precise, and instant information about your clients. This effortless connectivity helps keep your business ahead of competition. The monthly fees charged to your clients by Paidly are used to cover the operational aspects like enrollment, verification, payments to loan servicers, and tax reporting. This alleviates the administrative burden for the brokerage. With so little effort required by the employer, student loan repayment benefits offer an easy way to enhance your compensation package. Some other factors that keep costs low: - Contribution amounts are flexible each month. No need to commit to a set dollar amount. - Payments go directly to employees' student loan servicer. No reimbursements to manage. - Can cap total contributions annually to control overall spend. With smart program design, student loan repayment benefits can provide high value to employees **for no cost to the brokerage**. This can give an edge in attracting top talent in a budget-friendly manner. [Learn more about a Paidly partnership today](https://meetpaidly.com/benefit-professionals). #### Create an informed employee retention strategy See what your return on investment could look like when offering a Student Loan Repayment Benefit [See your return](/calculators/employer-student-loan-repayment-roi-calculator) ## Grow with Paidly, Brokers In an era where differentiation is key, brokerages have to look beyond the traditional, exploring offerings that not only complement their existing portfolio but actively enhance it. Paidly's unique offerings stand out for several reasons that brokerages cannot afford to ignore. Most notably: - **Increased Revenue:** Incorporating Paidly into your portfolio isn't just about offering value to your clients; it's a strategic move towards boosting your bottom line. By presenting a service that empowers employees financially, you naturally drive interest in enhancing those gains, leading to higher uptake in ancillary services such as life insurance or 401(k) contributions. - **Organic Growth:** When employees find themselves with more financial freedom, thanks to your firm and Paidly, they're more inclined to invest in additional financial products. This creates a seamless cycle of organic growth within your portfolio. As your clients' employees prosper, so does your range of selling opportunities. Moreover, the integration of Paidly into your suite of services signals a commitment to innovation without the hassle. - **Effortless Integration with Zero Conflict:** Unlike competing offerings that might clash with existing products, Paidly's solutions enrich your portfolio without overlap. This not only fortifies your relationship with clients by avoiding redundancies but also opens up new avenues for growth in spheres like Financial Advisory services. - **Minimal Effort, Maximum Impact:** The logistical aspect of incorporating Paidly could not be more straightforward. Our team handles the legwork, ensuring that you can deliver exceptional value to your clients with minimal input. This ease of adoption makes Paidly an attractive proposition for brokerages looking to expand their offerings without expanding their workload. Paidly represents an unparalleled opportunity for brokerages eager to stand out in a crowded market. By offering a product that drives revenue, fosters organic growth, complements existing services, and requires little to no extra effort to implement, brokerages are well-positioned to meet the evolving needs of their clients while simultaneously enhancing their operational efficiency and profitability. ## Tax Benefits Offering student loan repayment assistance provides brokers and their clients tax advantages. [Under Section 127 of the Internal Revenue Code](https://meetpaidly.com/blog/understanding-section-127-plan), **employers can provide up to $5,250 per year per employee** [in educational assistance benefits tax-free](/tax-free). This includes payments made directly to employees or student loan servicers. For employers, this is an attractive benefit because the payments are a deductible business expense. The amount is excluded from the employee's gross income, so they do not pay taxes on it either. This allows brokers to help their clients pay down student loans faster, without increasing taxable income. The Section 127 deduction is higher than the student loan interest deduction, which phases out at higher incomes ([kiplinger.com](https://www.kiplinger.com/taxes/tax-deductions/tax-breaks-for-your-student-loan)). It provides more substantial savings for both the brokerage and their clients across all income levels. With the student debt crisis impacting all generations, this benefit has very wide appeal. ## Getting Started To offer student loan repayment benefits, brokers will first need to determine the contribution amount and employee eligibility requirements. Many employers start with $50-100 per month per employee, with higher amounts for specialized roles. Eligibility is often based on being employed full-time, though some firms extend the benefit to part-time workers as well. The next step is communicating the new program to your current and prospective clients' employees. Prominently featuring the benefit in job listings and on the company website helps attract job seekers with student debt. Internally, email announcements, intranet postings, and mentions during onboarding ensure current staff are aware of the new offering. Reminding companies employees at least annually about repayment benefits through emails or newsletters can further boost engagement and retention. Offering to help pay down student loans is an impactful way for brokers to modernize their benefits package. With strategic communication and competitive contribution amounts, the program can aid recruiting and demonstrate to employees that their financial wellbeing matters. Interested in learning more or ready to get started? [Reach out to us today.](/contact-sales) ## A Clear Win-Win for Brokers Offering student loan repayment benefits is a clear win-win for brokers and their clients. As we've discussed, this benefit can provide [significant tax advantages](https://meetpaidly.com/tax-free), boost recruitment and retention, increase employee engagement, give a competitive edge, and has a relatively low cost to implement. With over 40 million Americans struggling with student debt, this benefit directly addresses one of the biggest financial burdens for younger generations entering the workforce today. Employees appreciate employers who show they understand and want to help with this challenge. ## Show Support The benefits for both brokers and employees make this an offering every firm should strongly consider. The programs are straightforward to set up and the long-term payoff in terms of talent acquisition and loyalty is well worth the investment. Don't wait for competitors to use this benefit to lure away your clients. Take action now to show your clients you support them by offering a student loan repayment benefit plan. It's a smart strategic move that can pay dividends for years to come. At Paidly, we understand the significance of trust in client relationships. We equip you with extensive resources and expertise to confidently address your clients' Student Loan Repayment Benefit concerns. [Let’s talk about a partnership today](/contact-sales) #### Table of Contents - #### Let's Talk Repayment Benefits Talk to one of our team of experts that will answer any questions [Talk to an Expert](/contact-sales) [](/blog/author/john-scully) #### [John Scully, CEO](/blog/author/john-scully) John Scully is a seasoned executive leader with a strong background in business operations and technology. As Co-Founder of Paidly Student Loan Benefits, he empowers employers to enhance talent recruitment and retention through a cloud-based platform that allows tax-free student loan payments. With experience in industries like healthcare and fintech, John has held leadership positions at companies such as Sharp Notions and the University of Rochester Medical Center. Holding an MBA from the University of Rochester and a B.S. from Excelsior College, John is dedicated to helping organizations and individuals navigate the complexities of Fintech, especially student loan payments. [](https://www.linkedin.com/in/johnscully282/ "LinkedIn") #### Stay Ahead of the Curve Get the latest insights on student loan repayment, 529 contributions, and maximizing employer benefits delivered to your inbox. Join the list By submitting your email, you agree to receive emails from Paidly and acknowledge that you can unsubscribe at any time. * * * The information provided is of a general nature and an educational resource. It is not intended to provide advice or address the situation of any particular individual or entity. Any recipient shall be responsible for the use to which it puts this document. Paidly shall have no liability for the information provided. While care has been taken to produce this document, Paidly does not warrant, represent or guarantee the completeness, accuracy, adequacy, or fitness with respect to the information contained in this document. The information provided does not reflect new circumstances, or additional regulatory and legal changes. The issues addressed may have legal, financial, and health implications, and we recommend you speak to your legal, financial, and health advisors before acting on any of the information provided. ### You may also like [Founder's Notes](/blog/category/founders-notes) 5 min read ## [The HR Guide to Using Your Entire Education Budget](/blog/the-hr-guide-to-using-your-entire-education-budget) Your education budget can do a lot more than just pay for tuition. Learn how adding student loan repayment can expand your benefits without expanding your budget. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) Aug 26, 2026 [For Individuals](/blog/category/individuals) 4 min read ## [Education Benefits You Should Know About](/blog/education-benefits-you-should-know-about) Education benefits like 529 savings, tuition reimbursement, and student loan repayment can help you reduce education costs during every stage of your career. [](/blog/author/team-paidly)[Team Paidly](/blog/author/team-paidly) Aug 07, 2026 [For Individuals](/blog/category/individuals) 5 min read ## [ABLE Accounts and 529 Plans: A Flexible Savings Strategy](/blog/what-is-an-able-account-529a) Learn how 529 plans and ABLE accounts work together to make your savings even more supportive. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Jul 22, 2026 --- # How to Offer 529 Plan Benefits to Your Employees URL: https://meetpaidly.com/blog/offering-529-plans-as-employee-benefit Description: Offer 529 plan contributions as an employee benefit. Explore the advantages, limitations, and implementation strategies [Home](/ "Home")[Blog](/blog "Blog")[For Employers](/blog/category/employers "For Employers")How to Offer 529 Plan Benefits to Your Employees # Offering 529 Plan Contributions as an Employee Benefit: A Guide for Employers Offering 529 plan contributions as an employee benefit can attract top talent and support your team's financial wellness. [](/blog/author/team-paidly) [Team Paidly](/blog/author/team-paidly) Aug 26, 20245 min read [](https://www.facebook.com/sharer/sharer.php?u=https://meetpaidly.com/blog/offering-529-plans-as-employee-benefit "Share to Facebook") [](https://twitter.com/intent/tweet/?text=Offering%20529%20Plan%20Contributions%20as%20an%20Employee%20Benefit%3A%20A%20Guide%20for%20Employers&url=https://meetpaidly.com/blog/offering-529-plans-as-employee-benefit "Share to Twitter") [](https://www.linkedin.com/sharing/share-offsite/?url=https://meetpaidly.com/blog/offering-529-plans-as-employee-benefit "Share to Linkedin") [](mailto:?Subject=Offering%20529%20Plan%20Contributions%20as%20an%20Employee%20Benefit%3A%20A%20Guide%20for%20Employers&Body=Check%20this%20out%21%0Ahttps%3A%2F%2Fhttps://meetpaidly.com/blog/offering-529-plans-as-employee-benefit "Share to Email") ## Key Takeaways - Employers can offer contributions to employee 529 plans as a benefit, attracting top talent and supporting financial wellness. - Educating employees about 529 plans and offering matching contributions can encourage participation in this valuable benefit. - Some states offer tax incentives for employers contributing to 529 plans, such as credits or deductions, making this benefit even more attractive for businesses. - Platforms like Paidly streamline 529 plan contributions and ensure fairness. * * * As an employer, you may be wondering if you can offer contributions to your employees' children's 529 plans as a benefit. The short answer is yes, but there are some important considerations to keep in mind. We'll explore the ins and outs of employer contributions to 529 plans, including the benefits, limitations, and strategies for implementing this valuable employee benefit. ## What is a 529 Plan? Before we dive into employer contributions, let's quickly review what a 529 plan is. A 529 plan is a tax-advantaged investment account designed to help families save for education expenses. Contributions to a 529 plan grow tax-free, and withdrawals for qualified education expenses are also tax-free. For more information on 529 plans, check out our post on [What is a 529 Plan? The Secret Weapon for College Savings](/blog/what-is-a-529-plan). ## Can Employers Contribute to 529 Plans? Yes, employers can contribute to their employees' 529 plans. However, these contributions are considered taxable compensation to the employee. This means that the employee will need to pay income taxes on the amount contributed by the employer. ## Benefits of Offering 529 Plan Contributions as an Employee Benefit Despite the tax implications, offering [529 plan contributions as an employee benefit](/529-college-savings) can be a valuable addition to your company's benefits package. Some benefits include: - Attracting and retaining top talent - Demonstrating your company's commitment to employee financial wellness - Helping employees save for their children's education - Potentially boosting employee morale and loyalty ## Implementing a 529 Plan Contribution Benefit If you decide to offer 529 plan contributions as an employee benefit, there are a few ways to implement it: 1. **529 Payroll Deduction**: Employees can choose to have a portion of their paycheck automatically deposited into their 529 plan. However, these deductions are not pre-tax \[2\]. 2. **529 Plan Matching Contribution**: Employers can match employee contributions to their 529 plans, similar to a 401(k) match. This can be a powerful incentive for employees to save for their children's education. 3. **Direct Employer Contributions**: Employers can make direct contributions to employee 529 plans, either as a flat amount or as a percentage of the employee's salary. ## Tax Considerations for Employers Contributing to 529 Plans When offering 529 plan contributions as an employee benefit, it's essential to understand the tax implications for both your organization and your employees. Some key points to keep in mind: - **State Tax Incentives**: Some [states offer tax incentives](/resources/529-by-state-information), such as credits or deductions, for employers who contribute to their employees' 529 plans. Check with a tax professional or refer to your state's tax laws to determine eligibility. - **Taxable Compensation for Employees**: Employer contributions to 529 plans are considered taxable compensation for employees. Educate your employees about the tax consequences to help them plan accordingly. - **Compliance with Tax Laws and Regulations**: Partner with a financial advisor or tax professional specializing in 529 plans and employee benefits to ensure compliance and maximize benefits while minimizing potential tax liabilities. ### State Tax Incentives for Employers Some states offer tax incentives for employers who contribute to their employees' 529 plans. These incentives can make offering this benefit even more attractive. For example, in Illinois, employers can claim a tax credit **equal to 25% of their contributions**, up to $500 per employee. Nevada offers a similar credit of **up to $500 per employee**, while Wisconsin provides a 25% tax deduction for employer contributions. It's important to note that not all states offer these incentives, and the specifics can vary. Consult with a tax professional or refer to your state's tax laws to determine if your business is eligible for any tax breaks. ## Strategies for Encouraging Employee 529 Plan Participation To maximize the impact of your 529 plan contribution benefit, consider these strategies: - Educate employees about the benefits of 529 plans and the importance of saving for education - Offer a generous matching contribution to incentivize participation - Make the enrollment process as simple and straightforward as possible - Provide resources and support to help employees navigate the 529 plan landscape ## Streamline Your 529 Plan Contribution Benefit with Paidly Enhance your employee benefits package with Paidly's powerful tools such as our [529 plan contributions](/529-college-savings) and [student loan repayment benefits](/employer). Our user-friendly platform simplifies the process of contributing directly to your employees' children's existing 529 college savings plans. For employees who have already paid off their student loans, Paidly enables you to redirect those benefits to their children's 529 plans, ensuring fairness and inclusivity. With Paidly's seamless integration into your existing HR systems, implementing these benefits is a breeze. For more information on 529 plan strategies, check out our other blog posts: - **[529 Plan Strategies for Parents Who Are Getting A Late Start](/blog/late-529-plan-strategies)** - **[From Savings to School: Navigating the 529 Plan Withdrawal Process with Ease](/blog/how-to-withdraw-529-plan-funds)** Offering 529 plan contributions as an employee benefit can be a valuable way to support your employees' financial wellness and help them save for their children's education. While there are some tax implications to consider, the benefits of this offering can be significant for both your employees and your organization as a whole. If you would like to learn more about offering 529 plan contributions for your employees at your company, reach out and [Talk to an Expert](/contact-sales). #### Table of Contents - #### Let's Talk Repayment Benefits Talk to one of our team of experts that will answer any questions [Talk to an Expert](/contact-sales) [](/blog/author/team-paidly) #### [Team Paidly](/blog/author/team-paidly) Paidly is the go-to platform for rising above student debt. We specialize in innovative solutions, such as employer student loan assistance benefits, streamlined 529 plan contributions, and crowdfunding tools for individuals and their families. Backed by nearly two decades of experience in financial technology, Paidly is committed to simplifying student loan repayment, reducing loan dependency, and empowering students to take control of their finances no matter where they are in their educational journey. [](https://www.linkedin.com/company/meetpaidly/ "LinkedIn")[](https://www.facebook.com/meetpaidly "Facebook")[](https://www.instagram.com/meetpaidly/ "Instagram")[](https://twitter.com/meetpaidly "Twitter")[](https://www.youtube.com/@paidly "YouTube")[](https://www.tiktok.com/@meetpaidly "TikTok") #### Stay Ahead of the Curve Get the latest insights on student loan repayment, 529 contributions, and maximizing employer benefits delivered to your inbox. Join the list By submitting your email, you agree to receive emails from Paidly and acknowledge that you can unsubscribe at any time. * * * The information provided is of a general nature and an educational resource. It is not intended to provide advice or address the situation of any particular individual or entity. Any recipient shall be responsible for the use to which it puts this document. Paidly shall have no liability for the information provided. While care has been taken to produce this document, Paidly does not warrant, represent or guarantee the completeness, accuracy, adequacy, or fitness with respect to the information contained in this document. The information provided does not reflect new circumstances, or additional regulatory and legal changes. The issues addressed may have legal, financial, and health implications, and we recommend you speak to your legal, financial, and health advisors before acting on any of the information provided. ### You may also like [Founder's Notes](/blog/category/founders-notes) 5 min read ## [The HR Guide to Using Your Entire Education Budget](/blog/the-hr-guide-to-using-your-entire-education-budget) Your education budget can do a lot more than just pay for tuition. Learn how adding student loan repayment can expand your benefits without expanding your budget. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) Aug 26, 2026 [For Individuals](/blog/category/individuals) 4 min read ## [Education Benefits You Should Know About](/blog/education-benefits-you-should-know-about) Education benefits like 529 savings, tuition reimbursement, and student loan repayment can help you reduce education costs during every stage of your career. [](/blog/author/team-paidly)[Team Paidly](/blog/author/team-paidly) Aug 07, 2026 [For Individuals](/blog/category/individuals) 5 min read ## [ABLE Accounts and 529 Plans: A Flexible Savings Strategy](/blog/what-is-an-able-account-529a) Learn how 529 plans and ABLE accounts work together to make your savings even more supportive. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Jul 22, 2026 --- # Secure 2.0: A Game-Changer for Student Loan Repayments? URL: https://meetpaidly.com/blog/secure-2-0-act-new-era-student-loan-repayment Description: Secure 2.0 Act breakdown: impacts on student loan terms, PSLF, repayment plans, and interest. Essential for federal loan holders. [Home](/ "Home")[Blog](/blog "Blog")[For Employers](/blog/category/employers "For Employers")Secure 2.0: A Game-Changer for Student Loan Repayments? # The Secure 2.0 Act: A New Era for Student Loan Repayment Unlock the secret to turning your student loan payments into retirement savings with the new Secure 2.0 Act. [](/blog/author/john-scully) [John Scully, CEO](/blog/author/john-scully) Updated: Dec 16, 202411 min read [](https://www.facebook.com/sharer/sharer.php?u=https://meetpaidly.com/blog/secure-2-0-act-new-era-student-loan-repayment "Share to Facebook") [](https://twitter.com/intent/tweet/?text=The%20Secure%202.0%20Act%3A%20A%20New%20Era%20for%20Student%20Loan%20Repayment&url=https://meetpaidly.com/blog/secure-2-0-act-new-era-student-loan-repayment "Share to Twitter") [](https://www.linkedin.com/sharing/share-offsite/?url=https://meetpaidly.com/blog/secure-2-0-act-new-era-student-loan-repayment "Share to Linkedin") [](mailto:?Subject=The%20Secure%202.0%20Act%3A%20A%20New%20Era%20for%20Student%20Loan%20Repayment&Body=Check%20this%20out%21%0Ahttps%3A%2F%2Fhttps://meetpaidly.com/blog/secure-2-0-act-new-era-student-loan-repayment "Share to Email") ## Key Takeaways - **The Secure 2.0 Act allows employers** to match employee student loan payments with retirement contributions. - **Borrowers can receive employer retirement plan contributions** by providing proof of eligible student loan payments. - **For employers**, the new provision incentivizes recruiting/retaining talent while assisting employees with debt repayment. - **Key eligibility rules and limits on matching contributions** will apply under Secure 2.0 provisions. * * * ## Introduction to the Secure 2.0 Act The Secure 2.0 Act, also known as the Securing a Strong Retirement Act of 2022, was passed by Congress as part of the [Consolidated Appropriations Act of 2023 in December 2022](https://www.congress.gov/bill/117th-congress/house-bill/2617). The legislation aims to expand and strengthen retirement savings options for Americans. It makes significant changes to 401(k) plans, IRAs, and other retirement accounts. The Secure Act was originally passed in 2019 to address concerns about Americans having inadequate retirement savings. The Secure 2.0 Act builds on the original law by further enhancing retirement security. The goal is to help more people save more for retirement and preserve their savings. Some of the major changes related to student loan repayments include modifying income-driven repayment plans to provide loan forgiveness after 10 years for borrowers with lower balances. It also changes the interest subsidy structure. The Secure 2.0 Act expands access to retirement plans, increases contribution limits, and allows employers to match student loan payments. Overall, it aims to incentivize and facilitate increased retirement contributions. ## Changes to Income-Driven Repayment Plans The Secure 2.0 Act makes significant changes to income-driven repayment (IDR) plans for federal student loans. Under the new law, the standard IDR plan term will be shortened from 20 to 10 years for undergraduate loans, though it remains at 20 years for graduate loans (\[1\]). This change will lower monthly payments for many borrowers on IDR plans. Previously, payments under IDR were set at 10% of discretionary income and stretched over 20 years. Now, payments will be set at 5% of discretionary income over 10 years for undergraduate loans. This effectively cuts monthly payments in half for eligible borrowers \[2\]. However, the tradeoff is that borrowers will accrue interest for 10 years instead of 20 years before qualifying for loan forgiveness. Some experts argue this provides less benefit than expanding existing IDR plans and keeping the 20-year term \[3\]. Nonetheless, the revamped IDR structure under Secure 2.0 offers more affordable monthly payments as an option for struggling borrowers. \[1\] [https://www.kiplinger.com/personal-finance/student-loans-secure-2-act-helps-lighten-burden](https://www.kiplinger.com/personal-finance/student-loans-secure-2-act-helps-lighten-burden) \[2\] [https://vinfoundation.org/secure-act-2-0-retirement-plan-contributions-tied-to-your-student-loan-payments/](https://vinfoundation.org/secure-act-2-0-retirement-plan-contributions-tied-to-your-student-loan-payments/) \[3\] [https://www.lordabbett.com/en-us/financial-advisor/insights/retirement-planning/secure-act-2-0-student-loan-match--how-it-works.html](https://www.lordabbett.com/en-us/financial-advisor/insights/retirement-planning/secure-act-2-0-student-loan-match--how-it-works.html) ## Forgiveness After 10 Years for Lower Balances The Secure 2.0 Act introduces a new loan forgiveness option for borrowers with lower student loan balances. Under this provision, borrowers with eligible federal student loans can qualify for loan forgiveness after making 120 qualifying monthly payments over 10 years \[1\]. To be eligible, a borrower's total loan balance when they first entered repayment must have been below the following thresholds: - $12,000 for undergraduate loans - $36,000 for graduate loans These maximum initial loan balance amounts apply to Direct Loans and FFEL Program loans held by ED. Perkins Loans and commercially held FFEL loans do not qualify \[2\]. Borrowers must make 120 monthly payments under an income-driven repayment plan or the standard 10-year repayment plan. Payments made under extended or graduated repayment plans do not count. Any months spent in deferment or forbearance are also excluded. This new 10-year forgiveness option allows eligible borrowers with modest loan debts to obtain forgiveness much sooner than the 20 or 25 years required under existing income-driven plans \[1\]. However, borrowers will need to carefully weigh the pros and cons, as opting for 10-year forgiveness may result in a larger tax bill compared to forgiveness under an income-driven plan after 20 or 25 years \[3\]. \[1\] [https://www.kiplinger.com/retirement/bipartisan-retirement-savings-package-in-massive-budget-bill](https://www.kiplinger.com/retirement/bipartisan-retirement-savings-package-in-massive-budget-bill) \[2\] [https://studentaid.gov/articles/what-to-know-about-ffel-loans/](https://studentaid.gov/articles/what-to-know-about-ffel-loans/) \[3\] [https://www.finance.senate.gov/download/retirement-section-by-section-](https://www.finance.senate.gov/download/retirement-section-by-section-) ## Interest Subsidy Changes The SECURE 2.0 Act introduces new interest subsidy provisions for certain borrowers that differ from previous subsidy rules. Under the new law, borrowers with income-driven repayment plans can receive a subsidy for any unpaid interest that accrues on their loans \[1\]. This allows the unpaid interest to not be capitalized onto the principal balance. Previously, borrowers were only eligible for interest subsidies if they were on specific repayment plans - namely the Pay As You Earn (PAYE), Revised Pay As You Earn (REPAYE), and Income-Based Repayment (IBR) plans prior to July 1, 2014 \[2\]. The new provisions expand eligibility to all income-driven plans. The subsidy also now applies for a longer period. Before, it was limited to the first 3 years of repayment for undergraduate loans and the first 5 years for graduate loans. Now, borrowers can receive the interest subsidy until they have paid off their loan or for half the time they were enrolled, whichever is less. Overall, the changes allow more borrowers to benefit from unpaid interest not capitalizing and accruing additional interest. This can help them pay down principal faster once payments resume. However, some experts note paying extra during the subsidy period could negate its effects. \[1\] [https://www.irs.gov/pub/irs-drop/n-24-02.pdf](https://www.irs.gov/pub/irs-drop/n-24-02.pdf) \[2\] [https://vinfoundation.org/secure-act-2-0-retirement-plan-contributions-tied-to-your-student-loan-payments/](https://vinfoundation.org/secure-act-2-0-retirement-plan-contributions-tied-to-your-student-loan-payments/) ## Impact on Public Service Loan Forgiveness The Secure 2.0 Act makes several changes that will impact borrowers seeking Public Service Loan Forgiveness (PSLF)\[1\]. Under the existing PSLF program, borrowers working for qualifying public service employers can have their federal student loans forgiven after making 120 qualifying payments. With the Secure 2.0 Act, borrowers will now only need to make 96 monthly payments before becoming eligible for forgiveness, reducing the overall repayment term by two years\[2\]. This provides faster relief for borrowers pursuing PSLF. Borrowers will need to be strategic in qualifying for PSLF under the new rules. The first key is ensuring employment with a qualifying public service employer. Eligible employers include government organizations, 501(c)(3) non-profits, and other not-for-profit organizations providing qualifying public services\[3\]. The second key is making sure all loan payments made are qualifying payments under the PSLF program rules. This means making full, on-time, monthly payments under an income-driven repayment plan. Under Secure 2.0, existing income-driven plans have been consolidated into one new plan. Borrowers must enroll in this new plan to qualify for PSLF under the revised terms\[1\]. Overall, Secure 2.0 provides a faster path to forgiveness for dedicated public service workers. Careful planning and execution will be required for borrowers to maximize the revised PSLF benefits. \[1\] [https://www.forbes.com/sites/adamminsky/2024/01/04/if-you-work-and-have-student-loans-these-new-benefits-could-help/](https://www.forbes.com/sites/adamminsky/2024/01/04/if-you-work-and-have-student-loans-these-new-benefits-could-help/) \[2\] [https://www.plansponsor.com/large-plan-sponsors-seek-irs-clarification-on-secure-2-0-provisions/](https://www.plansponsor.com/large-plan-sponsors-seek-irs-clarification-on-secure-2-0-provisions/) \[3\] [https://www.bysavi.com/assets/secure-report2.0.pdf](https://www.bysavi.com/assets/secure-report2.0.pdf) ## Changes to Parent PLUS and Graduate Loans The Secure 2.0 Act makes several notable changes to PLUS loans taken out by parents and graduate students \[1\]. One of the biggest changes is that new PLUS loan borrowers will have access to income-driven repayment plans that were previously only available for other federal student loans. This means parents and graduate students will have the option to cap their monthly payments at 10% of discretionary income and receive loan forgiveness after 20 years of payments, or 10 years if working in public service \[2\]. Previously, PLUS loans had very limited repayment options beyond the standard 10-year repayment plan. This change provides more flexibility and affordability for PLUS loan borrowers struggling to manage their payments \[3\]. Another important change pertains to interest capitalization on PLUS loans. Currently, any unpaid interest gets added to the principal balance when a PLUS loan enters repayment. The Secure 2.0 Act eliminates this interest capitalization, preventing balances from growing larger due to unpaid interest \[1\]. This will help keep PLUS loan debt from snowballing for borrowers who can't afford to pay the interest as it accrues. Overall, these changes will make Parent PLUS and Grad PLUS loans more manageable and affordable for borrowers. The added repayment flexibility and elimination of capitalized interest will help reduce the burden of PLUS loan debt. \[1\] [https://www.foley.com/insights/publications/2023/04/secure-2-student-loans-401k-plan-matching/](https://www.foley.com/insights/publications/2023/04/secure-2-student-loans-401k-plan-matching/) \[2\] [https://youbenefited.com/resource/how-secure-act-2-0-will-help-you-and-your-employees/](https://youbenefited.com/resource/how-secure-act-2-0-will-help-you-and-your-employees/) \[3\] [https://www.lordabbett.com/en-us/financial-advisor/insights/retirement-planning/secure-act-2-0-student-loan-match--how-it-works.html](https://www.lordabbett.com/en-us/financial-advisor/insights/retirement-planning/secure-act-2-0-student-loan-match--how-it-works.html) ## Implementation Timeline The Secure 2.0 Act will be implemented in phases over the next several years. Most provisions will take effect starting January 1, 2024 [\[1\]](https://time.com/personal-finance/article/what-is-the-secure-act-2-0/). Some key implementation dates include: - **July 2023** - Lower interest rates for undergraduate loans will take effect for new borrowers [\[2\]](https://www.tryfinch.com/blog/secure-act-timeline). - **January 2024** - The $57,500 forgiveness threshold, revised income-driven repayment plans, and changes to Parent PLUS loans take effect. Interest subsidy changes also begin. - **January 2025** - The public service loan forgiveness waiver expires. Borrowers will need to have submitted an employment certification form by 10/31/2024 to qualify [\[3\]](https://www.nerdwallet.com/article/investing/secure-act). For current borrowers, the Department of Education is expected to provide guidance on how and when they can transition to the [new income-driven repayment plans](https://meetpaidly.com/blog/income-driven-repayment-plans). This includes potentially allowing borrowers to get credit under the new plans for payments made under old plans. The law does not automatically enroll borrowers into the new plans. Current borrowers will need to opt-in through an application process that will be clarified in the coming months. ## Borrower Considerations The Secure 2.0 Act will impact federal student loan borrowers in different ways depending on their individual situations. Some of the key considerations for borrowers include: - Recent graduates with lower loan balances will benefit the most from the new 10-year forgiveness eligibility for balances under $12,000. This provides an accelerated path to loan forgiveness for those with smaller debts \[1\]. - Borrowers seeking Public Service Loan Forgiveness will need to factor in the new limits on $57,500 of forgiveness being tax-free. Any amount above that forgiven will be considered taxable income \[2\]. Those pursuing PSLF may want to focus on maximizing other retirement savings to offset potential taxes. - Parents taking out PLUS loans and graduate students should be aware of the new limits on interest capitalization and accruing interest while enrolled. This will help reduce overall repayment costs in some cases \[1\]. - All borrowers will benefit from the expanded income-driven repayment options that cap monthly payments at 5% of discretionary income. This provides more affordable payments, especially for those earning lower incomes early in their careers \[2\]. - Borrowers may want to strategically time new loan consolidation requests until after July 2023 when the new IDR plans take effect. This allows them to take advantage of the lower 5% monthly payment caps. - Tracking implementation timelines will be key so borrowers can proactively enroll in the new IDR plans when available to maximize savings. Consulting with financial aid advisors can help with navigating the changes. \[1\] [https://www.kiplinger.com/retirement/bipartisan-retirement-savings-package-in-massive-budget-bill](https://www.kiplinger.com/retirement/bipartisan-retirement-savings-package-in-massive-budget-bill) \[2\] [https://www.nerdwallet.com/article/investing/secure-act](https://www.nerdwallet.com/article/investing/secure-act) ## Criticisms and Concerns The Secure 2.0 Act has received some criticism from experts for not going far enough to help lower-income Americans save for retirement. Some of the major concerns include: - The Act mostly benefits higher-income individuals who don't necessarily need more help saving for retirement ([fuoco.cpa](https://www.fuoco.cpa/secure-2-0-act-pros-and-cons-winners-and-losers/)). The increased caps on 401(k) contributions and IRA limits favor those with higher incomes. - It does little to enhance retirement security for lower-income workers ([insurancenewsnet.com](https://insurancenewsnet.com/innarticle/critics-say-secure-2-0-did-little-to-help-the-economically-insecure)). More could have been done to make saving easier for those struggling financially. - The Act does not address the pension crisis facing many Americans ([cnbc.com](https://www.cnbc.com/2022/12/21/secure-2point0-retirement-legislation-leaves-a-huge-problem-untouched.html)). Multi-employer pension plans are underfunded and could lead to cuts. - More incentives or automatic enrollment could help increase retirement plan participation for lower-income workers and small businesses. - Matching contributions for student loan payments into retirement accounts were not included. This could have encouraged younger generations to save. Overall, while the Secure 2.0 Act takes some steps to update retirement saving policies, it lacks meaningful enhancements to help those most in need of retirement security. There are concerns it does too little for lower-income individuals and ignores major problems like the pension crisis. ## Significant Overhaul to the Federal Student Loan System in Over a Decade The Secure 2.0 Act represents the most significant overhaul to the federal student loan system in over a decade. By expanding income-driven repayment plans, adding faster loan forgiveness options, and capping interest for lower-balance loans, the act aims to provide more affordable repayment and debt relief for student loan borrowers. **The key changes include:** - Expanded access to income-driven repayment plans that cap payments at 5% of discretionary income and offer forgiveness after 10 years for **loan balances under $12,000 or after 20 years** for higher balances. This will reduce monthly payments for many. - Automatic enrollment into income-driven repayment for borrowers who are behind on payments or **have balances over $12,000**. This makes accessing affordable plans easier. - Capping interest rates for lower-balance undergraduate loans to prevent balances from ballooning. Interest will not capitalize as long as payments are made. - Allowing some borrowers to have **up to $20,000** in debt forgiven after 10 years of payments. This provides faster relief for those with lower balances. - Continuing the pause on student loan payments and interest until 60 days after enactment. This gives time for implementation. Overall, these changes will make student loan repayment more manageable and provide pathways to forgiveness for many borrowers. However, some criticize the act for not going far enough and argue for broader debt cancellation. The future outlook depends on successful implementation and whether further reforms are pursued. But the Secure 2.0 Act reflects meaningful progress in reforming student debt. Imagine using the weight of your student loan to lift you up towards your retirement goals. Seems impossible? Think again! With Paidly, you could turn your loan payments into retirement contributions thanks to the Secure 2.0 Act. Want to know how to make it a reality? [Talk to us](/contact-sales), and let’s turn your worrying into dreaming again. Act now and let your student debt be the propulsion you need for a secure future! #### Table of Contents - #### Let's Talk Repayment Benefits Talk to one of our team of experts that will answer any questions [Talk to an Expert](/contact-sales) [](/blog/author/john-scully) #### [John Scully, CEO](/blog/author/john-scully) John Scully is a seasoned executive leader with a strong background in business operations and technology. As Co-Founder of Paidly Student Loan Benefits, he empowers employers to enhance talent recruitment and retention through a cloud-based platform that allows tax-free student loan payments. With experience in industries like healthcare and fintech, John has held leadership positions at companies such as Sharp Notions and the University of Rochester Medical Center. Holding an MBA from the University of Rochester and a B.S. from Excelsior College, John is dedicated to helping organizations and individuals navigate the complexities of Fintech, especially student loan payments. [](https://www.linkedin.com/in/johnscully282/ "LinkedIn") #### Stay Ahead of the Curve Get the latest insights on student loan repayment, 529 contributions, and maximizing employer benefits delivered to your inbox. Join the list By submitting your email, you agree to receive emails from Paidly and acknowledge that you can unsubscribe at any time. * * * The information provided is of a general nature and an educational resource. It is not intended to provide advice or address the situation of any particular individual or entity. Any recipient shall be responsible for the use to which it puts this document. Paidly shall have no liability for the information provided. While care has been taken to produce this document, Paidly does not warrant, represent or guarantee the completeness, accuracy, adequacy, or fitness with respect to the information contained in this document. The information provided does not reflect new circumstances, or additional regulatory and legal changes. The issues addressed may have legal, financial, and health implications, and we recommend you speak to your legal, financial, and health advisors before acting on any of the information provided. ### You may also like [Founder's Notes](/blog/category/founders-notes) 5 min read ## [The HR Guide to Using Your Entire Education Budget](/blog/the-hr-guide-to-using-your-entire-education-budget) Your education budget can do a lot more than just pay for tuition. Learn how adding student loan repayment can expand your benefits without expanding your budget. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) Aug 26, 2026 [For Individuals](/blog/category/individuals) 4 min read ## [Education Benefits You Should Know About](/blog/education-benefits-you-should-know-about) Education benefits like 529 savings, tuition reimbursement, and student loan repayment can help you reduce education costs during every stage of your career. [](/blog/author/team-paidly)[Team Paidly](/blog/author/team-paidly) Aug 07, 2026 [For Individuals](/blog/category/individuals) 5 min read ## [ABLE Accounts and 529 Plans: A Flexible Savings Strategy](/blog/what-is-an-able-account-529a) Learn how 529 plans and ABLE accounts work together to make your savings even more supportive. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Jul 22, 2026 --- # Student Debt is Hurting Healthcare Workers URL: https://meetpaidly.com/blog/student-debt-hurts-healthcare Description: More healthcare workers have student loan debt than any other profession, and financial stress is leading to a healthcare shortage. [Home](/ "Home")[Blog](/blog "Blog")[Borrower Experiences](/blog/category/borrower-experiences "Borrower Experiences")Student Debt is Hurting Healthcare Workers # Debt vs. Service: The Healthcare Worker Tradeoff More healthcare workers hold student loan debt than any other profession, and the financial stress is taking its toll. Inadequate compensation is pushing them out, creating a healthcare shortage. [](/blog/author/samantha-park) [Samantha Park](/blog/author/samantha-park) Updated: Sep 23, 202413 min read [](https://www.facebook.com/sharer/sharer.php?u=https://meetpaidly.com/blog/student-debt-hurts-healthcare "Share to Facebook") [](https://twitter.com/intent/tweet/?text=Debt%20vs.%20Service%3A%20The%20Healthcare%20Worker%20Tradeoff&url=https://meetpaidly.com/blog/student-debt-hurts-healthcare "Share to Twitter") [](https://www.linkedin.com/sharing/share-offsite/?url=https://meetpaidly.com/blog/student-debt-hurts-healthcare "Share to Linkedin") [](mailto:?Subject=Debt%20vs.%20Service%3A%20The%20Healthcare%20Worker%20Tradeoff&Body=Check%20this%20out%21%0Ahttps%3A%2F%2Fhttps://meetpaidly.com/blog/student-debt-hurts-healthcare "Share to Email") ## Key Takeaways - **Student loan debt is more common amongst healthcare workers than any other profession.** 70% of medical students have taken out loans in order to enter the field. - **Healthcare workers pay $300k over the life of their loan.** With the average initial balance of $200k, that’s $100k in interest charges alone. - **Marginalized groups are disproportionately burdened by student debt.** Women, people-of-color, and immigrants take out higher loans more often but earn less over their lifetimes regardless of education. - **Healthcare workers want financial assistance.** 66% of healthcare employees are living paycheck-to-paycheck and 46% are planning to leave due to inadequate compensation. Employer student loan assistance could be the difference between thriving patients and a healthcare shortage. * * * In the [previous article of Debt vs. Service](/blog/teachers-struggle-under-student-loan-debt), we looked at how student loan debt is affecting the nation's educators. This time, I spoke to healthcare workers - individuals dedicated to supporting public wellness. Many of them graduate with a staggering amount of student debt, forcing these workers to balance the demands of a new career under financial strain, often at the expense of their home lives. An unsettling number of healthcare workers are living paycheck-to-paycheck, pushing them out of the field - and a worker shortage means patients suffer. ## Student debt is hurting healthcare workers [Educational indebtedness is more frequent among healthcare workers than any other profession](https://jamanetwork.com/journals/jama-health-forum/fullarticle/2821583), according to the American Medical Association. [70%](https://students-residents.aamc.org/media/12846/download) of medical students take out loans to afford their education, [the average individual balance often exceeding $200k](https://students-residents.aamc.org/media/12846/download). Nearly every public service worker I talked to relayed that taking out loans felt like an expected and natural course of action, though they really didn't understand what they were getting into. "I was a kid when I took on these loans. I just had no idea," said Hana, a former children's hospital music therapist. "**Students just don't have any concept of how much debt it actually is and how it affects you as soon as you get out of school.** They're often just thinking, 'Oh, but when I get my degree, I'm going to be good. I'll have a career and I can pay for it all at that point,' you know? And it's not that clean. It's not always that easy." After graduation, the price of schooling is rarely offset by the starting pay for many positions in healthcare. Erin, a physical therapist, told me, "New grads start at $67k in this setting, which is hard to stomach when you have a doctorate." With upwards of $180k in loan debt, the starting salary didn't make a dent in what she owed. Both Hana and Erin said student loan debt payments have often taken up a large chunk of their expenses. "I've had to factor in that expense of my life, having to pay these bills every month. I've had to factor it in all the time, for every decision," said Hana. "It's just been in the background for so long. I forget sometimes how much I was shaping my life around this limitation." For many, the higher salary promised by their education is overshadowed by considerable debt. ## Working in healthcare has unexpected costs Student loan debt is never just about paying off the amount borrowed. There's [interest on those loans, which is currently the highest it's been since the Great Recession](https://www.nerdwallet.com/article/loans/student-loans/student-loan-interest-rates#:~:text=as%20three%20minutes.-,Compare%20Rates,to%20get%20a%20lower%20rate.). And of course, there are the personal sacrifices made to get payments in on time. Due to high interest rates, borrowers are paying more and for longer, which often means postponing personal goals or taking on a second job. All of this creates a ripple effect of financial strain, one that follows borrowers throughout their lives. As WGU Labs explained: "[Although student loans are meant to help individuals afford college, in reality they can become a lifelong anchor](https://www.wgulabs.org/posts/drowning-in-debt-student-loans-weigh-down-borrowers) that weighs borrowers down with decades-long payments that limit their opportunity to reap the financial security their degree should offer." ### High loan payments strain day-to-day life On top of loan payments, many healthcare workers find they need to pay out of pocket to maintain their careers. The financial burden of paying for certifications, continuing education, and supplies or uniforms was a common grievance among public service workers I talked to. "I was very frustrated about the fees I still had to pay," said Hana. "There are fees every year for recertification. And your association - there's a membership for that too. Plus registration to go to their conferences, that's another fee. Traveling to conferences, having to pay for lodging there. It felt like I was being stripped out of all my money." She told me that at the beginning of her career, these fees were especially stressful. "I had just gotten out of my internship. I had no money, you know? I was being paid very little. The loans were just the cherry on the top of everything." Healthcare workers are struggling day-to-day to make ends meet. This is in part caused by high student loan payments necessary to paying off the cost of medical schooling. **"In total, I pay $1,600/month for my student loans, which is essentially another mortgage,"** wrote Erin, who is both a parent and homeowner. "I also have always had a side job to make extra money, so that I can afford my loan, mortgage, and child care. I work full time at the hospital, and another 5-10 hours doing home visits." [Nearly one in five healthcare workers have side jobs to supplement their income](https://www.forbes.com/sites/debgordon/2022/12/30/healthcare-workers-stressed-about-money-new-survey-shows/). For nurses, that number is closer to 50%. ### Student debt pushes back major financial milestones The consequences of student loan debt are far-reaching and linger long after graduation. Every public service worker I spoke to said student loan debt has affected financial milestones in their lives. As Tanti put it, "It has affected any major 'adult' decision I plan on making. Moving out, buying a car, going back to school, etc. I now have to consider if I can afford these things alongside my student loans." Going back to school was a common desire for many I spoke to, but like Hana, student loans are holding them back. "I would love to go to school again," she told me, "but I just don't think it's in the cards for me because I don't want to pay those loans. I don't think I want to with how much it costs." According to Pew Research Center, [only 22% of adults in the U.S. believe going to college is worth taking out loans](https://www.forbes.com/sites/debgordon/2022/12/30/healthcare-workers-stressed-about-money-new-survey-shows/). Loan payments also prevented another public service worker I spoke to from seeking further education. "When I was about to graduate from my undergraduate program, I wanted to get my masters, but I didn't want to take out more loans. I was trying to find a job that had a tuition repayment plan or tuition coverage and I wasn't able to find one, so I didn't end up going." Smiling, they said, "You know, if I had an employer that paid for my tuition, I would go back to school in a heartbeat." ## Student loans disproportionately burden marginalized groups Student debt is a particularly heavy burden for most [marginalized groups](https://www.cultureally.com/blog/what-does-marginalized-mean-and-why-does-it-matter). According to the Legal Defense Fund, these groups are [forced to take out higher loans more often](https://www.naacpldf.org/student-loans-racial-wealth-gap/#:~:text=The%20racial%20gap%20in%20student,even%20for%20generations%20to%20come.) due to limited resources and intergenerational wealth gaps. Taking on significant debt contributes long-term to wealth disparities, a topic brought up by several of the public service workers I spoke to. Student debt is especially difficult on women, people-of-color, immigrants, and first-generation college students - and many people fit into more than one, if not all, of these groups. Financial strain is particularly pronounced among marginalized individuals because they [earn less over their lifetimes regardless of educational attainment](https://apps.urban.org/features/wealth-inequality-charts/), making it difficult to pay off debt. According to the Bureau of Labor Statistics, [8 in 10 healthcare workers are women, 4 in 10 are people-of-color, and nearly 20% are immigrants](https://www.bls.gov/spotlight/2023/healthcare-occupations-in-2022/). Having a diverse workforce is crucial to maintaining quality care for a diverse population. However, the high price of medical education means these individuals must knowingly take on crippling debt that will affect the rest of their lives and, potentially, future generations. Tanti, a NICU nurse, faced setbacks to earning her degree. Though initially awarded scholarships and grant aid that would have left her debt-free after her bachelors, it was all taken away due to her immigrant status. "Unfortunately, I ran into immigration issues that halted my educational plans and completely changed my college educational path. I was enrolled in a Bachelors and Masters public health program that I had to drop before I could even start. **I went from being an in-state student with my educational expenses fully covered, to being labeled as an out-of-state student without any scholarships or financial aid.**" Tanti was forced to take out loans in order to continue her education. Student loan debt is a barrier to improving the economic situation of marginalized groups. In a society where being a woman, person-of-color, or immigrant is already challenging, [the rising price of higher education](/blog/understanding-rising-college-costs) forces students to take out higher loans, further disempowering these groups and allowing the cycle of disadvantage to continue. ## A healthcare shortage means patients suffer There has been a significant increase in turnover throughout the public service sector since the COVID-19 pandemic began, but it's especially devastating in healthcare. According to a study by Mercer, [the work experience in healthcare is rated as "one of the worst across industries,"](https://www.mercer.com/en-us/insights/talent-and-transformation/attracting-and-retaining-talent/inside-employees-minds-healthcare-edition-2024/) with 50% of workers reporting that they feel "overworked to the extent they are looking to change jobs or planning early retirement." This poses a real problem for the public as workforce turnover in healthcare results in substantial costs for both patients and organizations. [A major shortage in key allied health positions is projected within the next 12 years](https://bhw.hrsa.gov/data-research/projecting-health-workforce-supply-demand), the most dramatic shortages in physicians, nurses, healthcare educators, and midwives. As it is, supply is not projected to keep up with the demands of the public: [only 78% of primary care needs are estimated to be met in 2036](https://data.hrsa.gov/topics/health-workforce/workforce-projections). But shortages are not the only issue - healthcare worker morale is a key component to keeping the nation healthy. The American Medical Association warns that [staff dissatisfaction has "unfavorable implications for patient care even without staffing shortages."](https://jamanetwork.com/journals/jama-health-forum/fullarticle/2814360) ### Employers are not meeting the financial needs of healthcare workers A Mercer survey found that a majority of the top [unmet needs of healthcare workers are financial](https://www.mercer.com/en-us/insights/talent-and-transformation/attracting-and-retaining-talent/inside-employees-minds-healthcare-edition-2024/) in nature, including the ability to cover monthly expenses and pay off personal debt. "Student loan debt is debilitating if you're not making a lot of money," said Hana, who has been paying off her loans for the last decade. "A good amount of my expenses were my student loan payments." [Only 52% of healthcare workers believe they're paid fairly](https://www.qualtrics.com/ebooks-guides/2023-healthcare-trends-report/), one of the lowest scores of any industry according to a Qualtrics report. Though the median salary for healthcare workers is above the national average at [$80k](https://www.bls.gov/ooh/healthcare/home.htm) according to the Bureau of Labor Statistics, [66%](https://www.everee.com/blog/2024-healthcare-staffing-report/) of healthcare workers are living paycheck-to-paycheck and [44%](https://www.mercer.com/en-us/insights/talent-and-transformation/attracting-and-retaining-talent/inside-employees-minds-healthcare-edition-2024/) say it's a financial hardship to afford their own medical care. A key reason for this is student loan debt, which nearly 70% of healthcare workers have to pay off. Though the average individual loan for healthcare workers is around $200k, [graduates often pay $300k over the life of their loans due to interest charges](https://www.bankrate.com/loans/student-loans/average-medical-school-debt/#:~:text=The%20average%20medical%20school%20debt%20is%20over%20%24200%2C000%20%E2%80%94%20a%20hefty,make%20progress%20on%20the%20loan), which means some student borrowers will pay upwards of $100k in interest alone. "I am concerned about the hefty interest rate that my private student loans have," said Tanti, who graduated earlier this year. "I fear that it may make paying them off impossible." **"Debt is not a state of being we should be okay being in,"** stated Hana, who left the healthcare field in late-2020 to become a piano teacher, a career move that actually allowed her to start chipping away at her loans. And though finances were not the only thing driving her from her role as a music therapist, Hana is much happier and in a better financial situation now that she's left. Many are not far behind. [46% of healthcare workers say they're likely to leave their current job in the next 12 months due to lack of compensation](https://www.everee.com/blog/2024-healthcare-staffing-report/). With shortages already within the medical field, the public cannot afford to lose any more. ## Increase compensation to support the workforce "While passion is a key factor for many in the healthcare industry, it's not sustainable on its own," stated a report by Everee. "[Fair compensation is crucial to shaping worker satisfaction](https://www.everee.com/blog/2024-healthcare-staffing-report/)." With financial strain weighing most heavily on healthcare workers, it's time employers start meeting their needs. ### Healthcare workers need financial assistance The financial burden on healthcare workers is steep, and after a physically and emotionally draining workday, it's easy to start questioning whether passion is worth the personal cost. "It's like you have to take care of yourself," one former healthcare worker told me. They shared how disheartening it was to give so much to an employer that was giving back so little. "I don't remember them paying for anything." Some hospitals do help cover continuing education costs and even contribute toward employee student loans, but actually seeing this benefit can be difficult. There may be a minimum number of years of employment before healthcare workers are eligible, and in some cases, they only help with certain types of loans. Erin wrote, "The help with student loans is very new here. My hospital pays $10k a year to help me pay off my private loan, but nothing toward federal." ### Employer student loan assistance can be life-changing Providing student loan assistance could alter the trajectory of the healthcare shortage, attracting and retaining vital care workers. [86% of employees say they'd stay with an employer for at least 5 years if that employer contributed to paying off loan debt](https://www.shrm.org/topics-tools/news/benefits-compensation/employers-explore-repaying-student-loan-debt). A recent graduate told me student loan repayment programs played a key role in them accepting a job offer. For Tanti, Though she doesn't yet qualify for the student loan repayment benefit through her hospital, she looks forward to it. "An employer paying off my student loans would significantly lift some of the burdens I have and improve my mental health. All of my life, I have not always had even the bare minimum of what I need to thrive, and having this heavy monthly bill feels like I'm being punished for doing something to positively change my life. **Having help paying off my loans will allow me to save more, invest in my future, and go back to school.**" Offering a student loan repayment benefit is an easy way to take financial strain off the shoulders of healthcare workers. Services like [Paidly](/) make setting up this benefit easy. #### Employee student loan assistance services Easily offer student loan repayment benefits. Download our free guide or visit our [employer benefit page](/employer) to learn how to relieve employee financial stress. [Download](https://cdn.meetpaidly.com/assets/pdf/Help-Employees-GAIN-Financial-Freedom-with-Paidly.pdf) So far we've covered [education](/blog/teachers-struggle-under-student-loan-debt) and healthcare. In our last deep dive, we'll look at [how student loan debt is impacting nonprofit staff](/blog/student-debt-weighs-down-nonprofit-staff). _Thank you to everyone who generously shared their experiences with me. Quotes were lightly edited for clarity and names of interviewees were included in this article with permission._ #### Table of Contents - #### Let's Talk Repayment Benefits Talk to one of our team of experts that will answer any questions [Talk to an Expert](/contact-sales) [](/blog/author/samantha-park) #### [Samantha Park](/blog/author/samantha-park) Samantha Park is a writer with a background in public service work. She earned a M.S. in Professional Writing from Towson University where she focused on writing for the private and public sectors, and has previously graduated with an A.A. in Psychology from Anne Arundel Community College and a B.A. in Sociology from the University of Maryland College Park. Samantha has worked within and alongside the public sector for over a decade and cares deeply about empowering marginalized youth, expanding access to opportunity through education, and increasing community involvement. [](https://www.linkedin.com/in/samanthaparkyoung "LinkedIn") #### Stay Ahead of the Curve Get the latest insights on student loan repayment, 529 contributions, and maximizing employer benefits delivered to your inbox. Join the list By submitting your email, you agree to receive emails from Paidly and acknowledge that you can unsubscribe at any time. * * * The information provided is of a general nature and an educational resource. It is not intended to provide advice or address the situation of any particular individual or entity. Any recipient shall be responsible for the use to which it puts this document. Paidly shall have no liability for the information provided. While care has been taken to produce this document, Paidly does not warrant, represent or guarantee the completeness, accuracy, adequacy, or fitness with respect to the information contained in this document. The information provided does not reflect new circumstances, or additional regulatory and legal changes. The issues addressed may have legal, financial, and health implications, and we recommend you speak to your legal, financial, and health advisors before acting on any of the information provided. ### You may also like [Founder's Notes](/blog/category/founders-notes) 5 min read ## [The HR Guide to Using Your Entire Education Budget](/blog/the-hr-guide-to-using-your-entire-education-budget) Your education budget can do a lot more than just pay for tuition. Learn how adding student loan repayment can expand your benefits without expanding your budget. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) Aug 26, 2026 [For Individuals](/blog/category/individuals) 4 min read ## [Education Benefits You Should Know About](/blog/education-benefits-you-should-know-about) Education benefits like 529 savings, tuition reimbursement, and student loan repayment can help you reduce education costs during every stage of your career. [](/blog/author/team-paidly)[Team Paidly](/blog/author/team-paidly) Aug 07, 2026 [For Individuals](/blog/category/individuals) 5 min read ## [ABLE Accounts and 529 Plans: A Flexible Savings Strategy](/blog/what-is-an-able-account-529a) Learn how 529 plans and ABLE accounts work together to make your savings even more supportive. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Jul 22, 2026 --- # Nonprofit Staff Weighed Down by Student Debt URL: https://meetpaidly.com/blog/student-debt-weighs-down-nonprofit-staff Description: Nonprofit staff strengthen communities, but end up overworked and underpaid. Student debt forces them to choose between passion and payments. [Home](/ "Home")[Blog](/blog "Blog")[Borrower Experiences](/blog/category/borrower-experiences "Borrower Experiences")Nonprofit Staff Weighed Down by Student Debt # Debt vs. Service: The Struggle in Nonprofits Nonprofit workers are overworked and underpaid, and student loan payments are making things worse. Our communities need dedicated and passionate individuals - but passion doesn’t always pay the bills. [](/blog/author/samantha-park) [Samantha Park](/blog/author/samantha-park) Sep 23, 202413 min read [](https://www.facebook.com/sharer/sharer.php?u=https://meetpaidly.com/blog/student-debt-weighs-down-nonprofit-staff "Share to Facebook") [](https://twitter.com/intent/tweet/?text=Debt%20vs.%20Service%3A%20The%20Struggle%20in%20Nonprofits&url=https://meetpaidly.com/blog/student-debt-weighs-down-nonprofit-staff "Share to Twitter") [](https://www.linkedin.com/sharing/share-offsite/?url=https://meetpaidly.com/blog/student-debt-weighs-down-nonprofit-staff "Share to Linkedin") [](mailto:?Subject=Debt%20vs.%20Service%3A%20The%20Struggle%20in%20Nonprofits&Body=Check%20this%20out%21%0Ahttps%3A%2F%2Fhttps://meetpaidly.com/blog/student-debt-weighs-down-nonprofit-staff "Share to Email") ## Key Takeaways - **Low pay and high workloads are causing a service shortage in the nonprofit sector.** 41% of people choose to leave their nonprofit jobs due to unfair compensation and benefits. 74% of those vacant positions provide direct service to the public. - **Organizations struggle to offer competitive pay due to funding challenges.** Most nonprofits are operating under $50k annually and rely heavily on donations and grants. Unfortunately, most grants won’t pay toward employee salaries. - **Nonprofit staff need financial benefits to supplement their income.** Adding an employer student loan assistance benefit could save employees thousands of dollars and years of payments with just a $25 monthly contribution from their employer. * * * In previous articles of [Debt vs. Service](/blog/student-loan-debt-draining-public-service-workers), we looked at how student debt is burdening the nation’s [educators](/blog/teachers-struggle-under-student-loan-debt) and [healthcare workers](/blog/student-debt-hurts-healthcare). In our final deep dive, I spoke with nonprofit staff to understand how student loans are affecting them. Having worked in the sector myself, their struggles were no surprise: nonprofit staff are overworked and underpaid - which is forcing many of them to move on in order to afford student loan payments. ## Nonprofit staff are weighed down by student debt Nonprofits strengthen communities by providing resources and services to the public. However, according to the [Nonprofit Student Debt Project](https://calnonprofits.org/nonprofit-student-debt-project/), student loan debt is “hurting recruitment, retention and diversity in the nonprofit workforce.” Nearly [two-thirds of nonprofit staff](https://www.bls.gov/spotlight/2023/for-profit-nonprofit-and-government-sector-jobs-in-2022/home.htm) have earned a bachelor's degree or higher, but typically earn less than their for-profit counterparts. With the [average federal student loan debt at $37k](https://educationdata.org/student-loan-debt-statistics#:~:text=The%20average%20federal%20student%20loan,financial%20quarter%20\(2021%20Q4\).), it’s increasingly difficult for nonprofit workers to gain financial freedom. Many people I spoke to said the pressure to go to college made taking out loans inevitable. “No one really talked to me about loans or anything. I was just like, ‘Okay, cool. I'm just gonna go to school,’” said Kourtney, a grants associate and nonprofit consultant. “Everyone told you to go to college, so you just went to college and didn't really think about the loan part of that.” Like many others, Kourtney took out loans without truly understanding what it meant. **“You don't have a concept of how much money that is at that age. That was a small salary. That was more money than my mom made in a year, that I just took out on a Tuesday.”** Consequences of those loans were often not fully realized until after payments started post-graduation. “I thought I would be able to pay a lot more toward them. You know, you get the offer letter, you have your salary, and it seems like, ‘Oh, okay, this is perfect. I can do this.’ And then you start living and it doesn't really go as far as you thought it would,” said Justine, a development associate and grant writer. Both she and Kourtney told me paying off their loans is taking much longer than expected. “I kind of accepted I'm always gonna have some debt somewhere.” ## Student loan debt is a constant burden Relatively low pay for many nonprofit jobs makes the strain of student loan debt even harder to swallow. “I have to always think about the car payment, the gas bill, the water bill, the electric bill, the rent, the power, the student loans, and the insurance,” said one nonprofit worker. “They all are the same general cost of living.” Like other public service work, nonprofit staff sometimes have to take on multiple jobs to get by. “At 20, I was like ‘Oh my god, I have all these loans. I don’t know what to do.’ I super anxiously got four jobs and I worked four jobs,” said Kourtney, who has worked multiple jobs for over a decade. She is currently a grant writer, nonprofit consultant, and student. “I definitely have to be innovative about what I could do to earn money and cut back to just afford the minimum.” In 2023, Kourtney and her fiancé took in her cousin, a minor who needed family support. Adding another person to their household and navigating familial hardships was financially and emotionally straining. “It’s very taxing. And it's hard to do that stuff while also trying to pay back debt and work and maintain a kind of home-life while maintaining some kind of individuality.” ### Debt influences everyday decision-making The effects of student loans are far-reaching. For Justine, who graduated in 2022, loan payments have already started to affect her life on a larger scale. “It affects how I make decisions in general, especially when it comes to finances,” she told me. Recently, she’s been burdened with vehicle issues. “I have to get my car fixed right now and I'm like, well, it’s not an urgent thing that I need to get fixed. So I can either pay this or make bigger payments on my loans and pay that off faster.” Another public service worker wrote, “I decided not to buy a new car when I had my first baby, since I had already paid off the car I had at the time. It was not worth getting an SUV and having a car payment when I already had such high student loan payments.” Kourtney told me, “My fiancé and I have no children and no dog. We keep thinking about having kids because right now we have more time but we don't have money if God forbid something happened, we'd be grasping at… we’d be spending down our savings to just stay healthy.” Both she and her fiancé have chronic illnesses that have at times brought on unexpected financial stress. **“I think that's what I worry about most, is suddenly being in a position where I'm the primary breadwinner and I'm still paying off these loans.”** ### Student loan repayment leads to long term sacrifices [71% of people with student debt delay major life goals](https://news.gallup.com/poll/643328/student-loan-borrowers-delayed-major-life-events.aspx) such as buying a car, homeownership, and parenthood. Putting off these milestones was a common theme amongst people I spoke to, nearly all of them mentioning how dreams they thought they’d have achieved by now are nowhere within reach. “I’m 32 this year and my friends are 35, and nobody has any kids!” said Kourtney. “It's like, those are things that you're supposed to do while you're in your 20s. Everything's pushed back ten, fifteen years.” She said many of her friends are “house-broke” - able to afford where they live and nothing more. Like Kourtney and her friends, [a third of borrowers delay parenthood](https://www.wgulabs.org/posts/drowning-in-debt-student-loans-weigh-down-borrowers) and some are choosing not to pursue it altogether due to student loans. A New York Times survey found that of people who have chosen not to have children, [13%](https://www.nytimes.com/2018/07/05/upshot/americans-are-having-fewer-babies-they-told-us-why.html) were influenced by their indebtedness. ## PSLF is a promising solution with disappointing results [Public Service Loan Forgiveness](https://studentaid.gov/manage-loans/forgiveness-cancellation/public-service) (PSLF) is a federal program meant to relieve dedicated public service workers of debt after ten years of regular payments, and many organizations within the nonprofit sector tout its potential for retaining the workforce. However, with a [2.3% acceptance rate](https://educationdata.org/student-loan-forgiveness-statistics#:~:text=In%20the%20program's%20first%20year,total%20claim%20denials%20increased%20128%25.), PSLF isn’t a realistic solution for most. One nonprofit staff member told me, “I think on one hand, PSLF is a good incentive to keep people in the nonprofit sector because we need those people, right? And you want them to stay. But it feels like a double-edged sword with it being to get your loans forgiven. Ten years is such a long time.” With high turnover rates in nonprofits, staying long enough with an organization in order to have the remaining loan balance forgiven is currently unrealistic for many workers. After only working in the nonprofit sector for over a year, they’re already considering whether they should leave, in part for financial reasons. “I don't want to quit, but I do think about it from time to time. If you have a lot of student loans, you know, that's a consideration you have to think about.” _For more information on how PSLF works, see our article, [Navigating Public Service Loan Forgiveness](/blog/navigating-public-student-loan-forgiveness)_. ## Nonprofit staff are overworked and underpaid Retention is a serious problem for the nonprofit sector. Having left my nonprofit job along with a majority of my peers in 2021, I am well-acquainted with how taxing work within these organizations can be. According to the [2024 State of Nonprofits](https://cep.org/report-backpacks/state-of-nonprofits-2024-what-funders-need-to-know/?section=intro), 75% of nonprofits feel burnout is impacting their ability to achieve their missions. [Burnout is the “visible symptom of an invisible problem,”](https://cep.org/blog/to-ensure-nonprofit-well-being-invest-in-wages-workload-and-working-conditions/) said a Center for Effective Philanthropy article. The invisible problem? An unrealistic workload caused by understaffing. Working in nonprofits was once described to me as having to “wear all the hats all the time.” Where a for-profit company may have many staff able to take on specific roles, most nonprofits have to get by with as few staff as possible. I once had a position where I was expected to be a program director, volunteer coordinator, payroll manager, communications specialist, and data analyst all while being paid less than a living wage. **Interested in what a living wage looks like in your state? Check out [MIT’s Living Wage Calculator](https://livingwage.mit.edu/).** Having so many roles and responsibilities may sound excessive, but it’s not uncommon. Every nonprofit staff member I have ever worked with had multiple roles with responsibilities well outside of their job descriptions. This is mainly due to how nonprofits are funded and what that funding is willing to cover. ### The landscape of philanthropy is part of the problem There are [1.8 million registered nonprofit organizations](https://www.irs.gov/statistics/soi-tax-stats-tax-exempt-organizations-and-nonexempt-charitable-trusts-irs-data-book-table-14) in the United States. [70%](https://candid.org/explore-issues/us-social-sector) have ten or fewer paid staff members and are operating with annual revenues of less than $50k. Many smaller nonprofits rely heavily on grants, especially in the early years, and most grants are seeking to fund projects and programs, not general operating costs like salaries. This means funders are granting money for direct service work to happen but that money is not reaching the staff who actually do the work. As a result, nonprofits are forced to find money for employee salaries elsewhere, a difficult position when [salaries make up 47% of operating costs](https://www.shrm.org/content/dam/en/shrm/research/benchmarking/Human%20Capital%20Report-SECTOR-NONPROFIT.pdf). With the current landscape of philanthropy, it’s difficult for nonprofits to pay their existing employees a fair wage and nearly impossible to bring on enough staff to lessen their workloads. The result is disheartened and disengaged workers, who eventually choose to seek employment elsewhere. ### High staff turnover affect those in need According to a [survey](https://www.nonprofithr.com/2023-social-impact-talent-retention-practices-survey/) on retention practices, decreased morale had the most significant impact on employees choosing to leave the nonprofit sector. [The turnover rate is a staggering 30%](https://www.shrm.org/content/dam/en/shrm/research/benchmarking/Human%20Capital%20Report-SECTOR-NONPROFIT.pdf), well above the national average, and it doesn’t seem to be getting better anytime soon: a majority of nonprofits expect turnover to increase or stay the same, with [3 of every 4 organizations](https://www.councilofnonprofits.org/nonprofit-workforce-shortage-crisis) reporting vacancies. [74% of those vacancies provide direct service to the public](https://www.councilofnonprofits.org/nonprofit-workforce-shortage-crisis). This poses a real issue for our communities, as a shortage of nonprofit workers means longer wait times and reduced services. “You need more people to do the stuff that's already happening when you're increasing the kind of direct service that we need. And it's direly needed, especially post-COVID,” said Kourtney. Not having enough people in these positions means those seeking help cannot access resources and support when they need it. ## Fair compensation should be a top priority The [top three reasons](https://cep.org/report-backpacks/state-of-nonprofits-2024-what-funders-need-to-know/?section=intro) for above average turnover rates in the nonprofit sector are the inability to provide competitive pay, inability to provide competitive benefits, and burnout. [72%](https://www.councilofnonprofits.org/nonprofit-workforce-shortage-crisis) of nonprofits report salary competition affects their ability to recruit and retain workers. One nonprofit worker I spoke to told me, **“I'm lucky because the organization I work for, they do pay really well. But I find myself saying, ‘Really well _for a nonprofit_.’”** According to [Payscale](https://www.payscale.com/research/US/Industry=Non-Profit_Organization/Salary), the average salary for all nonprofit staff is $70k, but positions range widely with higher pay in leadership and executive roles. The annual pay for most public-facing, direct service positions is much less: [$33k for community outreach coordinators](https://www.payscale.com/research/US/Industry=Non-Profit_Organization/Salary), [$45k for volunteer coordinators](https://www.payscale.com/research/US/Job=Volunteer_Coordinator/Salary), and [$50k for program coordinators](https://www.payscale.com/research/US/Job=Program_Coordinator%2C_Non-Profit_Organization/Salary). Low pay on top of regular student loan payments means many nonprofit workers find it difficult to make ends meet and are forced to choose higher paying jobs over their community-based work. [41% of people choose to leave their nonprofit jobs due to unfair compensation and benefits](https://www.nonprofithr.com/2023-social-impact-talent-retention-practices-survey/). “As much as I love working with nonprofits, I think they're notorious for not being able to pay as much as for-profit companies. So it just makes it tricky when you're trying to think of the outlook of where you might be in a few years. You're not going to be as far ahead as maybe some other people working in the for-profit industry,” Justine told me. “This isn't something you do because you wanna be rich,” stated Kourtney, who started working for a domestic violence shelter earlier this year. We talked at length about the impact nonprofits have on their communities, as well as the difficulties their employees face. The main takeaway? Communities need dedicated individuals to do what is sometimes emotional and draining service work - and nonprofits need to compensate those individuals fairly. ### Increasing benefits could keep nonprofits afloat To help attract and retain employees, the [Chronicle of Philanthropy](https://jobs.philanthropy.com/article/the-nonprofit-hiring-crisis#:~:text=After%20two%20years%20of%20taking,their%20needs%20to%20their%20bosses) advises increasing pay and offering “perks”. Though increasing employee pay can be difficult for nonprofits who rely mainly on donations and grants to operate, [82% of organizations say they plan to use compensation and benefits as a retention strategy](https://www.nonprofithr.com/2023-social-impact-talent-retention-practices-survey/). An especially attractive perk nonprofits could offer is employer student loan repayment. When I brought it up to Justine, she said, “**Student loan repayment would be a huge benefit** and I think it encourages professional development as well because if people are getting help paying off their loans I think they might decide to go back to school for another degree and that ultimately helps the organization because they're developing that talent and that skill set.” “Having organizations help pay off employee student loans would be an incentive in itself to stay,” said a nonprofit worker who is considering leaving the sector. [86% of employees agree, saying they would stay with an employer for at least five years if offered loan assistance](https://www.shrm.org/topics-tools/news/benefits-compensation/employers-explore-repaying-student-loan-debt). The good news is that adding this benefit doesn’t have to break the bank. $25 a month toward an employee’s student debt costs an organization just $300 annually but can save their employee thousands of dollars and years worth of repayment. _Want to see what offering employer student loan assistance could save your nonprofit? Try out our [Return on Investment calculator](/calculators/employer-student-loan-repayment-roi-calculator)_. With the need to attract and retain nonprofit workers growing even more important, adding an employee student loan repayment benefit is a simple way to help passionate people stay where they’re needed most. Services like [Paidly](/) make setting up and distributing this benefit easy. #### Employee student loan assistance services Easily offer student loan repayment benefits. Download our free guide or visit our [employer benefit page](/employer) to learn how to relieve employee financial stress. [Download](https://cdn.meetpaidly.com/assets/pdf/Help-Employees-GAIN-Financial-Freedom-with-Paidly.pdf) Throughout [Debt vs. Service](/blog/student-loan-debt-draining-public-service-workers), we’ve covered why public service workers are struggling with student loan debt, how PSLF is failing them, and the ways in which student debt is impacting real [educators](/blog/teachers-struggle-under-student-loan-debt), [healthcare workers](/blog/student-debt-hurts-healthcare), and nonprofit staff. In our final article, I’ve compiled everything public service workers want students to know before taking out loans - including how to set up their future selves for financial freedom. _Thank you to everyone who generously shared their experiences with me. Quotes were lightly edited for clarity and names of interviewees were included in this article with permission._ #### Table of Contents - #### Let's Talk Repayment Benefits Talk to one of our team of experts that will answer any questions [Talk to an Expert](/contact-sales) [](/blog/author/samantha-park) #### [Samantha Park](/blog/author/samantha-park) Samantha Park is a writer with a background in public service work. She earned a M.S. in Professional Writing from Towson University where she focused on writing for the private and public sectors, and has previously graduated with an A.A. in Psychology from Anne Arundel Community College and a B.A. in Sociology from the University of Maryland College Park. Samantha has worked within and alongside the public sector for over a decade and cares deeply about empowering marginalized youth, expanding access to opportunity through education, and increasing community involvement. [](https://www.linkedin.com/in/samanthaparkyoung "LinkedIn") #### Stay Ahead of the Curve Get the latest insights on student loan repayment, 529 contributions, and maximizing employer benefits delivered to your inbox. Join the list By submitting your email, you agree to receive emails from Paidly and acknowledge that you can unsubscribe at any time. * * * The information provided is of a general nature and an educational resource. It is not intended to provide advice or address the situation of any particular individual or entity. Any recipient shall be responsible for the use to which it puts this document. Paidly shall have no liability for the information provided. While care has been taken to produce this document, Paidly does not warrant, represent or guarantee the completeness, accuracy, adequacy, or fitness with respect to the information contained in this document. The information provided does not reflect new circumstances, or additional regulatory and legal changes. The issues addressed may have legal, financial, and health implications, and we recommend you speak to your legal, financial, and health advisors before acting on any of the information provided. ### You may also like [Founder's Notes](/blog/category/founders-notes) 5 min read ## [The HR Guide to Using Your Entire Education Budget](/blog/the-hr-guide-to-using-your-entire-education-budget) Your education budget can do a lot more than just pay for tuition. Learn how adding student loan repayment can expand your benefits without expanding your budget. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) Aug 26, 2026 [For Individuals](/blog/category/individuals) 4 min read ## [Education Benefits You Should Know About](/blog/education-benefits-you-should-know-about) Education benefits like 529 savings, tuition reimbursement, and student loan repayment can help you reduce education costs during every stage of your career. [](/blog/author/team-paidly)[Team Paidly](/blog/author/team-paidly) Aug 07, 2026 [For Individuals](/blog/category/individuals) 5 min read ## [ABLE Accounts and 529 Plans: A Flexible Savings Strategy](/blog/what-is-an-able-account-529a) Learn how 529 plans and ABLE accounts work together to make your savings even more supportive. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Jul 22, 2026 --- # The Student Debt Crisis Crippling Public Service Workers URL: https://meetpaidly.com/blog/student-loan-debt-draining-public-service-workers Description: Student loan debt is costing America public service workers. It’s time for employers to do something about it. [Home](/ "Home")[Blog](/blog "Blog")[Borrower Experiences](/blog/category/borrower-experiences "Borrower Experiences")The Student Debt Crisis Crippling Public Service Workers # Debt vs. Service: The Dilemma of America’s Essential Workers Student loan debt is physically, mentally, and financially draining public service workers. It’s time to do something about it. [](/blog/author/samantha-park) [Samantha Park](/blog/author/samantha-park) Updated: Sep 10, 20245 min read [](https://www.facebook.com/sharer/sharer.php?u=https://meetpaidly.com/blog/student-loan-debt-draining-public-service-workers "Share to Facebook") [](https://twitter.com/intent/tweet/?text=Debt%20vs.%20Service%3A%20The%20Dilemma%20of%20America%E2%80%99s%20Essential%20Workers%20&url=https://meetpaidly.com/blog/student-loan-debt-draining-public-service-workers "Share to Twitter") [](https://www.linkedin.com/sharing/share-offsite/?url=https://meetpaidly.com/blog/student-loan-debt-draining-public-service-workers "Share to Linkedin") [](mailto:?Subject=Debt%20vs.%20Service%3A%20The%20Dilemma%20of%20America%E2%80%99s%20Essential%20Workers%20&Body=Check%20this%20out%21%0Ahttps%3A%2F%2Fhttps://meetpaidly.com/blog/student-loan-debt-draining-public-service-workers "Share to Email") ## Key Takeaways - **Public service workers feel undervalued, overworked, and unfairly paid.** Insufficient pay leads many to struggle financially, lowering worker morale. - **Student loan debt is a significant burden for many.** Every public service worker I spoke to said student loan debt had a negative impact on their lives. - **Public Service Loan Forgiveness has not lived up to its promises.** Only 2.3% of eligible applicants have been accepted into the federal program. - **Employer student loan repayment benefits would boost employee retention.** 86% of employees say they would commit to an employer for at least 5 years if they received student loan assistance. * * * Public service workers are the backbone of our communities, yet many feel they’re getting the short end of the stick. With rising turnover rates and greater demand from the public, we’re headed toward a public service shortage - one where everyone loses. To further understand what’s really impacting those in public service, I talked to a number of public service workers to see how student loan debt is impacting their lives, and in some cases, leading them to quit. ## A Public Service Work Shortage There are an estimated [9 million public service workers](https://protectborrowers.org/new-analysis-more-than-9-million-public-service-workers-with-federal-student-loans-eligible-for-debt-cancellation-fewer-than-2-percent-have-received-relief-and-only-15-percent-on-track/#:~:text=Based%20on%20the%20SBPC's%20analysis,less%20than%202%20percent%20of) in the United States doing critical roles. Many of these workers are fed up with low pay and high expectations. This poses a problem for the future of the sector as the number of workers [cannot keep up](https://www.governing.com/workforce/public-sector-workforce-returns-to-pre-pandemic-levels-but-gaps-persist#:~:text=The%20workforce%20pool%20has%20dropped,Tags:) with the needs of the public. The issue is twofold: not enough recent graduates are entering public service work and too many current workers are leaving. Because a majority of public service workers choose to leave their jobs due to lack of compensation and unrealistic workloads (which was the case for myself and several people I talked to), the future of the sector rests on retention and attracting new graduates. ## The Toll of Student Loans One of the biggest financial issues public service workers face is student loan debt. The average graduate’s federal student loan debt in 2024 is [$37,853](https://studentaid.gov/data-center/student/portfolio), and it can take decades to pay off. Every person I spoke to said student loan debt had a negative impact on their lives, often forcing them to push back personal milestones such as homeownership and parenthood. Student loan debt is an especially significant burden for [women, people of color, immigrants, and first-generation college students](https://joinhandshake.com/network-trends/gen-z-career-goals-ai-economy/). Losing these workers to the higher-paying private sector means less diversity and fewer inclusive viewpoints within the public sector, ultimately hurting how the public is served. With the [rising cost of higher education](https://www.forbes.com/advisor/student-loans/college-tuition-inflation/), student loan debt both prevents new workers from entering public service roles and pushes current workers out. Though a federal repayment program exists for these workers, they’re not viable options for many. Employers are going to have to step in if they want to keep their workforce. ### The Public Service Loan Forgiveness Let-Down The [Public Service Loan Forgiveness](https://studentaid.gov/manage-loans/forgiveness-cancellation/public-service) (PSLF) program is available to public service workers with student loan debt. It’s meant to let public service workers make monthly minimum payments on their federal loans for ten years, after which the rest of the balance is forgiven. Since it takes most borrowers [over twenty years](https://educationdata.org/average-student-loan-debt) to pay off their federal loans, PSLF could save public service workers thousands of dollars and years of payments - when it works. Though seen as a way to attract and retain public service workers, especially in the nonprofit sector, PSLF has failed to live up to its promise. A study by the [Student Borrower Protection Center](https://protectborrowers.org/new-analysis-more-than-9-million-public-service-workers-with-federal-student-loans-eligible-for-debt-cancellation-fewer-than-2-percent-have-received-relief-and-only-15-percent-on-track/#:~:text=Based%20on%20the%20SBPC's%20analysis,less%20than%202%20percent%20of) found that very few eligible workers are reaping the benefits of the program. The issue appears twofold: 1. Public service workers are unaware or feel discouraged about their ability to be accepted into PSLF - causing just [15% of eligible workers](https://protectborrowers.org/new-analysis-more-than-9-million-public-service-workers-with-federal-student-loans-eligible-for-debt-cancellation-fewer-than-2-percent-have-received-relief-and-only-15-percent-on-track/#:~:text=Based%20on%20the%20SBPC's%20analysis,less%20than%202%20percent%20of) to file for the program. 2. [PSLF has only accepted 2.3% of applicants](https://educationdata.org/student-loan-forgiveness-statistics#:~:text=In%20the%20program's%20first%20year,total%20claim%20denials%20increased%20128%25.), meaning even eligible workers are unlikely to get in. Less than half a percent (0.3%) of eligible workers have been accepted into the program since November 2020 - arguably one of the most crucial times for financial relief after the strain on public service workers throughout the COVID-19 pandemic. Though PSLF seems promising, it’s not currently an accessible option for most. For more information on how PSLF works, see our article, [Navigating Public Service Loan Forgiveness](/blog/navigating-public-student-loan-forgiveness). ## An Employer Student Loan Repayment Solution PSLF is not reaching many public service workers, making it more important than ever to take steps to understand and initiate changes that will attract and retain the workforce. According to [Handshake’s Class of 2024 survey](https://joinhandshake.com/network-trends/gen-z-career-goals-ai-economy/), student loan assistance is emerging as a standout employer benefit, especially since nearly 70% of graduates report debt will influence their job consideration. With a staggering [86% of employees](https://www.shrm.org/topics-tools/news/benefits-compensation/employers-explore-repaying-student-loan-debt) saying they’d commit to a company for at least five years if the employer helped pay back their student loans, providing an employer student loan repayment benefit could be the answer to the public sector’s retention problem. #### Employee student loan assistance services Easily offer student loan repayment benefits. Download our free guide or visit our [employer benefit page](/employer) to learn how to relieve employee financial stress. [Download](https://cdn.meetpaidly.com/assets/pdf/Help-Employees-GAIN-Financial-Freedom-with-Paidly.pdf) ## Debt vs. Service: A Series Over the last several weeks, I’ve spoken to public service workers about how student loan debt is affecting them. What I found was pretty consistent: public service workers are feeling undervalued, overworked, and unfairly paid. A big part of that is the fact that many of them are still paying off the education it took to qualify them for public service. Throughout Debt vs. Service, I explore the ways in which student debt has shaped the lives of real individuals who’ve dedicated themselves to public service work. I talked to educators, healthcare workers, and nonprofit staff - fields vital to the nation that don’t typically see the pay or benefits of federal government positions. Our first stop? [How student loan debt is costing us teachers](/blog/teachers-struggle-under-student-loan-debt) #### Table of Contents - #### Let's Talk Repayment Benefits Talk to one of our team of experts that will answer any questions [Talk to an Expert](/contact-sales) [](/blog/author/samantha-park) #### [Samantha Park](/blog/author/samantha-park) Samantha Park is a writer with a background in public service work. She earned a M.S. in Professional Writing from Towson University where she focused on writing for the private and public sectors, and has previously graduated with an A.A. in Psychology from Anne Arundel Community College and a B.A. in Sociology from the University of Maryland College Park. Samantha has worked within and alongside the public sector for over a decade and cares deeply about empowering marginalized youth, expanding access to opportunity through education, and increasing community involvement. [](https://www.linkedin.com/in/samanthaparkyoung "LinkedIn") #### Stay Ahead of the Curve Get the latest insights on student loan repayment, 529 contributions, and maximizing employer benefits delivered to your inbox. Join the list By submitting your email, you agree to receive emails from Paidly and acknowledge that you can unsubscribe at any time. * * * The information provided is of a general nature and an educational resource. It is not intended to provide advice or address the situation of any particular individual or entity. Any recipient shall be responsible for the use to which it puts this document. Paidly shall have no liability for the information provided. While care has been taken to produce this document, Paidly does not warrant, represent or guarantee the completeness, accuracy, adequacy, or fitness with respect to the information contained in this document. The information provided does not reflect new circumstances, or additional regulatory and legal changes. The issues addressed may have legal, financial, and health implications, and we recommend you speak to your legal, financial, and health advisors before acting on any of the information provided. ### You may also like [Founder's Notes](/blog/category/founders-notes) 5 min read ## [The HR Guide to Using Your Entire Education Budget](/blog/the-hr-guide-to-using-your-entire-education-budget) Your education budget can do a lot more than just pay for tuition. Learn how adding student loan repayment can expand your benefits without expanding your budget. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) Aug 26, 2026 [For Individuals](/blog/category/individuals) 4 min read ## [Education Benefits You Should Know About](/blog/education-benefits-you-should-know-about) Education benefits like 529 savings, tuition reimbursement, and student loan repayment can help you reduce education costs during every stage of your career. [](/blog/author/team-paidly)[Team Paidly](/blog/author/team-paidly) Aug 07, 2026 [For Individuals](/blog/category/individuals) 5 min read ## [ABLE Accounts and 529 Plans: A Flexible Savings Strategy](/blog/what-is-an-able-account-529a) Learn how 529 plans and ABLE accounts work together to make your savings even more supportive. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Jul 22, 2026 --- # The Student Loan Payment Pause: Key Facts and Next Steps URL: https://meetpaidly.com/blog/student-loan-payment-pause-facts-next-steps Description: Explore the student loan payment pause, its implications, and how to prepare for the restart. Empower yourself with essential facts and strategies. [Home](/ "Home")[Blog](/blog "Blog")[For Individuals](/blog/category/individuals "For Individuals")The Student Loan Payment Pause: Key Facts and Next Steps # Understanding the Student Loan Payment Pause: Facts and Implications Navigate the Student Loan Pause: Crucial Insights for a Seamless Restart [](/blog/author/team-paidly) [Team Paidly](/blog/author/team-paidly) Updated: Jul 17, 20233 min read [](https://www.facebook.com/sharer/sharer.php?u=https://meetpaidly.com/blog/student-loan-payment-pause-facts-next-steps "Share to Facebook") [](https://twitter.com/intent/tweet/?text=Understanding%20the%20Student%20Loan%20Payment%20Pause%3A%20Facts%20and%20Implications&url=https://meetpaidly.com/blog/student-loan-payment-pause-facts-next-steps "Share to Twitter") [](https://www.linkedin.com/sharing/share-offsite/?url=https://meetpaidly.com/blog/student-loan-payment-pause-facts-next-steps "Share to Linkedin") [](mailto:?Subject=Understanding%20the%20Student%20Loan%20Payment%20Pause%3A%20Facts%20and%20Implications&Body=Check%20this%20out%21%0Ahttps%3A%2F%2Fhttps://meetpaidly.com/blog/student-loan-payment-pause-facts-next-steps "Share to Email") ## Key Takeaways - **The Student Loan Payment Pause and its Scope:** The federal government has implemented a student loan payment pause due to the financial strain of the COVID-19 pandemic. Importantly, this pause only applies to federal student loans, not private ones. Interest on the federal student loans is not accruing during this pause. - **Implications of the Pause:** Despite the temporary relief of the pause, it isn't a loan forgiveness. Borrowers should anticipate potential variable interest rates when the pause ends leading to possibly higher monthly payments. They're responsible for paying back their loans post the pause, and any missed payments will need to be reconciled. - **Preparing for the Restart:** Borrowers can prepare for the restart of payments by communicating with their loan providers, reviewing current rates, considering repayment benefits with their employers, and resorting to fundraising platforms like **[Paidly’s Friends Helping Friends.](/friends-helping-friends)** * * * After three years, Federal student loan forbearance has official end date: **August 30, 2023.** The COVID-19 pandemic has caused a significant financial strain on many individuals, including those with student loans. In response to this, the federal government implemented a student loan payment pause, which has been extended several times. Here are the facts and implications of this pause and what borrowers need to know. ## Facts The student loan payment pause was **first implemented in March 2020** and has been extended several times. The current extension is set to expire on **August 29, 2023.** During this time, borrowers with federal student loans are not required to make payments, and interest is not accruing on their loans. However, it is important to note that this pause only applies to federal student loans. Private student loans are not included in this pause, and borrowers should contact their loan providers to discuss their options. ## Implications While the student loan payment pause has provided much-needed relief for borrowers, there are some potential implications to consider. One of the most significant is the potential for variable interest rates. When the pause ends, borrowers may see their interest rates increase, which could result in higher monthly payments. Additionally, borrowers should be aware that the pause is not forgiveness. They will still be responsible for paying back their loans once the pause ends, and any missed payments will need to be made up. It is important for borrowers to prepare for the restart by reaching out to their loan providers, reviewing current rates, and discussing repayment as a benefit with their employers. ## Preparing for the Restart To prepare for the restart of student loan payments, borrowers should take several steps. First, they should reach out to their loan providers to discuss their options and ensure that they are prepared for the restart. They should also review their current interest rates and payment plans to ensure that they are still the best options for their financial situation. Another option for borrowers is to discuss repayment as a benefit with their employers. Some employers offer student loan repayment assistance as part of their benefits package, which can help employees pay down their loans faster. Finally, borrowers can utilize fundraising platforms like [Paidly’s Friends Helping Friends](https://meetpaidly.com/friends-helping-friends) to help pay down their loans. Paidly allows borrowers to create a fundraising campaign and share it with their friends and family, who can then donate to help them pay down their loans. ## Conclusion The student loan payment pause has provided much-needed relief for borrowers during the COVID-19 pandemic. However, it is important for borrowers to understand the facts and implications of this pause and prepare for the restart of payments. By reaching out to loan providers, reviewing current rates, discussing repayment as a benefit with employers, and utilizing fundraising platforms, borrowers can better prepare for the restart and manage their student loan debt. #### Table of Contents - #### Let's Talk Repayment Benefits Talk to one of our team of experts that will answer any questions [Talk to an Expert](/contact-sales) [](/blog/author/team-paidly) #### [Team Paidly](/blog/author/team-paidly) Paidly is the go-to platform for rising above student debt. We specialize in innovative solutions, such as employer student loan assistance benefits, streamlined 529 plan contributions, and crowdfunding tools for individuals and their families. Backed by nearly two decades of experience in financial technology, Paidly is committed to simplifying student loan repayment, reducing loan dependency, and empowering students to take control of their finances no matter where they are in their educational journey. [](https://www.linkedin.com/company/meetpaidly/ "LinkedIn")[](https://www.facebook.com/meetpaidly "Facebook")[](https://www.instagram.com/meetpaidly/ "Instagram")[](https://twitter.com/meetpaidly "Twitter")[](https://www.youtube.com/@paidly "YouTube")[](https://www.tiktok.com/@meetpaidly "TikTok") #### Stay Ahead of the Curve Get the latest insights on student loan repayment, 529 contributions, and maximizing employer benefits delivered to your inbox. Join the list By submitting your email, you agree to receive emails from Paidly and acknowledge that you can unsubscribe at any time. * * * The information provided is of a general nature and an educational resource. It is not intended to provide advice or address the situation of any particular individual or entity. Any recipient shall be responsible for the use to which it puts this document. Paidly shall have no liability for the information provided. While care has been taken to produce this document, Paidly does not warrant, represent or guarantee the completeness, accuracy, adequacy, or fitness with respect to the information contained in this document. The information provided does not reflect new circumstances, or additional regulatory and legal changes. The issues addressed may have legal, financial, and health implications, and we recommend you speak to your legal, financial, and health advisors before acting on any of the information provided. ### You may also like [Founder's Notes](/blog/category/founders-notes) 5 min read ## [The HR Guide to Using Your Entire Education Budget](/blog/the-hr-guide-to-using-your-entire-education-budget) Your education budget can do a lot more than just pay for tuition. Learn how adding student loan repayment can expand your benefits without expanding your budget. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) Aug 26, 2026 [For Individuals](/blog/category/individuals) 4 min read ## [Education Benefits You Should Know About](/blog/education-benefits-you-should-know-about) Education benefits like 529 savings, tuition reimbursement, and student loan repayment can help you reduce education costs during every stage of your career. [](/blog/author/team-paidly)[Team Paidly](/blog/author/team-paidly) Aug 07, 2026 [For Individuals](/blog/category/individuals) 5 min read ## [ABLE Accounts and 529 Plans: A Flexible Savings Strategy](/blog/what-is-an-able-account-529a) Learn how 529 plans and ABLE accounts work together to make your savings even more supportive. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Jul 22, 2026 --- # Pay Student Loans or Save for Retirement? URL: https://meetpaidly.com/blog/student-loans-401k-retirement-savings Description: Confused about tackling student loans while saving for 401k retirement? Maximize your savings and pay off your loans effectively with some smart strategies [Home](/ "Home")[Blog](/blog "Blog")[For Individuals](/blog/category/individuals "For Individuals")Pay Student Loans or Save for Retirement? # Should I Pay Off My Student Loans or Save for Retirement? Striving to balance student loan repayments with retirement savings? Allow us to guide you through a simplified approach that caters to harmonizing student loans and 401k contributions. [](/blog/author/team-paidly) [Team Paidly](/blog/author/team-paidly) Updated: Jul 30, 20247 min read [](https://www.facebook.com/sharer/sharer.php?u=https://meetpaidly.com/blog/student-loans-401k-retirement-savings "Share to Facebook") [](https://twitter.com/intent/tweet/?text=Should%20I%20Pay%20Off%20My%20Student%20Loans%20or%20Save%20for%20Retirement%3F&url=https://meetpaidly.com/blog/student-loans-401k-retirement-savings "Share to Twitter") [](https://www.linkedin.com/sharing/share-offsite/?url=https://meetpaidly.com/blog/student-loans-401k-retirement-savings "Share to Linkedin") [](mailto:?Subject=Should%20I%20Pay%20Off%20My%20Student%20Loans%20or%20Save%20for%20Retirement%3F&Body=Check%20this%20out%21%0Ahttps%3A%2F%2Fhttps://meetpaidly.com/blog/student-loans-401k-retirement-savings "Share to Email") ## Key Takeaways - **Maximize** the complimentary funds from your company tossed towards your 401k retirement savings, while effectively dealing with student loans. Remember, these seemingly conflicting lifestyles can thrive together. - **Secure Act 2.0** is now your guiding star to smoother retirement savings, also reducing the stress of student loans. It takes a holistic approach, balancing both student loans and 401k contributions. - Innovative platforms like **Paidly**: Offering Student Loan Repayment Assistance, Paidly enables employers to help employees by contributing to their student loans, all as an employee benefit. * * * ## That Post-College Dilemma – Pay Off Student Loans or Start Saving for Retirement? So you've finally graduated and are venturing out into the adult world. There's a big question that starts hovering over you like a cloud. Do you start paying off those pesky student loans or contribute to your 401k retirement savings? It's a tricky predicament, we know! ## Addressing the Retirement Savings Anxiety It's totally understandable to worry when putting money into your retirement savings. There seems like there's so much else to pay for right now! But let's flip the script and think about it this way, what happens if you put everything into paying off your student loans and saving zilch for retirement? There might be nothing left for your later years. Yikes! Remember, if you're lucky enough to have an employer who matches your 401k contributions, essentially free money, should always be a priority. But the cardinal rule of paying off student loan debt, don’t miss payments. Make the minimum payment on every loan and ensure the amounts you pay fit into your monthly budget. ## Unraveling Employer Matching: A Hidden Gem Just like a magic trick, employer matching works wonders for amplifying your retirement savings. It resembles those wonderful 'two-for-one' deals, for every dollar you set aside for retirement, your employer adds another, up to a cap that's a certain percentage of your income. Talk about a fitting reward for saving, don't you agree? ### The Intersection of Employer Contributions: Student Loans and 401k Have you ever wondered what this has to do with your student loan paybacks? Be ready to be surprised. Envision this: each month, you allocate $100 for your student loans, and your employer, in turn, adds an extra 50% of this to your 401k. This means for every $100 you utilize for student loan repayments, an additional $50 burgeons in your retirement fund. Cumulatively, each month your total financial well-being experiences a growth spurt to $150, effectively addressing both student debt and retirement savings simultaneously. While this $50 contribution from your company may seem modest initially, its potential to produce exponential growth due to the magic of compounding garners more attention. Steadily chipping at your student loans while nurturing your retirement fund puts you in a financial win-win situation! ## Cracking the Student Loan 401k Match: A Defining Perk A term you may not be familiar with is the 'student loan 401k match.' Essentially, it's a profound benefit that allows simultaneous contributions to both your retirement fund and student loans, sweetened further with a company match. Suppose your annual salary amounts to $50K and you choose to contribute 4%. In this scenario, your contributions split evenly between student loans and consolidating that retirement nest egg. ### Navigating the Retirement Journey with Secure Act 2.0 One giant stride to a brighter future comes in the form of the [Secure Act 2.0](https://www.congress.gov/bill/117th-congress/house-bill/2954/text), established in 2022. Its primary aim is to assist individuals in preparing for a fruitful retirement. This law introduces substantial changes that streamline the process for both employees and employers alike. **Essential Changes:** - **Pacing RMDs (Required Minimum Distributions):** Now, you can postpone your RMDs till you reach 73, in place of 72. This age limit will increase to 75 by 2033, granting you the opportunity to amass more savings for retirement. - **End to Pre-Death RMDs for Roth Accounts:** A remarkable amendment in 2024, Roth accounts in plans will no longer have pre-death RMDs. - **Good News for Part-Time Workers:** By 2025, more part-timers will have the opportunity to save for retirement via salary deferrals. - **Catch-Up Contributions Surge:** Exciting! Beginning in 2025, individuals aged between 60 to 63 can now make greater catch-up contributions, up to $10,000! **Optional Changes:** - **Rewards for Savers:** Innovative incentives created by employers for employees to enroll in retirement savings plans. - **Student Loan Match:** Absolutely fantastic! By 2024, [your employer can match your retirement savings if you're diligently repaying your student loans](https://www.forbes.com/advisor/retirement/secure-act-2/#:~:text=Secure%20Act%202.0%20allows%20employers,%24500%20a%20month%20to%20retirement.). Farewell to student loan debt, hello to healthy retirement savings! - **The Saver's Match:** Here's a surprise: Starting in 2027, low-income workers can benefit from a federally funded match into their IRA or plan. These reforms introduced by the Secure Act 2.0 illuminate a promising future for those eager to work towards a comfortable retirement while managing student loans. Even though it may take some time for the wheels to start turning, the anticipation of smoother retirement preparations is extremely encouraging. Stay tuned for our upcoming posts elaborating on the real benefits of the Secure Act 2.0! ## Should You Pay Off Loans or Start Saving for 401k Retirement? Individuals saddled with student loans often find themselves wrestling with the concept of retirement savings. It's understandable if sequestering funds for the distant future seems overwhelming, particularly as student loan demands pile up. You should continue to make the minimum payment on your student loans, while passing any surplus in your budget to your retirement saving efforts. But remember, starting to save earlier means your financial growth gets more time. ### Proactive Approaches: 1. **Maintain Base Loan Payments:** Always make at least the minimum payment! If this proves daunting, explore [income-driven repayment plans (IDRs)](/blog/income-driven-repayment-plans). These plans adjust your monthly payments according to your budget, making them more user-friendly. 2. **Optimize your 401k Contributions:** If your employer provides a 401k match, seize it! It's essentially free money, so try to contribute as much as you can within the prescribed limit. 3. **Shake off High-interest Debt:** Handle credit card debt promptly as it grows at an alarming rate each month. Limit your credit card usage, prioritizing the repayment of your outstanding balance with any spare funds. Less debt equals greater freedom to channel more funds towards student loans and enhanced retirement savings. 4. **Explore Traditional or Roth IRA:** Employers' retirement plans aren't the only avenues for saving for retirement. Contemplate making tax-advantaged contributions to a traditional or Roth Individual Retirement Account (IRA). Even in the absence of employer contribution matching, continue investing. You may choose to deposit the same amount in a Roth IRA, forfeit immediate tax benefit, but relish tax-deferred growth and prospective tax-free withdrawals on qualifying distributions later. 5. **Manage Surplus Funds Wisely:** When a point arrives where your budget stretches comfortably, leaving you with surplus funds, careful utilization is crucial. Dedicate resources to clear outstanding debts, reward yourself, and consider investment options for any remaining cash. ## When Contributing to Student Loans and 401k Retirement Becomes a Tightrope Walk Attempting to maximize your employer's match contributions, but your lifestyle costs eat up your income? Let's dial down the anxiety! Start off by investing the bare minimum into your retirement savings to leverage your employer's match. It might necessitate some budget-tightening, but remember, each small saving step ensures significant long-term gains. If you find coping with your regular expenses a struggle, take a moment to review your outgoings. See if any areas allow for reasonable cutbacks. When you successfully clear your student loans, it's time to reevaluate. Before plunging headlong into saving for retirement, evaluate if there are other debts (such as credit cards) requiring attention. ## Leverage the Power of Student Loan Repayment Assistance with Paidly Balancing your income between student loans and retirement savings often feels like an impossible puzzle. But Student Loan Repayment Assistance offers a soothing balm for student loan anxiety. Services like Paidly empower your employer to assist with your [student loan repayments via an employee benefit](/employer). This contribution can be monthly or a lump sum payment, allowing your employer to help you decrease your student loan burden, [tax-exempt](/tax-free) up to **$5,250 a year!** Are extra payments worth it? Let's find out. [Check My Savings](/calculators/student-loan-benefit-calculator) ## Striking the Perfect Balance with Student Loans and Retirement Savings Juggling student loan repayments and retirement savings can feel like a tight-rope walk. However, equipped with the right tools, you can discover a balance that fits your personal financial landscape and helps you achieve a secure future. Keep focusing on your goals, as every step you take is a move towards a financially free future! Tell your employer to [Meet Paidly](/contact-sales) or start on your own jounery with our [Friends Helping Friends student loan donations solution](/friends-helping-friends). #### Table of Contents - #### Let's Talk Repayment Benefits Talk to one of our team of experts that will answer any questions [Talk to an Expert](/contact-sales) [](/blog/author/team-paidly) #### [Team Paidly](/blog/author/team-paidly) Paidly is the go-to platform for rising above student debt. We specialize in innovative solutions, such as employer student loan assistance benefits, streamlined 529 plan contributions, and crowdfunding tools for individuals and their families. Backed by nearly two decades of experience in financial technology, Paidly is committed to simplifying student loan repayment, reducing loan dependency, and empowering students to take control of their finances no matter where they are in their educational journey. [](https://www.linkedin.com/company/meetpaidly/ "LinkedIn")[](https://www.facebook.com/meetpaidly "Facebook")[](https://www.instagram.com/meetpaidly/ "Instagram")[](https://twitter.com/meetpaidly "Twitter")[](https://www.youtube.com/@paidly "YouTube")[](https://www.tiktok.com/@meetpaidly "TikTok") #### Stay Ahead of the Curve Get the latest insights on student loan repayment, 529 contributions, and maximizing employer benefits delivered to your inbox. Join the list By submitting your email, you agree to receive emails from Paidly and acknowledge that you can unsubscribe at any time. * * * The information provided is of a general nature and an educational resource. It is not intended to provide advice or address the situation of any particular individual or entity. Any recipient shall be responsible for the use to which it puts this document. Paidly shall have no liability for the information provided. While care has been taken to produce this document, Paidly does not warrant, represent or guarantee the completeness, accuracy, adequacy, or fitness with respect to the information contained in this document. The information provided does not reflect new circumstances, or additional regulatory and legal changes. The issues addressed may have legal, financial, and health implications, and we recommend you speak to your legal, financial, and health advisors before acting on any of the information provided. ### You may also like [Founder's Notes](/blog/category/founders-notes) 5 min read ## [The HR Guide to Using Your Entire Education Budget](/blog/the-hr-guide-to-using-your-entire-education-budget) Your education budget can do a lot more than just pay for tuition. Learn how adding student loan repayment can expand your benefits without expanding your budget. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) Aug 26, 2026 [For Individuals](/blog/category/individuals) 4 min read ## [Education Benefits You Should Know About](/blog/education-benefits-you-should-know-about) Education benefits like 529 savings, tuition reimbursement, and student loan repayment can help you reduce education costs during every stage of your career. [](/blog/author/team-paidly)[Team Paidly](/blog/author/team-paidly) Aug 07, 2026 [For Individuals](/blog/category/individuals) 5 min read ## [ABLE Accounts and 529 Plans: A Flexible Savings Strategy](/blog/what-is-an-able-account-529a) Learn how 529 plans and ABLE accounts work together to make your savings even more supportive. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Jul 22, 2026 --- # How a $100 Student Loan Debt Payment Can Supercharge Your Savings URL: https://meetpaidly.com/blog/supercharge-savings-student-loan-payment Description: See how a $100 employer student loan payment can boost your IRA savings. Start investing wisely today! [Home](/ "Home")[Blog](/blog "Blog")[For Individuals](/blog/category/individuals "For Individuals")How a $100 Student Loan Debt Payment Can Supercharge Your Savings # How a Simple Employer Benefit Can Supercharge Your IRA Savings Turn $100 Into $174K? Unveil The Employer Perk! [](/blog/author/john-scully) [John Scully, CEO](/blog/author/john-scully) Mar 22, 20243 min read [](https://www.facebook.com/sharer/sharer.php?u=https://meetpaidly.com/blog/supercharge-savings-student-loan-payment "Share to Facebook") [](https://twitter.com/intent/tweet/?text=How%20a%20Simple%20Employer%20Benefit%20Can%20Supercharge%20Your%20IRA%20Savings&url=https://meetpaidly.com/blog/supercharge-savings-student-loan-payment "Share to Twitter") [](https://www.linkedin.com/sharing/share-offsite/?url=https://meetpaidly.com/blog/supercharge-savings-student-loan-payment "Share to Linkedin") [](mailto:?Subject=How%20a%20Simple%20Employer%20Benefit%20Can%20Supercharge%20Your%20IRA%20Savings&Body=Check%20this%20out%21%0Ahttps%3A%2F%2Fhttps://meetpaidly.com/blog/supercharge-savings-student-loan-payment "Share to Email") ## Key Takeaways - Employer contributions to student loan debt can also benefit you, freeing up your cash for smarter uses. - With just $100, you have the potential to kickstart a secure future using an Individual Retirement Account (IRA). - The magic of compound interest transforms your $100 monthly contribution into approximately $174,494 over 30 years! - Using this strategy, not only do you lighten your student loan burden, but also take massive strides toward achieving financial independence. * * * When it comes to managing our finances, it's essential to find innovative solutions that help us reach our goals. Today, we're excited to share a game-changing strategy that can empower you to make the most of your money. Imagine this: with just a $100 payment towards your student loan debt from your organization, you could potentially free up $100 to invest in an Individual Retirement Account (IRA) and watch it grow at an impressive 10% interest rate over 30 years. Let's dive in and explore the financial rewards waiting to be seized. What does it cost the organization to offer student loan debt repayment as a benefit? Well, the good news is that [employer contributions towards student loan debt are generally tax-deductible](https://meetpaidly.com/tax-free#:~:text=The%20CARES%20Act%20Section%20127%20of%20the%20IRS%20code%2C%20Student%20Loan%20Repayment%20provision%20allows%20employers%20to%20contribute%20up%20to%20%245%2C250%20tax%2Dfree%20annually%20to%20their%20employees%27%20student%20loans%20and%20has%20been%20extended%20from%20the%20previous%20deadline%20of%20December%2031%2C%202020%20to%20December%2031%2C%202025.), making it a win-win for both employer and employees. While the specific costs may vary depending on the organization's arrangements, the long-term benefits far outweigh the initial investment. By helping their employees manage and pay down their student loans, organizations can support financial wellness, enhance employee satisfaction, and attract top talent. ## The Impact on Employees Let's talk about the true power of this benefit for employees. [By having their organization contribute $100 towards their student loan debt](https://meetpaidly.com/blog/benefits-of-workplace-student-loan-assistance), individuals effectively free up $100 of their own money. This means that instead of making a regular student loan payment, they can redirect that $100 towards another important financial goal: investing in an IRA. ## The Wonder of Compound Interest Now, let's explore the magic of [compound interest](https://meetpaidly.com/blog/how-does-student-loan-interest-work#:~:text=Compound%20Interest%3A%20This%20one%27s%20a%20bit%20more%20complex.%20It%27s%20calculated%20based%20not%20only%20on%20your%20original%20loan%2C%20but%20also%20on%20the%20interest%20that%20has%20already%20gathered%20over%20time.) and how it can supercharge your savings over time. Assuming the $100 redirected from student loan debt is invested in an IRA with an annual interest rate of 10%, we can expect impressive growth over 30 years. With compound interest, your investment has the potential to snowball and multiply. In fact, using a compound interest calculator, we find that over three decades, that **$100 monthly** contribution can turn into approximately **$174,494!** That's an extraordinary return on investment. ## Seizing Your Financial Independence Imagine the possibilities that come with maximizing your money through this strategy. With the burden of student loan debt lightened and a dedicated investment towards your future, you're taking action towards achieving financial freedom. By making empowered choices today, you're ensuring a brighter tomorrow. Whether it's retiring comfortably, pursuing your passions, or creating a legacy, this strategy can help you build a solid financial foundation. ## Next Steps Ready to take control of your finances and seize this opportunity for growth? Here's what you can do: 1. Speak to your organization's HR department and inquire about the possibility of student loan debt repayment as a benefit via [meetpaidly.com](https://meetpaidly.com). 2. If your employer does not currently offer this benefit, share this strategy with them and highlight the potential advantages. Utilize [meetpaidly.com](https://meetpaidly.com) [resources to help with the conversation](https://meetpaidly.com/blog/4-steps-on-how-to-ask-your-employer-to-repay-student-loans). 3. Once you have a plan in place, reach out to a financial advisor to discuss the best IRA options for your individual needs. With a **simple $100 payment from your organization** towards your student loan debt, you can unlock a world of financial possibilities. By redirecting that $100 towards an IRA that earns 10% interest over 30 years, the potential returns are astounding. Take the first step towards financial freedom today and explore the benefits of this innovative strategy. Your future self will thank you for it. #### Table of Contents - #### Let's Talk Repayment Benefits Talk to one of our team of experts that will answer any questions [Talk to an Expert](/contact-sales) [](/blog/author/john-scully) #### [John Scully, CEO](/blog/author/john-scully) John Scully is a seasoned executive leader with a strong background in business operations and technology. As Co-Founder of Paidly Student Loan Benefits, he empowers employers to enhance talent recruitment and retention through a cloud-based platform that allows tax-free student loan payments. With experience in industries like healthcare and fintech, John has held leadership positions at companies such as Sharp Notions and the University of Rochester Medical Center. Holding an MBA from the University of Rochester and a B.S. from Excelsior College, John is dedicated to helping organizations and individuals navigate the complexities of Fintech, especially student loan payments. [](https://www.linkedin.com/in/johnscully282/ "LinkedIn") #### Stay Ahead of the Curve Get the latest insights on student loan repayment, 529 contributions, and maximizing employer benefits delivered to your inbox. Join the list By submitting your email, you agree to receive emails from Paidly and acknowledge that you can unsubscribe at any time. * * * The information provided is of a general nature and an educational resource. It is not intended to provide advice or address the situation of any particular individual or entity. Any recipient shall be responsible for the use to which it puts this document. Paidly shall have no liability for the information provided. While care has been taken to produce this document, Paidly does not warrant, represent or guarantee the completeness, accuracy, adequacy, or fitness with respect to the information contained in this document. The information provided does not reflect new circumstances, or additional regulatory and legal changes. The issues addressed may have legal, financial, and health implications, and we recommend you speak to your legal, financial, and health advisors before acting on any of the information provided. ### You may also like [Founder's Notes](/blog/category/founders-notes) 5 min read ## [The HR Guide to Using Your Entire Education Budget](/blog/the-hr-guide-to-using-your-entire-education-budget) Your education budget can do a lot more than just pay for tuition. Learn how adding student loan repayment can expand your benefits without expanding your budget. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) Aug 26, 2026 [For Individuals](/blog/category/individuals) 4 min read ## [Education Benefits You Should Know About](/blog/education-benefits-you-should-know-about) Education benefits like 529 savings, tuition reimbursement, and student loan repayment can help you reduce education costs during every stage of your career. [](/blog/author/team-paidly)[Team Paidly](/blog/author/team-paidly) Aug 07, 2026 [For Individuals](/blog/category/individuals) 5 min read ## [ABLE Accounts and 529 Plans: A Flexible Savings Strategy](/blog/what-is-an-able-account-529a) Learn how 529 plans and ABLE accounts work together to make your savings even more supportive. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Jul 22, 2026 --- # Teachers Guide to Student Loan Repayment URL: https://meetpaidly.com/blog/teacher-student-loans-repayment Description: Explore student loan repayment strategies for teachers! Discover program details, eligibility, and application steps in our guide. [Home](/ "Home")[Blog](/blog "Blog")[For Individuals](/blog/category/individuals "For Individuals")Teachers Guide to Student Loan Repayment # Teachers' Guide to Student Loan Repayment Seeking solutions to tackle your student loans? Did you know there are teacher-focused strategies that could change the game? [](/blog/author/team-paidly) [Team Paidly](/blog/author/team-paidly) Aug 24, 202310 min read [](https://www.facebook.com/sharer/sharer.php?u=https://meetpaidly.com/blog/teacher-student-loans-repayment "Share to Facebook") [](https://twitter.com/intent/tweet/?text=Teachers'%20Guide%20to%20Student%20Loan%20Repayment&url=https://meetpaidly.com/blog/teacher-student-loans-repayment "Share to Twitter") [](https://www.linkedin.com/sharing/share-offsite/?url=https://meetpaidly.com/blog/teacher-student-loans-repayment "Share to Linkedin") [](mailto:?Subject=Teachers'%20Guide%20to%20Student%20Loan%20Repayment&Body=Check%20this%20out%21%0Ahttps%3A%2F%2Fhttps://meetpaidly.com/blog/teacher-student-loans-repayment "Share to Email") ## Key Takeaways - Amazing loan forgiveness choices like **[TLF](https://studentaid.gov/manage-loans/forgiveness-cancellation/teacher)**, **[PSLF](https://meetpaidly.com/blog/navigating-public-student-loan-forgiveness)**, and state programs can fast-track your path to clearing student loans. - Deep diving into program details and eligibility can unveil the best alternative for you. - Positive action in managing student debt, combined with useful resources, gives you power over your financial future. - Exploring more options like **[employer-backed loan repayment programs](/employer)** to lessen your student loan stress. * * * As teachers, your profound daily impact on shaping the minds of the next generation does not go unnoticed. However, we acknowledge that the challenging task of balancing teaching responsibilities and financial commitments like student loans is a shared reality for many. **Teachers who have a master’s degree have over $50,000 in student loan debt on average**. But here's the silver lining, strategic repayment options exist, specifically tailor-made for educators. These options can expedite your journey towards financial liberation, leading you on a path towards a debt-free future. In this comprehensive guide, we delve into revealing the inner workings of these programs, offering key navigational tips to assist you in pinpointing the options that are most beneficial and align with your individual circumstance ## Exploring the Teacher Loan Forgiveness (TLF) [Teacher Loan Forgiveness (TLF)](https://studentaid.gov/manage-loans/forgiveness-cancellation/teacher) is a federal student loan forgiveness program explicitly catered to educators working in low-income schools or educational service agencies. Key eligibility criteria for TLF include maintaining full-time employment as a teacher for **at least five successive years**, and the requirement for your **school or agency to serve low-income students**. Under the auspices of TLF, eligible teachers may receive a forgiveness amount of up to $17,500 on their Direct Loan or FFEL Program loans. This forgiveness notably extends to direct subsidized and unsubsidized loans, along with subsidized and unsubsidized federal Stafford loans. TLF is particularly designed to alleviate the financial burden of qualified teachers by acknowledging their tireless dedication to nurturing communities where resources may be scarce or limited. ## Unearthing the Perkins Loan Cancellation for Teachers When seeking relief from the burden of student loan debt, exploring all available avenues can make a significant difference. One such avenue is the Perkins Loan Cancellation program, uniquely designed to support teachers and can forgive up to 100% of your Federal Perkins Loan Program. This program opens the doors of opportunity to a select group of educators, those employed at low-income schools or teaching high-demand subjects like math, science, or special education. If this description fits your situation, you're onto a promising lifeline. ## Key Eligibility Criteria To check your eligibility, visit your [StudentAid dashboard](https://studentaid.gov/tcli/) to ascertain if you hold any Perkins Loans. If you meet the criteria of this program, you can look forward to seeing up to **100% of your loan forgiven** as a gratitude for your teaching service. This occurs in empowering stages: - A beneficial **15%** could be forgiven for each of the first and second years of your indispensable service. - A substantial **20%** could be removed for both the third and fourth years. - A final rewarding **30%** could be dismissed during the fifth year. - Each yearly cancellation also lifts the weight of any interest accrued during that year. As part of your journey in leveraging this program, check if your school is listed as a low-income institution in the [StudentAid.gov simple-to-navigate online database](https://studentaid.gov/tcli/). This should reflect the year(s) of your dedicated teaching service. A source of added hope is that even if you don’t serve at a low-income school, you may still qualify if you teach mathematics, science, foreign languages, bilingual, special education, or a subject area recognized as facing a shortage of qualified teachers in your state. Learn more about [Perkins Loan cancellation](https://studentaid.gov/manage-loans/forgiveness-cancellation/perkins#perkins-loan-teacher-cancellation). ## Perkins Loan Cancellation: The Benefits So, what do you stand to gain via this program? The [Perkins Loan Cancellation program](https://studentaid.gov/manage-loans/forgiveness-cancellation/perkins#perkins-loan-teacher-cancellation) may cancel a significant portion, or in certain cases, the entirety of a Federal Perkins Loan, contingent on the length of your teaching service. ### Understanding Partial-Year Teaching for Loan Forgiveness If you've been in a situation where you couldn't complete a full academic year of teaching, no worries. That year can still contribute to the five full, consecutive academic years required if: - You managed to complete at least half the academic year. - Your employer acknowledges you've met your academic-year contract for salary raises, tenure, and retirement. - You couldn't complete the academic year due to specific approved reasons. ### Approved Reasons for Partial Academic Year The following understood reasons for not finishing the academic year could still allow it to count towards the required five consecutive years: - You resumed postsecondary education at least half-time, in a study area directly linked to your set teaching service. - You faced a circumstance covered under the Family and Medical Leave Act of 1993 (FMLA). - You were called for active-duty service for more than 30 days as part of a reserve unit of the US armed forces. ## State-Sponsored Student Loan Forgiveness Programs While various federal initiatives can serve as a financial lifeline to teachers striving to manage their student loans, it's essential to explore the significant potential state-sponsored student loan forgiveness programs offer. These initiatives are custom-built for teachers like you, who selflessly opt to uplift their communities through public service. Different states have unique requirements for eligibility, but most state programs require that you are involved in public service in the state where you are employed. As an illustration, if you're an elementary school teacher in New Jersey's Montclair Public Schools district and are residing in New Jersey, this option would suit you perfectly. Let's delve into some examples of state-sponsored student loan forgiveness programs to aid you in comprehending your available options in-depth. ## State-Sponsored Initiatives: A Sampling from Across the Nation - **California**: [The California State Loan Repayment Program (SLRP)](https://www.grants.ca.gov/grants/california-state-loan-repayment-program-slrp/) aids public education professionals, including teachers, in managing their student debt. The program has explicit requirements such as a mandatory commitment to work in qualifying institutions for a specified duration. - **Florida**: [Florida's Teacher Loan Forgiveness Program (FTLF)](https://www.fldoe.org/schools/school-choice/private-schools/loan-forgiveness-program.stml) stands as a solid foundation for educators in high-demand subject areas and schools with high proportions of low-income students. Teachers meeting the qualifications might receive loan forgiveness for up to four years. - **Illinois**: [Illinois has designed the Teacher Loan Repayment Program (TLRP)](https://www.isac.org/students/after-college/forgiveness-programs/illinois-teachers-and-child-care-providers-loan-repayment-program.html#Eligibility) to provide loan assistance to teachers serving low-income school districts and those teaching in high-demand subject areas. Applications that tick all eligibility requirements stand to benefit from up to $5,000 to eliminate their debt. - **New York**: [The New York State Teacher Loan Forgiveness Program](https://www.hesc.ny.gov/repay-your-loans/repayment-options-assistance/loan-forgiveness-cancellation-and-discharge/nys-teacher-loan-forgiveness-program.html) focuses on lending a hand to those teachers who have committed to serving in New York City for at least four years. The forgiveness grants vary based on each individual's unique requirements. - **Texas**: Texas bound teachers have a helpful ally in the [Texas Educator Loan Forgiveness Program](https://tea.texas.gov/texas-educators/educator-initiatives-and-performance/student-loan-forgiveness-for-teachers). This initiative lends support typically ranging between $2,500 and $5,000 per academic year, offering assistance in paying off student loans. We encourage you to probe into the specific student loan forgiveness programs in your state to ensure they correspond perfectly with your unique financial requirements and circumstances. ## Charting Your Course: The Path to State-Sponsored Loan Forgiveness - **Research your state's program**: Delve into the eligibility conditions, benefits, and application process for your state's student loan forgiveness program. Stay alert to deadlines and crucial documentation. - **Connect with local resources**: Engage with your school, district, or state education office to navigate the application process efficiently, with their guidance and assistance. - **Stay informed**: Remain proactive in your journey towards financial stability by keeping pace with all the latest news, updates, and policies related to student loan forgiveness programs. State-sponsored student loan forgiveness programs can indeed be a valuable crutch for dedicated teachers. Gaining insight into your choices and maintaining a proactive stance can lay the groundwork towards a brighter, debt-free future. ## Exploring Federal Program: Public Service Loan Forgiveness (PSLF) [Public Service Loan Forgiveness (PLSF)](https://meetpaidly.com/blog/navigating-public-student-loan-forgiveness) also enables teachers and other public servants to have their student loans dismissed after adhering to ten years’ worth of payments. Remember, while its benefits are significant, it's crucial to be well-versed with its stringent guidelines to make informed decisions about your repayment strategy. This program has unfortunately fallen below expectations, with a surprising **98 percent** of hopeful applicants **facing a rejection** hurdle. As a result, the ambitious dreams of many educators, who had trusted in the promise of the PSLF, remain unachieved. ## Unlocking an Innovative Benefits Solution: An Employer Student Loan Repayment Benefit for Teachers In our consistent mission to arm teachers with the most empowering and advantageous solutions, we're elated to welcome Paidly to our pool of offerings— an innovative tool to assist educators in managing their student loan debts. Paidly facilitates employers to pay off their employees' loans through a [Student Loan Repayment Benefit, enabling them to make tax-free supplemental payments](/blog/how-to-start-a-student-loan-repayment-benefit) of up to **$5,250 per year towards their employee's student loans**. Here's how this solution could be your perfect match: ### Advantages of Paidly for Teachers - **Employer Collaboration**: Paidly paves the path for your employer to join you on your student loan repayment journey, lending support and drastically speeding up the process to clear your loans. - **Tax-Free Assistance**: Additional payments made by your employer via Paidly are tax-free, allowing you to economize and channel more funds towards your other financial objectives. - **Easing the Burden**: As the process of student loan repayment becomes streamlined, your focus can be solely centered around your professional life and personal growth. You'll take comfort in knowing that your debt is being actively tackled. ### How Does Paidly Work? - **Employer Enrollment**: Your employer signs up for the Paidly program, thereby showcasing their commitment towards aiding their teaching crew in debt reduction. - **Employee Participation**: Eligible teachers enroll in the program, joining hands with their employer to expedite their student loan repayment procedure. - **Priceless Contributions**: Your employer contributes a fixed amount—up to the tax-free limit— towards your student loans each month, significantly accelerating your debt repayment progress. ## Harnessing Paidly's Potential ### Begin the Conversation [Start by discussing the potential of incorporating Paidly into your benefits package](/blog/4-steps-on-how-to-ask-your-employer-to-repay-student-loans) with your employer. Highlight the benefits of this trailblazing program and stress on the potential positive impact it could have on your efficiency and well-being as a teacher. ### Dive into details Learn about the [financial freedom an employer student loan repayment benefit can provide](/blog/benefits-of-workplace-student-loan-assistance). Understanding the [savings supplemental payments can have](/calculators/student-loan-benefit-calculator) on the overall cost of your loan and it being a [tax-exempt benefit for you and your employer up to $5,250 a year](/tax-free). ### Stay Informed and Empowered [Keep your eyes on the ever-changing terrain of news and resources related to student loan debt](/blog) alleviation strategies. Staying in the loop ensures the best financial decisions at the right time. At Paidly we are pioneering a result-focused repayment approach aligns perfectly with our brand's mission—to empower our audience with invaluable knowledge and possibilities. By integrating Paidly into your student loan repayment strategy, you not only increase the chances of attaining a debt-free life sooner, but you also cultivate a collaborative bond with your employer, further firming your financial base. #### Table of Contents - #### Let's Talk Repayment Benefits Talk to one of our team of experts that will answer any questions [Talk to an Expert](/contact-sales) [](/blog/author/team-paidly) #### [Team Paidly](/blog/author/team-paidly) Paidly is the go-to platform for rising above student debt. We specialize in innovative solutions, such as employer student loan assistance benefits, streamlined 529 plan contributions, and crowdfunding tools for individuals and their families. Backed by nearly two decades of experience in financial technology, Paidly is committed to simplifying student loan repayment, reducing loan dependency, and empowering students to take control of their finances no matter where they are in their educational journey. [](https://www.linkedin.com/company/meetpaidly/ "LinkedIn")[](https://www.facebook.com/meetpaidly "Facebook")[](https://www.instagram.com/meetpaidly/ "Instagram")[](https://twitter.com/meetpaidly "Twitter")[](https://www.youtube.com/@paidly "YouTube")[](https://www.tiktok.com/@meetpaidly "TikTok") #### Stay Ahead of the Curve Get the latest insights on student loan repayment, 529 contributions, and maximizing employer benefits delivered to your inbox. Join the list By submitting your email, you agree to receive emails from Paidly and acknowledge that you can unsubscribe at any time. * * * The information provided is of a general nature and an educational resource. It is not intended to provide advice or address the situation of any particular individual or entity. Any recipient shall be responsible for the use to which it puts this document. Paidly shall have no liability for the information provided. While care has been taken to produce this document, Paidly does not warrant, represent or guarantee the completeness, accuracy, adequacy, or fitness with respect to the information contained in this document. The information provided does not reflect new circumstances, or additional regulatory and legal changes. The issues addressed may have legal, financial, and health implications, and we recommend you speak to your legal, financial, and health advisors before acting on any of the information provided. ### You may also like [Founder's Notes](/blog/category/founders-notes) 5 min read ## [The HR Guide to Using Your Entire Education Budget](/blog/the-hr-guide-to-using-your-entire-education-budget) Your education budget can do a lot more than just pay for tuition. Learn how adding student loan repayment can expand your benefits without expanding your budget. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) Aug 26, 2026 [For Individuals](/blog/category/individuals) 4 min read ## [Education Benefits You Should Know About](/blog/education-benefits-you-should-know-about) Education benefits like 529 savings, tuition reimbursement, and student loan repayment can help you reduce education costs during every stage of your career. [](/blog/author/team-paidly)[Team Paidly](/blog/author/team-paidly) Aug 07, 2026 [For Individuals](/blog/category/individuals) 5 min read ## [ABLE Accounts and 529 Plans: A Flexible Savings Strategy](/blog/what-is-an-able-account-529a) Learn how 529 plans and ABLE accounts work together to make your savings even more supportive. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Jul 22, 2026 --- # Guide on Employer Student Loan Repayment Perk to attract new hires URL: https://meetpaidly.com/blog/the-definitive-guide-to-employer-student-loan-repayment-benefits Description: Lean how employers and new hires can both benefit from student loan repayment option as tax-free write-off through 2025 [Home](/ "Home")[Blog](/blog "Blog")[For Employers](/blog/category/employers "For Employers")Guide on Employer Student Loan Repayment Perk to attract new hires # The Definitive Guide to Employer Student Loan Repayment Benefits Learn the ins-and-outs of how both employers and new hires can take advantage of a novel student loan repayment benefit as a tax-free write-off through 2025. [](/blog/author/team-paidly) [Team Paidly](/blog/author/team-paidly) Updated: Aug 30, 202311 min read [](https://www.facebook.com/sharer/sharer.php?u=https://meetpaidly.com/blog/the-definitive-guide-to-employer-student-loan-repayment-benefits "Share to Facebook") [](https://twitter.com/intent/tweet/?text=The%20Definitive%20Guide%20to%20Employer%20Student%20Loan%20Repayment%20Benefits%20&url=https://meetpaidly.com/blog/the-definitive-guide-to-employer-student-loan-repayment-benefits "Share to Twitter") [](https://www.linkedin.com/sharing/share-offsite/?url=https://meetpaidly.com/blog/the-definitive-guide-to-employer-student-loan-repayment-benefits "Share to Linkedin") [](mailto:?Subject=The%20Definitive%20Guide%20to%20Employer%20Student%20Loan%20Repayment%20Benefits%20&Body=Check%20this%20out%21%0Ahttps%3A%2F%2Fhttps://meetpaidly.com/blog/the-definitive-guide-to-employer-student-loan-repayment-benefits "Share to Email") * * * It seems that college graduates in 2022 will be facing a “good news, bad news” conundrum. ## Bad news: student debt hits an all-time high First the bad news. It looks like the amount of outstanding student loans in the United States has increased every quarter since the first three months of 2006 through the first three months of this year. According to Statista.com, the total amount of educational debt that American students owed in March 2022 was more than $1.76 trillion – reaching an all-time high in the U.S. – compared to $480.9 billion in the same time period back in 2006. That’s an increase of more than 366% nationwide in 16 years, and it breaks down to about $28,950 owed per borrower on average, according to Forbes. ## Good news: more college grads will be hired this year than 2021 Now for the good news. It seems that job prospects for new graduates this year are better than they’ve been in recent years. The National Association of Colleges and Employers’ (NACE) [Job Outlook 2022 Spring Update](https://www.naceweb.org/job-market/trends-and-predictions/college-hiring-surges-with-31-point-6-percent-increase/) found that surveyed employers say they plan to hire 31.6% more new college graduates this year than in 2021. The NACE research further found that a key driver of this increased hiring trend was demand across all industries represented in the latest survey due to the current labor shortage. This across-the-board need for newly minted graduates was further bolstered by a specific NACE finding that 1-in-6 survey participants said they plan to increase their number of new hires this year by 100% or more compared to last year. Additionally, 56% of respondents to the NACE’s latest survey stated that they plan to increase their college hire numbers, while another 41% will maintain their hiring levels from last year. Only about 3% of those surveyed plan on decreasing their number of college hires in 2022. It seems that this year’s graduating class has a lot to look forward to! ## 2022 college grads can be picky It’s no secret that there’s a labor shortage, and because of the high demand for qualified talent – many candidates are turning the interviewing process on its head, as the candidates are actually interviewing prospective employers since many new grads are getting multiple job offers at a breathtaking pace. Because of this increase in employer demand for capable personnel, job seekers are bringing a laundry list of benefits and perks they’re looking for before they sign on the dotted line with any employer. In a recent [article posted](https://www.shrm.org/hr-today/news/hr-news/pages/keys-to-hiring-new-college-grads-providing-connections-support-advancement.aspx) on the website for the Society of Human Resource Management (SHRM), many new graduates have new-found leverage in the hiring dynamic, and they are calling the shots in many respects. ## Top benefits 2022 college graduates want According to SHRM, new graduates expect to receive traditional benefits such as paid time off, 401(k) employer match, as well as health and dental insurance. They also expressed a strong desire for remote-work options at their discretion as well as flexible scheduling accommodations. From its research SHRM stated that those were the top benefits that new college grads specifically called out. But they also expressed a keen interest to receive in-office perks such as workout facilities, access to activities such as pool tables and ping pong, catered lunches, free beverages, and coffee bars. Additionally, while not usually categorized as a benefit, about 40% of college seniors expect to be promoted within the first 12 months of being hired. For many employers it’s not feasible to move new hires through an accelerated promotion pipeline based on the size of the organization, structure of the team that the candidate joins, macroeconomic realities, nature of the job - just to name a few potentially limiting variables. However, SHRM suggests that hiring managers can instead focus on the company’s mentorship programs, learning opportunities, or training initiatives as a way to highlight the organization’s commitment to employee development. It’s worth noting that recent college seniors also wanted the ability to connect with other employees both socially and within the workplace, which is understandable as most grads spent at least a third of their college career in some type of isolation resulting from the COVID-19 lockdown that began in the first quarter of 2020. Interestingly, despite having an average of more than $28,000 in student loans, it seems the idea of an [Employer Student Loan Repayment (ESLR) benefit](/employer) is not even on the job-hunting radar of prospective employees. That means innovative employers and businesses willing to embrace such a program could be at a distinct hiring advantage when competing for new talent, or seeking to retain current talent, by offering them a novel perk that they need, but don’t necessarily know is available. ## Definitive guide to Employer Student Loan Repayment In a separate [write-up](https://www.shrm.org/resourcesandtools/hr-topics/benefits/pages/why-more-employers-are-leveraging-tuition-assistance-to-attract-and-retain-employees.aspx) on its website, SHRM stated that employer-provided education assistance plays an important role in workforce development and "has long championed policies that allow employers to offer education assistance programs relevant to the modern workforce," said James Redstone, director of public policy at SHRM. However, employer-provided educational assistance is much more than paying for part-time college credit hours or reimbursing workers for the cost of textbooks. One of the best educational assistance options available to businesses – which is woefully underutilized, since only [8% of employers](https://shrm-res.cloudinary.com/image/upload/v1629481767/2020%20Employee%20Benefits/Benefits_Report_-_Overall.pdf) reportedly offer this benefit – is the Employer Student Loan Repayment (ESLR) perk. An ESLR benefit directly meets the need and helps alleviate a lot of the pressure new graduates face as they enter the job field. The specific perquisite is where employers provide nontaxable funds to pay down student loan debt for their workers. The additional contribution from the employer not only lowers the worker’s total amount of debt owed, it also reduces the total amount of interest expense for the life of the loan, and reduces the duration of loan through the accelerated payment schedule. For all these reasons, it stands to reason why an ESLR benefit is an attractive option to offer to high-potential employee prospects by making recruitment and retention easier, while also boosting employee engagement and productivity once hired. ## Why employers should address student loan debt Not only is an ESLR benefit a differentiator among competing businesses within a tight labor market, it is also a powerful signal to current and prospective employees that their managers care about their financial challenges, future wellbeing, and overall mental health. These data from [Harvard Business Review](https://hbr.org/2021/03/companies-can-and-should-help-employees-pay-student-loans) provide a compelling picture as to why employers should consider providing an ESLR benefit. - 80% of surveyed employers reported that an employee’s personal financial issues affect job performance. - 54% of millennials are concerned about their ability to repay student loan debt. - 80% of college-educated millennials carry more than one source of student debt. - 86% of young workers surveyed by American Student Assistance said they would commit to five years with an employer that helped them pay off student loans. Those are compelling facts that any employer should consider as they examine their portfolio of employee benefits. #### Create an informed employee retention strategy See what your return on investment could look like when offering a Student Loan Repayment Benefit [See your return](/calculators/employer-student-loan-repayment-roi-calculator) ## Explanation of how ESLR benefits came to be During the COVID-19 pandemic, the government enacted the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act, which had a temporary provision allowing student loan repayment as an alternative to typical paid educational assistance for current matriculated employees. Basically, the CARES Act enabled employers to help pay down student loans of employees for past educational expenses on a tax-free basis up to $5,250 each calendar year, if provided through a qualified educational assistance program, as outlined under Section 127 of the law. This breakthrough revision provides a significant tax advantage to the workforce cohort that is still repaying eligible student loans, as well as a meaningful tax incentive to the employer that doubles as a dual-edged recruitment and retention tool. The CARES Act added a greater degree of flexibility to educational assistance benefits in general, by including a wider cross-section of the workforce with the addition of student loan repayments, made before Jan. 1, 2021, as tax-free “educational assistance” to employees if the student debt fits within the guidelines specified in [Section 127](/blog/understanding-section-127-plan) of the law. This novel piece of legislation was signed into law in March 2020, and it also provides payment flexibility for the employer to directly pay the lender or employee, and that payment can comprise either loan interest, principle, or both. The temporary nature of the CARES Act was extended through the end of 2025 under the Taxpayer Certainty and Disaster Tax Relief Act of 2020, which became law on December 27, 2020. This extension of the CARES Act is another reason why employers need to act now and take advantage of this tax-saving tool and meaningful employee benefit. ## Necessary requirements for a compliant ESLR benefit Benefit administrators quoted in media articles widely agree that adding a [student loan repayment benefit](/blog/why-employers-should-offer-student-loan-repayment) to an employer’s existing qualified educational assistance program is a relatively straightforward process. However, it can be daunting for businesses that don’t currently have a qualified educational assistance program already set up. That type of program must be established first before any type of employer student loan repayment (ESLR) benefit can take effect. For an ESLR benefit that complies with Section 127 of the law, enabling both employees and employers to take advantage of the tax-free advantages, there are several [specific stipulations](https://assets.kpmg/content/dam/kpmg/us/pdf/2021/02/tnf-wnit-student-loan-feb1-2021.pdf) that must be addressed, that include: - **Documented Plan**. A qualified educational assistance program must be established under a separate written plan by the employer, but it does not need to be complex or exhaustive. - **Employees Only**. Qualified educational assistance programs can only benefit actual employees. Under Section 127, the term “employees” includes: retired, disabled, or laid-off employees; present employees on leave; and self-employed individuals. But it does not extend to dependents or spouses of employees. - **Proof of Use.** Employees who receive benefits under an educational assistance program usually must provide substantiation or “proof” that the employer’s payments or reimbursements are in fact being used for educational assistance. - **Nondiscriminatory**. An ESLR benefit must not discriminate in favor of officers, shareholders, self-employed individuals, or highly compensated employees. It must be available to all eligible employees. However, eligibility for benefits under the program can be limited to a certain classification of workers such as full-time versus student interns. But any limitation cannot disproportionately favor management and “higher ups.” - **Educational Assistance Only**. Qualified educational assistance programs can only provide benefits that meet the definition of “educational assistance.” That means certain expenses are specifically excluded from this definition such as meals, travel, recreational activities, lodging, or supplies other than textbooks. - **ESLR Benefits are Non-Fungible.** This basically means that employees cannot be provided an opportunity to swap between the educational assistance and another benefit that would be included in their income. For instance, an employer cannot offer educational assistance through a Section 125 cafeteria plan or allow employees to elect educational assistance instead of a taxable bonus. - **ESLR Benefit Limitations.** To classify as a qualified educational assistance program under Section 127, there are certain limitations around providing benefits to owners or shareholders of more than 5% of the company. - **Reasonable Notice.** Under Section 127 all eligible employees are given reasonable notice of the terms and availability of the program – and that includes any future changes or amendments, which must be communicated broadly and in a timely manner as well. Be sure to read our post on [How to start a student loan repayment benefit](/blog/how-to-start-a-student-loan-repayment-benefit) to get a great understanding how implement this benefit in your organization today. ## Tax requirements for an ESLR benefit It’s worth noting that under a qualified Section 127 ESLR plan, employers do not need to apply or qualify with the IRS to provide the benefit - which is a nice surprise for most employers to hear! However, employers need to stay under the annualized benefit cap of $5,250 per employee otherwise the overage is deemed as taxable income under the IRS tax code. From a payroll perspective, the non-taxable aspect of the ESLR benefit means that those funds do not incur Social Security or Medicare matching amounts by the employer, and are not subject to payroll withholding. They do need to be tracked however to ensure appropriate deductibility as a business expense for the employer, compliance with generally accepted accounting practices, and assurance that the peak benefit cap isn’t exceeded. ## Next Steps If you’re interested in finding out more about ESLR benefits or actually rolling out this benefit to your employees, the experts at [MeetPaidly.com](https://meetPaidly.com) can help! Just click this [LINK](https://app.meetpaidly.com/get-started) and answer a few brief questions about your business and employee benefits, and one of Paidly’s experienced benefit consultants will reach out to help develop the perfect ESLR plan for you and your employees. Don’t delay, the sooner you reach out the sooner your employees will become more engaged, more productive, and less stressed! #### Table of Contents - #### Let's Talk Repayment Benefits Talk to one of our team of experts that will answer any questions [Talk to an Expert](/contact-sales) [](/blog/author/team-paidly) #### [Team Paidly](/blog/author/team-paidly) Paidly is the go-to platform for rising above student debt. We specialize in innovative solutions, such as employer student loan assistance benefits, streamlined 529 plan contributions, and crowdfunding tools for individuals and their families. Backed by nearly two decades of experience in financial technology, Paidly is committed to simplifying student loan repayment, reducing loan dependency, and empowering students to take control of their finances no matter where they are in their educational journey. [](https://www.linkedin.com/company/meetpaidly/ "LinkedIn")[](https://www.facebook.com/meetpaidly "Facebook")[](https://www.instagram.com/meetpaidly/ "Instagram")[](https://twitter.com/meetpaidly "Twitter")[](https://www.youtube.com/@paidly "YouTube")[](https://www.tiktok.com/@meetpaidly "TikTok") #### Stay Ahead of the Curve Get the latest insights on student loan repayment, 529 contributions, and maximizing employer benefits delivered to your inbox. Join the list By submitting your email, you agree to receive emails from Paidly and acknowledge that you can unsubscribe at any time. * * * The information provided is of a general nature and an educational resource. It is not intended to provide advice or address the situation of any particular individual or entity. Any recipient shall be responsible for the use to which it puts this document. Paidly shall have no liability for the information provided. While care has been taken to produce this document, Paidly does not warrant, represent or guarantee the completeness, accuracy, adequacy, or fitness with respect to the information contained in this document. The information provided does not reflect new circumstances, or additional regulatory and legal changes. The issues addressed may have legal, financial, and health implications, and we recommend you speak to your legal, financial, and health advisors before acting on any of the information provided. ### You may also like [Founder's Notes](/blog/category/founders-notes) 5 min read ## [The HR Guide to Using Your Entire Education Budget](/blog/the-hr-guide-to-using-your-entire-education-budget) Your education budget can do a lot more than just pay for tuition. Learn how adding student loan repayment can expand your benefits without expanding your budget. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) Aug 26, 2026 [For Individuals](/blog/category/individuals) 4 min read ## [Education Benefits You Should Know About](/blog/education-benefits-you-should-know-about) Education benefits like 529 savings, tuition reimbursement, and student loan repayment can help you reduce education costs during every stage of your career. [](/blog/author/team-paidly)[Team Paidly](/blog/author/team-paidly) Aug 07, 2026 [For Individuals](/blog/category/individuals) 5 min read ## [ABLE Accounts and 529 Plans: A Flexible Savings Strategy](/blog/what-is-an-able-account-529a) Learn how 529 plans and ABLE accounts work together to make your savings even more supportive. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Jul 22, 2026 --- # Section 127 Plans: Aiding Student Loan Repayment Benefits URL: https://meetpaidly.com/blog/understanding-section-127-plan Description: Section 127 of the Internal Revenue Code presents significant financial benefits for employers and employees [Home](/ "Home")[Blog](/blog "Blog")[For Employers](/blog/category/employers "For Employers")Section 127 Plans: Aiding Student Loan Repayment Benefits # Understanding Section 127 Plans: Your Guide to Making Smart Tax Choices Because every penny counts when you're paying back student loans. [](/blog/author/team-paidly) [Team Paidly](/blog/author/team-paidly) Updated: Aug 16, 20244 min read [](https://www.facebook.com/sharer/sharer.php?u=https://meetpaidly.com/blog/understanding-section-127-plan "Share to Facebook") [](https://twitter.com/intent/tweet/?text=Understanding%20Section%20127%20Plans%3A%20Your%20Guide%20to%20Making%20Smart%20Tax%20Choices&url=https://meetpaidly.com/blog/understanding-section-127-plan "Share to Twitter") [](https://www.linkedin.com/sharing/share-offsite/?url=https://meetpaidly.com/blog/understanding-section-127-plan "Share to Linkedin") [](mailto:?Subject=Understanding%20Section%20127%20Plans%3A%20Your%20Guide%20to%20Making%20Smart%20Tax%20Choices&Body=Check%20this%20out%21%0Ahttps%3A%2F%2Fhttps://meetpaidly.com/blog/understanding-section-127-plan "Share to Email") ## Key Takeaways - **Section 127** of the tax code provides opportunities for both employers and employees. - How to create a Section 127 plan and its requirements. - Higher earners, known as "**Highly Compensated Employees**," may face restrictions within Section 127 plans, but solutions exist. - **Paidly** helps **employers seamlessly incorporate** Section 127 benefits into payroll operations * * * ## What is the Section 127 Plan? A Section 127 Plan is an official document outlining a company's [Educational Assistance Program (EAP)](/blog/benefits-of-workplace-student-loan-assistance). It allows employers to provide up to **$5,250 per year in tax-free benefits** to support employees' educational expenses or student loan repayments. ## How to create a section 127 plan Creating a Section 127 plan allows employers to offer valuable educational benefits to their employees. Follow these steps to establish a compliant and effective plan: 1. **Select Educational Benefits**: Choose the educational assistance you want to provide, such as tuition reimbursement for degree programs, professional development courses, or student loan repayment assistance. 2. **Allocate Funds**: Determine the amount of money your organization will allocate to the Section 127 plan. Remember, you can provide up to $5,250 per employee annually in tax-free educational assistance. 3. **Establish Eligibility Requirements**: Define clear eligibility criteria for employees to participate in the plan. Consider factors such as employment status, length of service, and performance metrics. 4. **Ensure Compliance**: Review the legal requirements for Section 127 plans, including non-discrimination rules and reporting obligations. Consult with legal and tax professionals to ensure your plan complies with all applicable regulations. 5. **Prepare Written Documentation**: Draft a formal written plan document that outlines the details of your Section 127 plan, including eligibility requirements, covered expenses, and procedures for requesting and receiving benefits. Need help creating a Section 127 plan? Paidly's experts can guide you through the process and help you implement a compliant, effective educational assistance program. [Talk to an Expert](/contact-sales) today to learn more. ### Sample of a Section 127 Plan: ## Tax Benefits of a Section 127 plan and Eligibility Under Section 127, employer contributions towards an employee's student loans or educational expenses are [tax-free up to $5,250](/tax-free) per year. To maintain eligibility, the plan must: - Be documented in writing. - Not show preferential treatment to highly compensated employees. - Exclude employees with more than 5% ownership in the company. - Properly inform all eligible employees about the plan's availability. ## The Rules around Section 127 Plans This provision allows employers to help their employees without facing tax liabilities. To reiterate, the plan should be in writing, provide reasonable notification of availability and its terms to eligible employees, and not provide more than 5% of its payments to shareholders, owners, or their dependents. To comply with the IRS, verify that your Section 127 plan lets an appropriate segment of the workforce reap the rewards. ## Highly Compensated Employees and Eligible Employees? In IRS terms, a "[Highly Compensated Employees (HCEs)](https://www.irs.gov/retirement-plans/plan-participant-employee/definitions#:~:text=Highly%20Compensated%20Employee,ranked%20by%20compensation.)" are individuals who either: - Owned more than 5% of the business in the current or previous year. - Earned a substantial amount from the business in the previous year (e.g., over $150,000 in 2023). - If the employer decides, the person could also be in the **top fifth (or 20%) of all employees** ranked by how much they're paid. The program should not disproportionately benefit HCEs. Eligible employees include current employees, retirees, and those who lost their jobs or cannot work due to disabilities. ## What is the IRS Section 127 Limit? Section 127 of the Internal Revenue Code limit is only a tax-free limit of $5,250 annually. Employers can contribute more to their employees, but will be required to pay taxes beyond the tax-free limit. #### Create an informed employee retention strategy See what your return on investment could look like when offering a Student Loan Repayment Benefit [See your return](/calculators/employer-student-loan-repayment-roi-calculator) ## Helping Employers Implement Section 127 Plans Paidly assists employers in seamlessly incorporating Section 127 benefits into their payroll operations. By allowing employers to make supplemental payments to employees' student loans, Paidly helps businesses leverage Section 127 to benefit both the company and its employees. To learn more about how Paidly can help your organization implement a Section 127 plan, reach out to [Talk to one of our experts](/contact-sales) today. #### Table of Contents - #### Let's Talk Repayment Benefits Talk to one of our team of experts that will answer any questions [Talk to an Expert](/contact-sales) [](/blog/author/team-paidly) #### [Team Paidly](/blog/author/team-paidly) Paidly is the go-to platform for rising above student debt. We specialize in innovative solutions, such as employer student loan assistance benefits, streamlined 529 plan contributions, and crowdfunding tools for individuals and their families. Backed by nearly two decades of experience in financial technology, Paidly is committed to simplifying student loan repayment, reducing loan dependency, and empowering students to take control of their finances no matter where they are in their educational journey. [](https://www.linkedin.com/company/meetpaidly/ "LinkedIn")[](https://www.facebook.com/meetpaidly "Facebook")[](https://www.instagram.com/meetpaidly/ "Instagram")[](https://twitter.com/meetpaidly "Twitter")[](https://www.youtube.com/@paidly "YouTube")[](https://www.tiktok.com/@meetpaidly "TikTok") #### Stay Ahead of the Curve Get the latest insights on student loan repayment, 529 contributions, and maximizing employer benefits delivered to your inbox. Join the list By submitting your email, you agree to receive emails from Paidly and acknowledge that you can unsubscribe at any time. * * * The information provided is of a general nature and an educational resource. It is not intended to provide advice or address the situation of any particular individual or entity. Any recipient shall be responsible for the use to which it puts this document. Paidly shall have no liability for the information provided. While care has been taken to produce this document, Paidly does not warrant, represent or guarantee the completeness, accuracy, adequacy, or fitness with respect to the information contained in this document. The information provided does not reflect new circumstances, or additional regulatory and legal changes. The issues addressed may have legal, financial, and health implications, and we recommend you speak to your legal, financial, and health advisors before acting on any of the information provided. ### You may also like [Founder's Notes](/blog/category/founders-notes) 5 min read ## [The HR Guide to Using Your Entire Education Budget](/blog/the-hr-guide-to-using-your-entire-education-budget) Your education budget can do a lot more than just pay for tuition. Learn how adding student loan repayment can expand your benefits without expanding your budget. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) Aug 26, 2026 [For Individuals](/blog/category/individuals) 4 min read ## [Education Benefits You Should Know About](/blog/education-benefits-you-should-know-about) Education benefits like 529 savings, tuition reimbursement, and student loan repayment can help you reduce education costs during every stage of your career. [](/blog/author/team-paidly)[Team Paidly](/blog/author/team-paidly) Aug 07, 2026 [For Individuals](/blog/category/individuals) 5 min read ## [ABLE Accounts and 529 Plans: A Flexible Savings Strategy](/blog/what-is-an-able-account-529a) Learn how 529 plans and ABLE accounts work together to make your savings even more supportive. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Jul 22, 2026 --- # 5 Reasons student loan benefits is a smart move for employers URL: https://meetpaidly.com/blog/why-employers-should-offer-student-loan-repayment Description: If considering a move to a student loan repayment benefit, these are our top 5 reasons why your company should join the growing list of employers doing so. [Home](/ "Home")[Blog](/blog "Blog")[For Employers](/blog/category/employers "For Employers")5 Reasons student loan benefits is a smart move for employers # Top 5 Reasons Why Employers Should Offer Employee Student Loan Repayment Student loan debt is at an all-time high, quickly surpassing $1.5 trillion and continuing to grow every year. As a business owner, you likely have an employee or two struggling to pay their debt. [](/blog/author/team-paidly) [Team Paidly](/blog/author/team-paidly) Updated: Jul 14, 20255 min read [](https://www.facebook.com/sharer/sharer.php?u=https://meetpaidly.com/blog/why-employers-should-offer-student-loan-repayment "Share to Facebook") [](https://twitter.com/intent/tweet/?text=Top%205%20Reasons%20Why%20Employers%20Should%20Offer%20Employee%20Student%20Loan%20Repayment&url=https://meetpaidly.com/blog/why-employers-should-offer-student-loan-repayment "Share to Twitter") [](https://www.linkedin.com/sharing/share-offsite/?url=https://meetpaidly.com/blog/why-employers-should-offer-student-loan-repayment "Share to Linkedin") [](mailto:?Subject=Top%205%20Reasons%20Why%20Employers%20Should%20Offer%20Employee%20Student%20Loan%20Repayment&Body=Check%20this%20out%21%0Ahttps%3A%2F%2Fhttps://meetpaidly.com/blog/why-employers-should-offer-student-loan-repayment "Share to Email") * * * Student loans are a massive burden for many people, and often, the only way to pay them off is by waiting until they have a well-paying job. However, this doesn’t mean that they have to wait until then before they can start paying it off at all—it just means that they have to find other ways of doing so in the meantime. One option? You, the employer, might be able to help out with supplemental contributions toward your employee’s student loan repayment! Here are 5 reasons why employers should consider offering an employee student loan repayment benefit. ## 1\. Employee Retention Retaining employees is a top priority for many companies, especially in the competitive job market. These days, employees are more likely to look at factors like benefits and culture when deciding whether or not to stay with a company. As it turns out, employee retention can be greatly improved by offering student loan repayment benefits as an after-tax benefit. Employees who have student loan debt are more likely to leave their jobs due to financial obligations than those without student loans, according to a [ADP Research Institute Employee Sentiment Survey](https://www.adpri.org/employers-and-student-debt/) on employee attitudes toward student loans. Employers also benefit from offering this type of benefit. It increases loyalty among workers by their employees who feel appreciated and valued by their employers. Attracts high performing talent that may otherwise go elsewhere due to lack of financial support. Reduces turnover costs (e.g., training new employees). Identifies you as an employer that cares about its employees' well-being beyond just compensation packages. #### Create an informed employee retention strategy See what your return on investment could look like when offering a Student Loan Repayment Benefit [See your return](/calculators/employer-student-loan-repayment-roi-calculator) ## 2\. Recruitment Employers should offer student loan repayment benefits to help attract top talent and demonstrate that you care about your employees. These benefits are also an alternative to 401(k)s, which have become less popular as individuals move away from traditional retirement plans. A study done by the National Association of Colleges and Employers found that 52% of employers plan to offer student loan repayment benefits in the next two years. This is a significant increase over previous years: In 2017, only 27% reported offering these perks; in 2016, it was just 14%. And these numbers are likely to continue growing rapidly as more companies realize how valuable it is for them to help their workers gain financial wellness by paying off their debt faster. ## 3\. Tax Benefits One of the biggest benefits of offering a student loan repayment program is the ability to leverage new [tax advantages](/tax-free) and offer the hottest new benefit. Employer student loan assistance is tax deductible to employers, but only if they are eligible for the deduction. The Internal Revenue Service (IRS) has guidelines for determining whether or not your company qualifies for an employer student loan repayment plan. ## 4\. Financial Wellness for Millennials As a millennial, you're more likely to have student loan debt than other generations. According to the Federal Reserve, millennials hold $1.5 trillion in outstanding student loans; this is more than twice what baby boomers owed at the same age. Millennials are also less likely to own homes and have higher levels of credit card debt as well as greater access to alternative financing options (like payday loans). It's no wonder that many millennials feel financially stressed! Millennials have a lower net worth than previous generations did when they were young adults. Although this trend could be reversed if millennial wages continue rising and inflation stays low, it's evident that there's still room for improvement here—and employers can help by offering employee student loan repayment as part of their benefits packages. ## 5\. If you want to retain or recruit top talent, offer student loan repayment assistance. As the economy improves, millennials are looking for new jobs as they move on from their college careers. And if you want to keep or recruit top talent, offering student loan repayment is one way to do it. Employers can help their employees pay off their student loans in a tax-free way through a program called the [Education Tax Credit](https://www.irs.gov/newsroom/tax-benefits-for-education-information-center). The program gives employers a dollar-for-dollar reduction in payroll taxes—up to $5,250 per employee per year. That's money that could otherwise be put towards your own retirement savings plan or daily spending needs, but instead goes right back into helping your employees get ahead financially! Still not sure how to really get started? Be sure to read our [How to start a student loan repayment benefit](/blog/how-to-start-a-student-loan-repayment-benefit). ## Empowering Solutions in Student Loan Repayment A transformative approach to attracting and retaining employees lies in student loan repayment assistance, an innovative, collaborative solution for employers and employees alike. This synergy creates an environment where employers benefit from a loyal, engaged workforce, and employees gain the priceless advantage of financial freedom. Are extra payments worth it? Let's find out. [Check My Savings](/calculators/student-loan-benefit-calculator) With Paidly, [a platform designed to empower you as employers](/employer). Paidly allows you to contribute to your employees' supplementary student loan payments at a frequency that suits your strategic goals: yearly, biannually, or quarterly. Seize this opportunity and discover how these flexible payments can save thousands of dollars for your organization. Embark on your journey towards an impactful employee benefits solution with Paidly’s [on-demand payments](/on-demand). Together, we can catalyze positive change for employers, employees, and generations to come. #### Table of Contents - #### Let's Talk Repayment Benefits Talk to one of our team of experts that will answer any questions [Talk to an Expert](/contact-sales) [](/blog/author/team-paidly) #### [Team Paidly](/blog/author/team-paidly) Paidly is the go-to platform for rising above student debt. We specialize in innovative solutions, such as employer student loan assistance benefits, streamlined 529 plan contributions, and crowdfunding tools for individuals and their families. Backed by nearly two decades of experience in financial technology, Paidly is committed to simplifying student loan repayment, reducing loan dependency, and empowering students to take control of their finances no matter where they are in their educational journey. [](https://www.linkedin.com/company/meetpaidly/ "LinkedIn")[](https://www.facebook.com/meetpaidly "Facebook")[](https://www.instagram.com/meetpaidly/ "Instagram")[](https://twitter.com/meetpaidly "Twitter")[](https://www.youtube.com/@paidly "YouTube")[](https://www.tiktok.com/@meetpaidly "TikTok") #### Stay Ahead of the Curve Get the latest insights on student loan repayment, 529 contributions, and maximizing employer benefits delivered to your inbox. Join the list By submitting your email, you agree to receive emails from Paidly and acknowledge that you can unsubscribe at any time. * * * The information provided is of a general nature and an educational resource. It is not intended to provide advice or address the situation of any particular individual or entity. Any recipient shall be responsible for the use to which it puts this document. Paidly shall have no liability for the information provided. While care has been taken to produce this document, Paidly does not warrant, represent or guarantee the completeness, accuracy, adequacy, or fitness with respect to the information contained in this document. The information provided does not reflect new circumstances, or additional regulatory and legal changes. The issues addressed may have legal, financial, and health implications, and we recommend you speak to your legal, financial, and health advisors before acting on any of the information provided. ### You may also like [Founder's Notes](/blog/category/founders-notes) 5 min read ## [The HR Guide to Using Your Entire Education Budget](/blog/the-hr-guide-to-using-your-entire-education-budget) Your education budget can do a lot more than just pay for tuition. Learn how adding student loan repayment can expand your benefits without expanding your budget. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) Aug 26, 2026 [For Individuals](/blog/category/individuals) 4 min read ## [Education Benefits You Should Know About](/blog/education-benefits-you-should-know-about) Education benefits like 529 savings, tuition reimbursement, and student loan repayment can help you reduce education costs during every stage of your career. [](/blog/author/team-paidly)[Team Paidly](/blog/author/team-paidly) Aug 07, 2026 [For Individuals](/blog/category/individuals) 5 min read ## [ABLE Accounts and 529 Plans: A Flexible Savings Strategy](/blog/what-is-an-able-account-529a) Learn how 529 plans and ABLE accounts work together to make your savings even more supportive. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Jul 22, 2026 --- # Student Loan Solutions & Insights at Paidly's Blog URL: https://meetpaidly.com/blog Description: Discover Paidly's Blog for critical insights on managing student debt, income-driven repayment plans, and embracing employer-sponsored repayment benefits. Unleash financial freedom with expert guidance. # The Paidly Blog Stay informed in our ever-evolving world of student loans and repayment strategies. Gain control of your financial wellness journey through comprehensive benefits solutions. Leverage Paidly, your trusted partner, as we reveal insights, actionable trends, and empowering strategies centered on student loans and adaptable benefits. Featured [Founder's Notes](/blog/category/founders-notes) 5 min read ## [The HR Guide to Using Your Entire Education Budget](/blog/the-hr-guide-to-using-your-entire-education-budget) Your education budget can do a lot more than just pay for tuition. Learn how adding student loan repayment can expand your benefits without expanding your budget. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully)Aug 26, 2026 [ ](/blog/the-hr-guide-to-using-your-entire-education-budget) * * * ## Latest Insights Category Filters AllBenefit ProfessionalsBorrower ExperiencesFor EmployersFor IndividualsFounder's NotesMedia Mentions [For Individuals](/blog/category/individuals) 4 min read ## [Education Benefits You Should Know About](/blog/education-benefits-you-should-know-about) Education benefits like 529 savings, tuition reimbursement, and student loan repayment can help you reduce education costs during every stage of your career. [](/blog/author/team-paidly)[Team Paidly](/blog/author/team-paidly) Aug 07, 2026 [For Individuals](/blog/category/individuals) 5 min read ## [ABLE Accounts and 529 Plans: A Flexible Savings Strategy](/blog/what-is-an-able-account-529a) Learn how 529 plans and ABLE accounts work together to make your savings even more supportive. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Jul 22, 2026 [Founder's Notes](/blog/category/founders-notes) 4 min read ## [Maximizing Your Total Rewards Budget](/blog/tax-advantaged-benefits-make-small-raises-go-further) How to offset stagnant wages with tax-advantaged benefits – making a 1% raise feel like 3%. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) Jul 09, 2026 [For Individuals](/blog/category/individuals) 5 min read ## [How the Big Beautiful Bill Affects Student Savings](/blog/one-big-beautiful-bill-student-savings-changes) OBBBA expanded 529 plan uses, made ABLE provisions permanent, and introduced Trump Accounts. Here’s what you need to know. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) Jun 24, 2026 [For Individuals](/blog/category/individuals) 5 min read ## [How the One Big Beautiful Bill Affects Student Borrowers](/blog/one-big-beautiful-bill-student-loan-changes) OBBBA is reshaping federal student loans through reduced repayment plans, tighter hardship protections, and new borrowing caps. Here’s what you need to know. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) Jun 18, 2026 [Founder's Notes](/blog/category/founders-notes) 4 min read ## [The SAVE Plan is Ending. Here’s Why Employers Need to Act.](/blog/save-plan-ending) The end of the SAVE Plan means your most educated employees may be facing hundreds in extra student loan expenses each month. Learn how tax-free benefits can keep them from closing the gap elsewhere. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) Jun 03, 2026 [For Individuals](/blog/category/individuals) 6 min read ## [Child Savings Accounts: Coverdell ESAs vs. 529 Plans vs. Trump Accounts](/blog/child-savings-accounts-529-coverdell-530A) Trump Accounts offer more flexibility but less tax advantages than 529 plans and Coverdell ESAs. Learn how these child savings options compare so you can pick the best fit for your child’s future. [](/blog/author/team-paidly)[Team Paidly](/blog/author/team-paidly) May 27, 2026 [Founder's Notes](/blog/category/founders-notes) 5 min read ## [The Importance of College Savings: An Open Letter to My Kids About 529s](/blog/why-529-college-savings-matters) What I want my kids to know about their 529 savings plans. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) May 20, 2026 [For Employers](/blog/category/employers) 5 min read ## [How Employee Financial Wellness is Impacting Your Business](/blog/student-debt-hurts-employee-financial-wellness) Student debt is affecting your workforce and your business. Learn the importance of financial wellness and how you can foster it through strategic benefits. [](/blog/author/team-paidly)[Team Paidly](/blog/author/team-paidly) May 14, 2026 [Founder's Notes](/blog/category/founders-notes) 6 min read ## [Who's Going to Take Care of Our Mental Health Workers?](/blog/mental-health-worker-crisis) Federal student loan policy is making it harder to become a mental health worker. We need to do something about it. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) May 06, 2026 [For Individuals](/blog/category/individuals) 7 min read ## [Refinancing Student Loans](/blog/refinancing-student-loans) Refinancing can be a helpful way to reshape your student loans, but the right choice depends on your goals, your finances, and what you’re willing to trade off. [](/blog/author/samantha-park)[Samantha Park](/blog/author/samantha-park) Apr 29, 2026 [Founder's Notes](/blog/category/founders-notes) 6 min read ## [What is Loud Budgeting?](/blog/loud-budgeting) Learn how “loud budgeting” can help you reach your financial goals, especially when it comes to paying down student loans or building 529 college savings. [](/blog/author/john-scully)[John Scully, CEO](/blog/author/john-scully) Apr 22, 2026 1234...8 #### Stay Ahead of the Curve Get the latest insights on student loan repayment, 529 contributions, and maximizing employer benefits delivered to your inbox. Join the list By submitting your email, you agree to receive emails from Paidly and acknowledge that you can unsubscribe at any time. --- # Redirect Bonuses and Unused PTO to Pay Off Student Loans URL: https://meetpaidly.com/bonus-pto-conversion Description: Paidly lets employers redirect bonuses and unused PTO to pay off student loans tax-free, up to $5,250 per year under IRS Section 127. # Redirect Bonuses & Unused PTO to Student Loans Automate principal-only student loan payments using unspent payroll budgets. Reduce PTO liabilities and increase employee retention with a high-impact tax-free program. Sign-on bonuses Referral bonus Paid Time Off Quarterly bonus Annual bonus Holiday bonus [Get Started Today](https://app.meetpaidly.com/get-started)[Talk to an Expert](/contact-sales) Unused PTO Balance Liability 40 hrs expiring * * * Employees lose hours that vanish into thin air. Employers face expensive end-of-year tax liabilities. Paidly Conversion TAX-FREE $2,000 to loan principal \+ Paidly Recurring Benefit Combine your lump sum with an employer match to pay off loans years faster. ## Tax-Free Student Loan Repayment via Section 127 Establish a fully compliant educational assistance program. Under current IRS code, employers can contribute up to $5,250 annually toward an employee's student loans without any tax liability for either party. [Learn more about tax-free benefits](/tax-free) Fully Compliant Structured to meet all CARES Act and IRS Section 127 guidelines for tax-free educational assistance. Zero Technical Integration Works alongside your existing payroll or HRIS without complex API setups or data migrations. ### $5,250 Maximum Annual Tax-Free Limit IRS Qualifying Educational Assistance ## Accelerate Payoff Dates and Reduce Compound Interest Cash bonuses often lose roughly 40% or more immediately to taxes. By routing that value directly to student loans, you maximize the impact of every dollar. #### Tax Savings Impact Standard cash bonuses face heavy withholding and payroll taxes. Paidly routes the full value directly to the loan principal to maximize employee savings. Standard Cash Bonus ~$3,150 Tax-Heavy Paidly Contribution $5,250 Tax-Free Advantage: Paidly routes the full $5,250 to loans, providing $2,100 more value than a traditional bonus. Total Acceleration 1 year 8 months SOONER * * * Debt-Free Date July 2034 (vs March 2036 standard) Interest Savings $3,761.77 (in avoided interest) [Lump Sum Extra Payment Calculator](/calculators/lump-sum-payment-calculator) ### Eliminate the Annual PTO Liability Time Bomb Convert accrued PTO expenses into a tax-advantaged student loan repayment program. Attack debt with pre-tax dollars while clearing balance sheet liabilities without administrative complexity. Talk to an Expert ### Convert Unused Time into Financial Flexibility Don't let your "use it or lose it" hours expire or be eroded by withholding. Route the full value of your PTO directly to your loan principal to hit zero debt faster. Tell Your Company Powered by Paidly On-Demand ## Flexible payments. Zero recurring commitments. Add on-demand repayment to your rewards strategy in minutes. Zero-integration required as we handle loan verification and direct servicer payments. [Explore On-Demand](/on-demand) ## PTO Buyback and Bonus Resources Internal adoption requires clear education. Access our manager guides and pitch kits to help your organization understand the massive financial impact of tax-free principal payments. ### Boost Your PTO Buyback A technical breakdown on how redirecting PTO to student loans creates a long-term financial advantage for employees. [Read Article](/blog/boost-your-pto-buyback) ### Tax-Free Bonus Strategy A guide to structuring bonuses using Section 127 to maximize cash value for your workforce while bypassing income tax. [Explore Guide](/blog/give-your-employees-a-tax-free-bonus-using-pto-buyback) ## Modernize Your Total Rewards Strategy Contact our implementation experts to launch a student loan program at your organization. For employees, we’ll provide you with the resources to share Paidly’s value with your HR or Benefits team. [Or Get started today with Paidly On-Demand](https://app.meetpaidly.com/get-started) ### Message our Team I am an \* Employer Employee First name \* Last name \* Your Organization email \* Phone number Does your Organization Accrue PTO? \* Yes No Submit Request --- # Employer Student Loan Repayment ROI Calculator URL: https://meetpaidly.com/calculators/employer-student-loan-repayment-roi-calculator Description: Employer Student Loan Repayment (ROI) Calculator to measure the estimated return you could see when providing Paidly Student Loan repayment benefits. The Math # Employer ROI Calculator Estimate your return on investment (ROI) when offering an employer supplemental student loan repayment benefit. Fill out the form below to see how much you can save. ## Company Profile Number of Employees100 Annual Employee Turnover Rate28% Average Compensation $ Training Cost $ Recruitment Cost $ Paidly Contribution / Month $ ### Estimated ROI Total Benefit to Employee Turnover Cost Reduction \*The information and materials contained on this Website are for information purposes only. Use of the Website is at your sole risk. We use reasonable efforts to include reliable information and materials, but Paidly makes NO WARRANTIES OR REPRESENTATIONS AS TO THE ACCURACY, COMPLETENESS AND TIMELINESS OF SUCH INFORMATION AND MATERIALS AND EXPRESSLY DISCLAIMS ANY LIABILITY FOR ANY ERRORS OR OMISSION CONTAINED IN THE Website. ### Not ready for a monthly contribution? Contribute to your employees when you want, on your schedule. Checkout Paidly's On-Demand option. [Learn More](/on-demand) ### Want to start but have questions how? Let's talk, let one of our expert team members answer any of your questions and show you a demo. [Talk to an Expert](/contact-sales) ### Enhance your benefits Easily add a student loan repayment benefit in minutes. No sales call required to start. [Get Started Now](https://app.meetpaidly.com/get-started) ## Why Choose Paidly for Your Student Loan Benefit? The only student loan benefit platform that offers a comprehensive solution for employers and employees. ### Full Customization Tailored plans for your team. Not sure where to start? We've got you covered. ### Transparent Costs No contract. No hidden fees. Clear pricing that grows with your company. ### Easy Access Monitor your benefit anytime, anywhere with your personalized accounts for employers and employees. ### Guaranteed Privacy Employees share loan details directly with Paidly. HR headache avoided. ### Security Protecting customer data and personal information is our top priority. ### Real Support Real people, real service. We're here for you and your team, every step of the way. --- # Lump Sum Student Loan Extra Payment Calculator URL: https://meetpaidly.com/calculators/lump-sum-payment-calculator Description: Estimate savings from a lump sum extra payment. Redirect bonuses or PTO toward debt with a Paidly On-Demand Student Loan Repayment Benefit. The Math # Lump Sum Payment Calculator Visualize exactly how much sooner you'll be debt-free by applying a bonus, buyback, or one-time payment directly to your principal. Loading calculator... ## Eliminate Debt Sooner Extra payments applied directly to your principal drastically change the life of your loan. By lowering the balance that interest is calculated on, you reclaim your future faster. ### Compounding Math Every dollar redirected to principal reduces the base balance for next month's interest calculation. This simple strategy compounds over time, shaving months and thousands of dollars off your total debt. [How Interest Works](/blog/how-does-student-loan-interest-work) ### Tax-Free Contributions Leverage IRS Section 127 to redirect bonuses or PTO buybacks into tax-free student loan payments up to $5,250 annually. Convert your gross bonus into high-impact debt payments without the tax drag. [Tax-Free Bonus Strategy](/blog/give-your-employees-a-tax-free-bonus-using-pto-buyback) ### PTO Buyback Boost Don't let leftover PTO expire or be taxed as standard income. Redirecting it into your loan principal is one of the most efficient ways to accelerate your debt-free date. [Boost Your PTO Buyback](/blog/boost-your-pto-buyback) ### On-Demand Speed Paidly On-Demand allows you to schedule extra payments outside of standard payroll cycles. Apply your lump sum today and start saving on interest immediately. [Explore Bonus Conversion](/bonus-pto-conversion) ## Don't have a Student Loan Benefit yet? We can help you start the conversation with your employer to present the benefits to your HR or benefits manager. [Talk to an Expert](/contact-sales)[Explore On-Demand](/on-demand) --- # Student Loan Repayment Benefit Calculator URL: https://meetpaidly.com/calculators/student-loan-benefit-calculator Description: Calculate your exact savings in interest and time when using an employer Student Loan Repayment Benefit to pay off debt faster with Paidly. The Math # Student Loan Benefit Calculator A supplemental employer payment can save you thousands in interest and bypass years of repayment. Enter your loan details below to see the impact of a Paidly student loan benefit. Loading calculator... ## Understanding the Impact The strategy behind employer student loan repayment is simple yet powerful. By targeting principal directly, you bypass the standard interest-heavy repayment curve. ### Compounding Interest Savings Extra monthly payments through Paidly are applied directly to your principal. This reduces the base amount on which interest compounds every month, creating a snowball effect that accelerates your debt-free date. [How Interest Works](/blog/how-does-student-loan-interest-work) ### Permanent Tax Savings Employer contributions up to $5,250 annually are permanently tax-free under IRS Section 127. This allows you to receive your full benefit amount without any income tax withholding. [Explore Tax-Free Benefits](/tax-free) ### On-Demand Repayment Don't wait for standard payroll cycles. With Paidly On-Demand, you and your employer can schedule supplemental payments that hit your loan servicer in real-time to maximize interest reduction. [Explore On-Demand](/on-demand) ### Smarter Projections Our calculator accounts for your current balance and rate to provide high-fidelity forecasts. Understanding these variables is the first step toward reclaiming your future. ## Don't have a Student Loan Benefit yet? The best way to get a student loan benefit is to start the conversation with your employer. We can help you present the benefits to your HR or benefits manager. [See how it works](/employee)[Talk to an Expert](/contact-sales) --- # Talk to an Expert: Student Loan & 529 Benefits URL: https://meetpaidly.com/contact-sales Description: Questions getting started with Employer Student Loan Repayment and 529 Benefits? Our Sales Team is here to answer any questions and provide a demo. # Talk to an Expert ## Let's talk repayment and 529 benefits Tell us about yourself and someone from our team of experts will be in touch to answer any questions or provide you a demo. Differentiate your company with unique, [highly valued Student Loan Repayment and 529 assistance](/employer), attracting top talent. Launch a comprehensive benefits scheme featuring [PTO buyouts](/bonus-pto-conversion), bonus structures, and essential catch-up provisions. Benefit from current tax guidelines, [offering $5,250 in tax-exempt educational assistance annually](/tax-free). ### Send us a message First name \* Last name \* Company email \* Phone number Number of Employees \*Please select one1-55-2525-100100-500500-10001000+ How can we help? \* I agree to receive marketing communications, newsletters and promotional offers from Paidly. \* Talk to an Expert ### Technical support Experiencing issues or have questions about your account? [Contact Support](https://app.meetpaidly.com/help) ### Security questions Questions about our security or did you find an issue? [security@meetpaidly.com](mailto:security@meetpaidly.com) ### General inquiry For questions around press or partnerships, please email. [happiness@meetpaidly.com](mailto:happiness@meetpaidly.com) --- # Pay Off Student Loans Faster with Employer Benefits URL: https://meetpaidly.com/employee Description: Take years off your student debt with Paidly. Combine tax-free employer student loan repayment benefits, 529 contributions, and crowdfunding. # Pay Off Your Student Loans Faster with Paidly Connect your loans to receive tax-free employer contributions toward your principal as you work toward PSLF or a total payoff. Let your friends and family send gifts that actually lower your debt, and unlock **0% crowdfunding fees** as soon as your company joins Paidly. Get Started for Free [](https://apps.apple.com/us/app/paidly/id6740494436)[](https://play.google.com/store/apps/details?id=com.paidly.mobile) Total Loan Balance $32,450.00 $26,550 Paid45% Goal #### Recent Contributions Employer Match TechCorp Inc. +$250 Mom & Dad Happy Birthday! +$100 PTO Buyback Techcorp Inc. +$1,500 Share Donation Link ### Help Jordan Crush Debt! New York University (NYU) '25 Contribute directly $25$50$100 Donate Securely Funds sent directly to loan servicer ## Friends Helping Friends: Crowdfund Your Student Debt and 529s Connect your student loans or your child's 529 college savings account to the Paidly app. Get a personalized donation page link that you can easily share across social media platforms. ### Direct & Transparent When family or friends donate, the funds are sent directly to the education savings account or loan servicer, ensuring absolute transparency. ### Total Privacy Friends and family only see your public donation page. They do not have access to your debt balance, interest rates, or financial dashboard. [Explore all Friends Helping Friends features](/friends-helping-friends) ### Transparent Pricing & Promotion Standard transactions carry a 2.75% usage fee, but this drops permanently to **0%** if your employer signs up to offer Paidly as a corporate benefit. ## Maximize Your Benefits When Your Employer Signs Up Accelerate your debt payoff by routing your corporate benefits directly to your principal balance, all while keeping your personal financial data completely secure. ### Up to $5,250 Tax-Free Annually If your employer signs up for Paidly, they can make supplemental, tax-free payments directly to your student loans. This benefit works alongside your standard monthly minimum payments to aggressively shave down the principal balance. Reduces total interest paid significantly. Tax-free contributions under IRS Section 127. ### Absolute Privacy Assured Paidly acts as a secure intermediary. We route funds to your servicer, never sharing your loan information with employers, family, or friends. Employers cannot see your loan balances. Financial dashboard data is completely hidden. The Math ## Why Supplemental Payments Matter By routing funds directly to your principal, you bypass years of compounding interest. Adjust the slider to see the impact on a **$30,000 loan**. $30k$0Today10 Yrs With Paidly Standard Monthly Paidly Contribution+$100 $0$500/mo Standard Interest $9,967 Standard Payoff 10 Years New Interest $6,896 New Payoff Time 7 Yrs 2 Mos Saves $3,071 and 2 yrs 10 mos [Calculate exact savings](/calculators/student-loan-benefit-calculator) \*Data based on entered loan values. Assumes extra payments applied throughout repayment term. Individual savings will vary. How It Works ## Attack the Principal. Save Thousands. Paidly does **not**replace your standard monthly payment. We automatically route your employer's contributions as **supplemental payments** directly against your principal balance. ### 1\. Employers & Family Employers sign up for tax-free benefits, while friends and family can make standard donations to your secure public link. [](/) ### 2\. Secure Processing We securely process the funds and handle the compliance, without ever sharing your private loan details. ### 3\. Student Loan Servicer Funds are sent directly to your student loan servicer as a supplemental principal payment. ### Looking to lower your interest rate? Combine your employer's Paidly contributions with a lower refinanced rate to create the ultimate debt-crushing strategy. [Explore Refinance Partners](/partners/student-loans) ## On Track for Public Service Loan Forgiveness (PSLF)? For employees working in the public sector or at 501(c)(3) non-profits, managing PSLF paperwork can be stressful. Paidly helps automate the employment certification process to ensure every payment counts toward the 120 qualifying payments needed for total loan forgiveness. [Access Fed. Student Aid PSLF Tool](/resources/pslf) Our free educational guides walk you through exactly how to verify your employment and stay on track. ## Ready to Crush Your Debt? Get started on the web or download the app to begin your journey today. Unlock your **0% usage fee** tier by advocating for Paidly at your workplace. [Get the App](/app-download)Get Started for Free ## Have questions? Our support team is ready to help. Email us at [happiness@meetpaidly.com](mailto:happiness@meetpaidly.com) or call toll-free: [(888) 384-6010](tel:888-384-6010) [See all FAQs](/faqs) --- # Employer Student Loan Repayment Benefit URL: https://meetpaidly.com/employer Description: Offer customized Student Loan Repayment and 529 benefit plans. Enhance retention with employer contributions and community crowdfunding. # The Easiest Way to Offer Student Loan Repayment as a Benefit Offer the #1 benefit Gen Z and Millennial employees want — while reducing turnover with almost zero HR work. Reduce turnover up to 40% Save over $240k annually Contribute tax-free up to $5,250 per employee Get Started Today[Talk to an Expert](/contact-sales) Total Employees500 Average Annual Salary$68,000 Current Turnover Rate24% Estimated Paidly Adoption24% Annual Savings 40% improvement $258,509 From reduced turnover and hiring costs Trusted by HR leaders at fast-growing companies Used by 50+ teams to reduce turnover and hiring costs ## The Direct Impact of Student Loan Benefits 43M Borrowers Americans burdened by student loan debt. 87% Retention Increase in employee retention rates for companies offering this benefit. $30K+ Savings Average principal and interest saved per employee. 71% Engagement Employees report higher job satisfaction and engagement. Solutions ## Enhance Your Benefits Package. Paidly is designed to complement your existing rewards strategy, providing your team with targeted tools to eliminate debt without any administrative complexity. ### Student Loan Repayment Empower employees to tackle their debt faster with tax-free monthly contributions. Supplemental payments are sent directly to their principal balance to crush high interest. ### 529 College Savings Support your team's family milestones by contributing directly to their 529 plans, helping them save for future education without the tax burden. ### Employee Crowdfunding A powerful addition to your corporate benefit: give employees free access to our companion app, allowing them to securely crowdfund additional payments from friends and family with 0% fees. Not Just Recurring ### Enhance your benefits Easily add on-demand student loan repayment in minutes. No sales call required to start. Perfect for sign-on bonuses, PTO conversion, and quarterly rewards. [Explore On-Demand](/on-demand) ## Tax-Free Student Loan Repayment via Section 127 Establish a fully compliant educational assistance program. Under current IRS code, employers can contribute up to $5,250 annually toward an employee's student loans without any tax liability for either party. [Learn more about tax-free benefits](/tax-free) Fully Compliant Structured to meet all CARES Act and IRS Section 127 guidelines for tax-free educational assistance. Zero Technical Integration Works alongside your existing payroll or HRIS without complex API setups or data migrations. ### $5,250 Maximum Annual Tax-Free Limit IRS Qualifying Educational Assistance ## Why Choose Paidly for Your Student Loan Benefit? The only student loan benefit platform that offers a comprehensive solution for employers and employees. ### Full Customization Tailored plans for your team. Not sure where to start? We've got you covered. ### Transparent Costs No contract. No hidden fees. Clear pricing that grows with your company. ### Easy Access Monitor your benefit anytime, anywhere with your personalized accounts for employers and employees. ### Guaranteed Privacy Employees share loan details directly with Paidly. HR headache avoided. ### Security Protecting customer data and personal information is our top priority. ### Real Support Real people, real service. We're here for you and your team, every step of the way. The Employee Experience ## Corporate Benefits Meet Community Support. Your company contributions are routed directly to principal balances. As an added bonus, employees get free access to our companion app to safely crowdsource additional payments from their personal network. ### Direct & Transparent When family or friends donate, the funds are sent directly to the loan servicer, ensuring absolute transparency. ### Total Privacy Employers and donors only see the public page. They never have access to private loan balances or personal financial data. ### Transparent Pricing Standard transactions carry a 2.75% usage fee, but this drops permanently to **0%** for all employees if your company signs up to offer Paidly as a corporate benefit. 0% Platform Fees for Your Team When You Sign Up [Explore Crowdfunding Features](/friends-helping-friends) [View App Details](/mobile-app) ## Real results. Real impact. Hear how Paidly is helping companies offer life-changing benefits and empowering individuals to crush their student debt. "We have been extremely pleased with Paidly as our partner in implementing and administering our Student Loan Repayment Benefit. The setup was seamless, with exceptionally easy implementation and employee enrollment. Most importantly, employee satisfaction has been outstanding, with participants consistently praising the impact of the program." \*Edited for brevity ### Brian Vanderberg HR Leader [](https://www.homewardhealth.com/?utm_source=meetpaidly.com&utm_medium=referral&utm_campaign=home_testimonials) "We asked Paidly for a custom report and had it right away. The data made the decision easy - we're increasing our contribution so our team can pay off their student loans faster. They've been a great partner." \*Edited for brevity ### Brooke Brault Head of People Operations [](https://perpay.com/?utm_source=meetpaidly.com&utm_medium=referral&utm_campaign=home_testimonials) "The student loan benefit through Paidly is a welcome addition to our benefit offerings. The implementation process was effortless and their website is easy to manage. The Paidly Team encourages customer ideas and feedback." \*Edited for brevity ### HR Team People Operations [](https://www.gwlisk.com/?utm_source=meetpaidly.com&utm_medium=referral&utm_campaign=home_testimonials) How It Works ## Simplify Student Loan Benefits. Maximize Impact. Paidly automates the end-to-end contribution process, from custom plan design to direct servicer delivery, ensuring a frictionless experience for your team. ### 1\. Define Your Program Establish contribution rules, eligibility tiers, and funding schedules that fit your hiring and retention goals. [](/) ### 2\. Secure Validation Paidly validates employee student loans while keeping balances private from HR, preventing a privacy nightmare. ### 3\. Direct-to-Servicer Contributions are delivered directly to employee loan servicers as supplemental principal payments, ensuring every dollar goes toward debt relief. Onboarding ## How to Get Started We know you're busy. With Paidly, it's 3 easy steps, and we take it from there. ### 1\. Create & Setup Sign up and enter basic company details to establish your secure administrative Paidly account in minutes. ### 2\. Schedule Payments Configure your Section 127 plan and easily schedule your tax-free supplemental payments. ### 3\. Invite Team Send invites to a single employee or bulk-invite groups. They connect their loans, you click send. [Start Your Setup Now](https://app.meetpaidly.com/get-started) ## Have questions? Our support team is ready to help. Email us at [happiness@meetpaidly.com](mailto:happiness@meetpaidly.com) or call toll-free: [(888) 384-6010](tel:888-384-6010) [See all FAQs](/faqs) --- # Student Loan & 529 Benefit FAQs URL: https://meetpaidly.com/faqs Description: Get answers to all your questions about Paidly's student loan repayment benefits, 529 college savings, and educational crowdfunding platform. # Frequently Asked Questions Whether you're an employer offering student loan and 529 benefits, or an individual crowdfunding your debt, this guide explains how Paidly works. Our support team is ready to help. Email us at happiness@meetpaidly.com [About the Company](/about-us)[Talk to an Expert](/contact-sales) ## How Paidly Works ## Employer ## Employee ## 529 ## On-Demand ## Crowdfunding ## Pricing & Payments --- # Build College Savings and Reduce Student Debt URL: https://meetpaidly.com/friends-helping-friends Description: Experience Paidly's innovative platform for friends, family, and employers to contribute to your College Savings and Reduce Student Debt. ## An Inclusive Solution # Turbocharge College Savings and Alleviate Loan Debt Paidly's crowdfunding technology empowers families, friends, and employers to make education more affordable. Sign Up For Free[Search for a Friend](/friends) S Stephen's Education Fund Student Loans $4,850 of $5,000 goal 97% Funded Recent Contributions A Aunt Sarah Keep it up! ❤️ +$150 M Mom & Dad So proud of you. +$500 Contribute Now ## A Powerful, Safe, and Secure Mobile App Make a lasting impact on someone's future. The Paidly app is your ultimate tool for meaningful giving. Download it today and start helping loved ones achieve their dreams. Scan to download the app. [](https://play.google.com/store/apps/details?id=com.paidly.mobile)[](https://apps.apple.com/us/app/paidly/id6740494436) ## Join a Community Committed to Supporting Each Other You're not alone on this journey. Paidly connects you with others working toward the same goals: financial independence for you and your loved ones. ## Let Friends and Family Donate Toward Your College Savings and Loans Easily receive donations via Paidly as your community contributes. Funds are sent directly to education savings and loans, ensuring transparency and confidence. ## Plan for Their Future: 529 College Savings with Paidly Groups Easily connect your child's 529 education savings account to Paidly. Invite family and friends to contribute directly, making it a group effort toward a brighter future. ## Share Socially Broaden your audience and elevate engagement by effortlessly sharing across multiple social media platforms with a single click. ## Easy Setup–Start Receiving Donations Right Away Simply enter your account details and share with your community so they can start contributing toward your college savings or loans. ## Transparent Pricing, No Surprises Start collecting contributions immediately. We only charge when you meet minimums. #### To Sign Up Free Create an account and start accepting donations in minutes. Monthly fees are always $0. #### Usage Fee 2.75% or 0%with employer benefit Automatically deducted only when a payment is sent to your college savings or loans. #### Donor Transaction Fee 2.9% \+ 30¢ Deducted from each donation. **90% of donors** choose to cover this fee for you! \*Paidly requires a minimum of $25 in received donations by the 15th of each month to make a payment to your loans. The usage fee is only charged when the account minimum is met and the funds are sent to your college savings or loans. ## Gain More Through Employers Don't miss out on employer contributions! Not only will you reach your goals faster with contributions from your employer, but when under an employer recurring benefit plan, Paidly waives the usage fee and the minimum $25 limit – making it free for you! [Learn more →](/employer) 0% Usage fee Friends Helping Friends has been a game-changer in helping me pay off my student loans! My friends and family generously contributed to my campaign, including a surprise donation for a celebratory pie when I reached a major milestone. I'm so grateful for the support and the fun, pie-filled memories we've created along the way! Stephen Agile Coach Sign Up For Free ## Have questions? Our support team is ready to help. Email us at [happiness@meetpaidly.com](mailto:happiness@meetpaidly.com) or call toll-free: [(888) 384-6010](tel:888-384-6010) [See all FAQs](/faqs) --- # Student Loan Repayment Benefit & 529 Contributions URL: https://meetpaidly.com/ Description: Crush student debt with Paidly, the unified platform combining tax-free employer Student Loan Repayment Benefits, 529 contributions, and crowdfunding. # The Only Unified Platform to Crush Student Debt Individuals and employees crowdfund payments from their community while employers provide up to $5,250 in tax-free contributions for **Student Loan Repayment as a Benefit.** [Get Started for Free](https://app.meetpaidly.com/get-started)[Talk to an Expert](/contact-sales) Employer Match Tax-Free SLRB +$250 PTO Buyback Accrued Time +$1,500 Colleagues & Family Happy birthday! 🎉 +$296 Student Loan Balance $32,450 45% Paid Trusted by forward-thinking HR teams & partners ## The Direct Impact of Student Loan Benefits $42k Lifetime Savings Projected principal and interest saved by a typical borrower. 4.2 yrs Milestones Reclaimed Average time shaved off repayment with consistent contributions. 2.5x Payoff Velocity Increase in payoff speed with an extra $150/month. 100% Immediate ROI Instant return on every employer dollar contributed. ## The Complete Platform to Benefit From Student Debt Whether you're tapping into employer matches, crowdfunding with friends and family, or building a competitive benefits package, Paidly brings it all together. [ ### Employer Match Support tax-free employer contributions up to $5,250 annually. Explore Employer Match ](/employer) [ ### Crowdfunding Let friends, family, and colleagues easily contribute to student loans or 529s. Explore Crowdfunding ](/friends-helping-friends) [ ### On-Demand Payments Route sign-on bonuses, referrals, or rewards directly to debt. Explore On-Demand Payments ](/on-demand) [ ### 529 Contributions Employers and community sponsors can route funds to intergenerational wealth accounts. Explore 529 Contributions ](/529-college-savings) [ ### PSLF Guidance Free tools and guidance to help navigate Public Service Loan Forgiveness. Explore PSLF Guidance ](/resources/pslf) ### Reporting Manage payments and pull automated reports for year-end. The Math ## Why Supplemental Payments Matter By routing funds directly to your principal, you bypass years of compounding interest. Adjust the slider to see the impact on a **$30,000 loan**. $30k$0Today10 Yrs With Paidly Standard Monthly Paidly Contribution+$100 $0$500/mo Standard Interest $9,967 Standard Payoff 10 Years New Interest $6,896 New Payoff Time 7 Yrs 2 Mos Saves $3,071 and 2 yrs 10 mos [Calculate exact savings](/calculators/student-loan-benefit-calculator) \*Data based on entered loan values. Assumes extra payments applied throughout repayment term. Individual savings will vary. ## One Platform, Multiple Solutions Choose how you want to tackle student debt: For Borrowers & Savers ### Take control of your debt. Rally your friends, family, and colleagues to help you pay down student loans or fund a 529 savings plan—one contribution at a time. Explore Individual Features For Employers & HR Teams ### Transform corporate benefits. Attract and retain top talent by offering up to $5,250 in tax-free student loan repayment benefits with zero administrative headache. Explore Employer Benefits Employer Benefits & ROI ### Transform Corporate Benefits into Financial Flexibility Deploy a high-impact financial wellness benefit that directly tackles your team's biggest stressor: student debt. By offering up to $5,250 in tax-free contributions per employee each year, you can dramatically improve employee retention and lower recruiting costs without heavy administrative overhead. Absolute employee privacy Tax-free up to $5,250/year Direct servicer routing Minimal administrative burden Reduce turnover up to 40% Save over $240k annually #### Company Dashboard Your command center. Easily manage both one-off on-demand payments and recurring student loan benefits from a single, intuitive interface. Track utilization effortlessly. [Explore Employer Solutions](/employer) Total Employees500 Average Annual Salary$68,000 Current Turnover Rate24% Estimated Paidly Adoption24% Annual Savings 40% improvement $258,509 From reduced turnover and hiring costs Trusted by HR leaders at fast-growing companies Used by 50+ teams to reduce turnover and hiring costs ### Help Jordan Crush Debt! New York University (NYU) '24 Contribute directly $25$50$100 Donate Securely Funds sent directly to loan servicer Community & Coworkers ### Take Control of Your Debt with Your Community Embrace "Loud Budgeting" and go public with your financial goals. Swap birthday drinks or office lunches for direct contributions toward your principal balance. Generate a personalized, secure link and let colleagues, friends, and family help you cross the finish line. #### Corporate Advocacy Incentive Standard crowdfunding is easy, but if your employer signs up to offer Paidly as a corporate benefit, your personal platform fees drop permanently to **0%**. [](https://apps.apple.com/us/app/paidly/id6740494436)[](https://play.google.com/store/apps/details?id=com.paidly.mobile) [Explore Individual Solutions](/employee) ## Real results. Real impact. Hear how Paidly is helping companies offer life-changing benefits and empowering individuals to crush their student debt. "We have been extremely pleased with Paidly as our partner in implementing and administering our Student Loan Repayment Benefit. The setup was seamless, with exceptionally easy implementation and employee enrollment. Most importantly, employee satisfaction has been outstanding, with participants consistently praising the impact of the program." \*Edited for brevity ### Brian Vanderberg HR Leader [](https://www.homewardhealth.com/?utm_source=meetpaidly.com&utm_medium=referral&utm_campaign=home_testimonials) "We asked Paidly for a custom report and had it right away. The data made the decision easy - we're increasing our contribution so our team can pay off their student loans faster. They've been a great partner." \*Edited for brevity ### Brooke Brault Head of People Operations [](https://perpay.com/?utm_source=meetpaidly.com&utm_medium=referral&utm_campaign=home_testimonials) "The student loan benefit through Paidly is a welcome addition to our benefit offerings. The implementation process was effortless and their website is easy to manage. The Paidly Team encourages customer ideas and feedback." \*Edited for brevity ### HR Team People Operations [](https://www.gwlisk.com/?utm_source=meetpaidly.com&utm_medium=referral&utm_campaign=home_testimonials) ## Ready to Eliminate Student Debt? Whether you're an employer building a modern benefits package or an individual ready to crowdfund your payoff, Paidly is your platform. [Get Started for Free](https://app.meetpaidly.com/get-started)[Talk to an Expert](/contact-sales) ## Have questions? Our support team is ready to help. Email us at [happiness@meetpaidly.com](mailto:happiness@meetpaidly.com) or call toll-free: [(888) 384-6010](tel:888-384-6010) [See all FAQs](/faqs) --- # Employer Student Loan Repayment ROI Calculator URL: https://meetpaidly.com/lp/return-on-investment Description: See how much you can save in turnover costs and taxes by offering a student loan repayment benefit with Paidly. The Math # Employer ROI Calculator See how much you can save in turnover costs and taxes by offering a student loan repayment benefit. ## Program Assumptions Number of Employees500 emp Avg. Annual Salary $ Monthly Benefit (Per Person) $ ## Turnover Assumptions Current Turnover Rate23.7% Cost of Turnover (% of Salary)35% Turnover Reduction w/ Benefit26% Membership Fee (Annual/Person) $ Net Profit ### $55,410 8.7% Return on Investment Retention Savings ### $647,010 30.8 Employees Retained Tax Efficiency ### $45,900 Annual FICA Savings ## Detailed ROI Breakdown Annual Projection Financial Metric WITH Paidly Without Benefit Tax Efficiency Annual Cost of Benefit (Gross) $600,000 \- Annual Membership Cost $37,500 $37,500 FICA Tax Savings $45,900 \- Net 'Hard' Cost to Company $591,600 $37,500 Retention Savings Cost to Replace One Employee $21,000 $21,000 Turnover Savings $647,010 (26% estimated reduction) $124,425 (5% estimated reduction) Final ROI Total Program Cost $637,500 $37,500 Total Financial Benefit $692,910 $124,425 Net Profit / (Cost) $55,410 $86,925 Tax Efficiency Annual Cost of Benefit (Gross) WITH[](/) $600,000 WITHOUT \- Annual Membership Cost WITH[](/) $37,500 WITHOUT $37,500 FICA Tax Savings WITH[](/) $45,900 WITHOUT \- Net 'Hard' Cost to Company WITH[](/) $591,600 WITHOUT $37,500 Retention Savings Cost to Replace One Employee WITH[](/) $21,000 WITHOUT $21,000 Turnover Savings WITH[](/) $647,010(26% estimated reduction) WITHOUT $124,425(5% estimated reduction) Final ROI Total Program Cost WITH[](/) $637,500 WITHOUT $37,500 Total Financial Benefit WITH[](/) $692,910 WITHOUT $124,425 NET PROFIT / (COST) With Paidly $55,410 Without Benefit $86,925 **Note on calculations:** Retention savings are based on Paidly's standard model assuming a 26% reduction in turnover for participants, versus a standard 5% improvement for membership alone. Net Profit is calculated as (Total Financial Benefit) - (Total Program Cost). Actual results may vary. ### Not ready for a monthly contribution? Contribute to your employees when you want, on your schedule. Checkout Paidly's On-Demand option. [Learn More](/on-demand) ### Want to start but have questions how? Let's talk, let one of our expert team members answer any of your questions and show you a demo. [Talk to an Expert](/contact-sales) ### Enhance your benefits Easily add a student loan repayment benefit in minutes. No sales call required to start. [Get Started Now](https://app.meetpaidly.com/get-started) Customize Assumptions ## Customize Assumptions ## Program Assumptions Number of Employees500 emp Avg. Annual Salary $ Monthly Benefit (Per Person) $ ## Turnover Assumptions Current Turnover Rate23.7% Cost of Turnover (% of Salary)35% Turnover Reduction w/ Benefit26% Membership Fee (Annual/Person) $ CancelDone --- # Download Paidly: Gift College & Pay Loans URL: https://meetpaidly.com/mobile-app Description: Support education on the go! Paidly app: Gift college savings, pay student loans easily. Secure, transparent, tax benefits. Download the Free App Now! # Help make dreams a reality. With Paidly, family and friends can gift directly to college savings or student loan repayment—because every dollar makes a difference. [Download the Free App Now](/app-download) If you collected $500 from donors $486 goes to your account\* **\*Terms and conditions apply**. Platform usage fee is waived through 05/15/2026. Third-party payment processing fees may still apply. Estimate reflects 90% of donors covering the donor transaction fee. Visit meetpaidly.com/friends-helping-friends for more details. Paidly requires a minimum of $25 in received donations by the 15th of each month to make a payment to your loans or savings. ## Simplify saving and loan repayment—one gift at a time. 1 Invite Support: Create a free profile and share your story with loved ones. 2 Receive Contributions: Family and friends can easily gift towards your college savings or loan repayment. 3 Track Progress: Every dollar goes directly to your account—securely and transparently. ## Every contribution counts towards brighter futures. ### Employer Matching Unlock powerful benefits from participating employers. ### Gifting Made Easy Loved ones can make meaningful contributions with just a few taps. ### Tax Advantages Contributions can be tax-friendly for both you and your supporters. ### Transparency You Can Trust Track every dollar in real-time. "Paidly has been a game-changerin helping me pay off my student loans! My friends and family generously contributed to my campaign." Stephen Agile Coach ## It takes a village... and we make it simple. ### For Parents Start saving for your child's education and invite others to contribute. ### For Recent Grads Chip away at loans faster with help from your network. ### For Supporters Give the gift of education, knowing your contribution makes a real impact. [Download the Free App Now](/app-download) [](https://play.google.com/store/apps/details?id=com.paidly.mobile) [](https://apps.apple.com/us/app/paidly/id6740494436) ## Your future is just a tap away with Paidly's smart tools for smarter savings. ✓ Secure Payments Bank-level encryption keeps your data safe. ✓ Customizable Profiles Share your unique story and funding goals. ✓ Instant Notifications Know exactly when a contribution is made. ✓ Analytics at Your Fingertips Track savings growth and loan repayment progress. --- # Paidly Newsletter URL: https://meetpaidly.com/newsletters Description: Stay updated with the latest insights on employer student loan repayment benefits, financial wellness tips, and industry trends by subscribing to Paidly's newsletter. #### Stay Ahead of the Curve Get the latest insights on student loan repayment, 529 contributions, and maximizing employer benefits delivered to your inbox. Join the list By submitting your email, you agree to receive emails from Paidly and acknowledge that you can unsubscribe at any time. --- # Flexible On-Demand Student Loan Repayment Benefit URL: https://meetpaidly.com/on-demand Description: Convert bonuses, PTO, and rewards into tax-free student debt relief. Paidly on-demand flexes to your needs with zero recurring commitments. # On-Demand Student Loan Repayment Convert sign-on bonuses, PTO, and quarterly rewards into flexible, tax-free student debt relief. Paidly on-demand flexes to your needs with zero recurring commitments required. [Get Started Today](https://app.meetpaidly.com/get-started)[Talk to an Expert](/contact-sales) New On-Demand Tax-Free Eligible Payment Reason Annual Tax-Free Catch-up Recipients (Batch) 24 Eligible SJ MR +22 Nursing Staff Bulk Selection Amount per Employee IRS Max Limit $ Fee Responsibility EmployerEmployee Employer (Per Employee) $5,407.50 Employee Receives $5,250.00 Transaction Fee: $157.50 (3% or $15 min) Schedule & Mark Ready ## Flexible Payments for Every Milestone Whether you are aiming to boost recruitment, reward loyalty, or offer creative perks, Paidly on-demand adapts to your unique compensation strategy. ### Sign-on Bonuses Attract top-tier talent by allowing new hires to direct their sign-on bonuses straight toward their highest-interest student loans. ### Referral Bonuses Incentivize your team to bring in great candidates. Reward successful referrals with a meaningful, tax-free dent in their debt. ### Quarterly & Annual Bonuses Turn standard performance reviews into life-changing moments. Convert traditional cash bonuses into strategic debt relief. ### PTO Conversion Give employees the flexibility to convert their unused Paid Time Off into a direct payment against their student loan balance. ### Rewards & Recognition Celebrate work anniversaries, 'Employee of the Month', or project completions with a reward that builds their financial future. ### Enhance your benefits Easily add on-demand student loan repayment in minutes. No sales call required to start. [Get Started Now](https://app.meetpaidly.com/get-started) Company Admin $24,500 12% this month Recent Payments View All Employee Portal Loan Balance Updated Employer Contribution Processed \-$1,500.00 Applied to Navient Loan #4928 ## Easy setup for you. Clear impact for them. You handle the quick and easy setup. We handle the heavy lifting: loan verification, secure payment processing directly to servicers, and compliance tracking. ### Company Dashboard Your command center. Easily manage both one-off on-demand payments and recurring student loan benefits from a single, intuitive interface. Track ROI and utilization effortlessly. ### Employee Experience Your employees get their own secure Paidly account and mobile-friendly dashboard to connect their loans, monitor payments, and watch their debt shrink in real-time. ## Simple, Per-User Transaction Pricing A single transaction fee is applied per employee, supporting variable payout amounts for every member of your team. You choose who covers the fee between the employer or the employee. $250 One-time setup fee Waived for existing customers already using Paidly's recurring benefit plans. 3% or $15 Per-employee fee Fully supports variable payout amounts. Flexible choice of who covers the transaction cost. Onboarding ## How to Get Started We know you're busy. With Paidly, it's 3 easy steps, and we take it from there. ### 1\. Create & Setup Sign up and enter basic company details to establish your secure administrative Paidly account in minutes. ### 2\. Schedule Payments Configure your Section 127 plan and easily schedule your on-demand, tax-free supplemental payments. ### 3\. Invite Team Send invites to a single employee or bulk-invite groups. They connect their loans, you click send. [Start Your Setup Now](https://app.meetpaidly.com/get-started) ## Enterprise-Grade Security Information security is our top priority. We employ rigorous, bank-level security measures to protect your corporate data and your employees' personal information. [Review our Security Standards](/security) SSL Encryption Database Encryption Internal Security Measures Industry-leading Infrastructure Vendors SOC2 Compliance Audit Logs ## Ready to Empower Your Team? Add a high-impact financial wellness tool to your total rewards. Join forward-thinking companies boosting retention and recruitment with tax-free student loan repayment. [Get Started for Free](https://app.meetpaidly.com/get-started) [Talk to an Expert](/contact-sales) ## Have questions? Our support team is ready to help. Email us at [happiness@meetpaidly.com](mailto:happiness@meetpaidly.com) or call toll-free: [(888) 384-6010](tel:888-384-6010) [See all FAQs](/faqs) --- # Partner Program: Student Loan Repayment Benefits URL: https://meetpaidly.com/partner Description: Partner with Paidly to deliver impactful Student Loan Repayment and 529 benefits. Explore opportunities for benefit professionals and brokers. Become a Partner # Give Your Clients and Customers More Your partnership with Paidly opens up new opportunities to help your clients with student loan assistance. Our user-friendly platform equips you with innovative solutions to make a difference. Connect with Our Team Partnership Benefits ## Turning Vision into a Shared Mission We empower you to deliver student loan benefits that employers and employees truly love, backed by our dedicated support team. ### Employer & Employee Approved Repayment plans designed to resonate at every level of the organization. ### On-Demand Bonus Payments Enable instant, impactful bonus routing directly to student debt. ### Dedicated Partnership Support Ongoing guidance to ensure your clients find perpetual success. Ecosystem ## Who We Work With - Affiliate and Referral Partners - Benefit Professionals - Accounting Professionals - Financial Advisors Paidly ensures that you maintain your independence as a third-party facilitator, respecting professional autonomy while providing standard-setting tools. ## Let's Build Success We're eager to learn more about your business and explore ways to team up. First Name \* Last Name \* Email Address \* Phone Number \* State \*Enter your stateAlabamaAlaskaArizonaArkansasCaliforniaColoradoConnecticutDelawareFloridaGeorgiaHawaiiIdahoIllinoisIndianaIowaKansasKentuckyLouisianaMaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew HampshireNew JerseyNew MexicoNew YorkNorth CarolinaNorth DakotaOhioOklahomaOregonPennsylvaniaRhode IslandSouth CarolinaSouth DakotaTennesseeTexasUtahVermontVirginiaWashingtonWest VirginiaWisconsinWyoming Firm Name \* Principal Role \*Enter your principal roleFinancial AdvisorAccountant or BookkeeperBenefits ProfessionalOther Number of Clients \*Enter the number of clients you have1-1011-5051+ Collaborate Now --- # Student Loan Consultation & Resolution URL: https://meetpaidly.com/partners/student-debt-consultation Description: Navigate your student debt with expert guidance. Find forgiveness options, resolve defaults, and build a winning strategy with one of our partners. # Navigate Your Student Debt With Expert Guidance. Don't tackle your student loans alone. We've partnered with experts to help you find forgiveness options, resolve defaults, and build a winning strategy before you apply your [employer's Paidly match](/employer). Get Your Free Loan Analysis ### A Simple, Guided Experience Answer a few questions to navigate complex student loan decisions with confidence. Forgiveness & PSLF Discover hidden programs and optimize IDR. Refinancing Options Secure lower interest rates and payments. In-School Loans Bridge the gap in your college funding. Stop Guessing Receive a personalized review so you know you're on the best plan. Don't Leave Money on the Table Understand all your options and move forward with confidence. In Partnership With [](https://start.myresolvent.com/paidly?utm_source=paidly&utm_medium=referral&utm_campaign=partner_spotlight&utm_content=sds_logo_header) Paidly partners with student loan experts to provide personalized guidance. We may earn a referral fee if you purchase a consultation or service through our links, at no extra cost to you. ## The Ultimate One-Two Punch for Student Debt. Making extra payments helps, but you also need the right payment plan. Paidly pairs professional student loan consultation with automated payment routing to help you save more. ### Professional Consultation Work with our partners to find forgiveness programs, lower your monthly minimums, or get out of default before making extra payments. ### Employer Contributions Use Paidly to route tax-free employer matches and your own automated payments directly toward your newly optimized loan strategy. ### Crowdfunding & Family Gifts Accelerate your payoff by securely routing gifts from family and friends straight to your servicer through [Paidly's crowdfunding features](/friends-helping-friends). ## Expert Student Loan Analysis at Your Fingertips. Find the right partner to help you evaluate your options for forgiveness, consolidation, and repayment programs. [ Student Debt Solutions takes the guesswork out of repayment. Their free analysis scans your profile against every federal program to find your fastest path to forgiveness or lower payments. Clear options. See exactly what you qualify for and how much you could save Comprehensive review. Identify your best options for forgiveness or cancellation Expert support. Get 1-on-1 guidance from certified loan counselors Free Checkup · Get results in about 15 minutes · Phone & Live Chat Support Available Get My Free Student Loan Checkup ](https://start.myresolvent.com/paidly?utm_source=paidly&utm_medium=referral&utm_campaign=partner_spotlight&utm_content=sds_cta) For Employers ## HR Leaders: Offer Comprehensive Financial Wellness. Providing funds through Paidly helps your team, but some employees need help untangling their debt first. Partner with Paidly and our network of consultation experts to offer a complete student loan benefit. [Learn About Employer Benefits](/employer) Next Steps ## Already Have Your Strategy Sorted? If you already know your repayment plan and just need help funding it, connect your loans to Paidly today to start routing tax-free employer contributions and community crowdfunding directly to your principal balance. [Log In to Paidly](https://app.meetpaidly.com/login)[Learn How Paidly Works](/) --- # Student Loan Refinancing & Origination Partners URL: https://meetpaidly.com/partners/student-loans Description: Supercharge your student loan payoff strategy. Combine lower refinance rates with your employer's Paidly contributions to become debt-free faster. # Fund Your Future With Confidence. Whether you're looking to lower your rate through refinancing or secure new funding for education, we've partnered with the best to help you succeed. Explore RefinanceExplore Origination In Partnership With Paidly partners with industry-leading lenders to bring you the best rates. We may earn a referral fee if you fund a loan through our links, at no extra cost to you. The Paidly Advantage ## Supercharge Your Payoff Strategy. Refinancing is only half the battle. By combining a lower refinanced interest rate with your employer's Paidly contributions going directly toward your principal, you create the ultimate debt-crushing strategy. The sooner you reach zero, the sooner you can pivot your employer's contributions into a 529 plan for your family's future. Standard Payoff10 Years With Refinance~8 Years Refinance + Paidly ~5 Years Student Loan Refinancing ## Lower Your Rate. Pay It Off Faster. Refinancing could help you secure a lower interest rate, reduce your monthly payment, or change your term length. Take control of your student loans with customized terms and historically low rates. Pick your exact monthly payment Skip one payment per year No origination, prepay, or late fees Checking your rate won't affect your credit score. [Check My Rate with Earnest](https://partner.earnest.com/referral/7e4bab93-58b1-419d-9989-0c3e61be70b5?utm_source=paidly&utm_medium=referral) An elevated refinance experience with personalized support from start to finish. Dedicated Personal Loan Advisor Fast, easy online application Flexible repayment terms Checking your rate won't affect your credit score. [Check My Rate with ELFI](https://www.elfi.com/paidly/?utm_source=paidly&utm_medium=affiliate&utm_content=) * * * New Student Loans ## Bridge the Gap in College Funding. When federal loans, scholarships, and grants aren't enough, private student loans can help cover the rest. Customizable private student loans with competitive rates and flexible repayment options for your education. 9-month grace period after graduation No origination, prepay, or late fees Cover up to 100% of certified costs Checking your rate won't affect your credit score. [Check My Rate with Earnest](https://partner.earnest.com/referral/64e79370-6e60-43d3-b9d8-0d4113dc3f1b?utm_source=paidly&utm_medium=referral) Explore competitive rates for undergraduate, graduate, and parent loans with expert guidance. Competitive fixed and variable rates Multiple repayment options Award-winning customer service Checking your rate won't affect your credit score. [Check My Rate with ELFI](https://www.elfi.com/paidly-is/?utm_source=paidly-is&utm_medium=affiliate&utm_content=) Next Steps ## Already Have Your Loans Sorted? Now let your employer help you pay them off. Connect your newly refinanced or originated student loan to your Paidly account to start routing tax-free employer contributions directly to your principal. [Log In to Paidly](https://app.meetpaidly.com/login)[Learn How Paidly Works](/) --- # Pricing: Student Loan Benefits, 529s & Crowdfunding URL: https://meetpaidly.com/pricing Description: Transparent pricing for Employer Student Loan Repayment and 529 Benefit plans, plus community crowdfunding for students. No contracts required. # Education Assistance for the Modern Workforce Custom enterprise solutions? Large team deployment? Let's build a plan tailored to your organization's specific needs. [Talk to an Expert](/contact-sales) ## Transparent, Simple Membership Choose the plan that fits your team. Simple, transparent pricing. MonthlyToggle billing cycleYearlySave 37% ### Growth Membership Perfect for growing companies wanting to offer immediate student loan relief benefits. $75user/year $45 savings per user annually Start Your Membership Secure ACH billing. Cancel anytime. #### What's Included: - Unlimited employee accounts - Fee-free recurring payments - Real-time contribution tracking - Employee Dashboard - Priority email support One-Time Platform Setup $250single charge Applied to first recurring contribution only. Optional: On-Demand Payments 3%transaction fee Applies only to one-off, ad-hoc payments. Recurring payments are included. ### For Individuals & Families #### Want to Tackle Your Own Debt Right Now? You don't need your employer to get started. Create a free personal account to start crowdfunding your student loans or 529 plan with friends and family today. \* Free to sign up. Standard 2.9% + $0.30 transaction fees apply to contributions. [Start Crowdfunding Free](https://app.meetpaidly.com/get-started) ## Real results. Real impact. Hear how Paidly is helping companies offer life-changing benefits and empowering individuals to crush their student debt. "We have been extremely pleased with Paidly as our partner in implementing and administering our Student Loan Repayment Benefit. The setup was seamless, with exceptionally easy implementation and employee enrollment. Most importantly, employee satisfaction has been outstanding, with participants consistently praising the impact of the program." \*Edited for brevity ### Brian Vanderberg HR Leader [](https://www.homewardhealth.com/?utm_source=meetpaidly.com&utm_medium=referral&utm_campaign=home_testimonials) "We asked Paidly for a custom report and had it right away. The data made the decision easy - we're increasing our contribution so our team can pay off their student loans faster. They've been a great partner." \*Edited for brevity ### Brooke Brault Head of People Operations [](https://perpay.com/?utm_source=meetpaidly.com&utm_medium=referral&utm_campaign=home_testimonials) "The student loan benefit through Paidly is a welcome addition to our benefit offerings. The implementation process was effortless and their website is easy to manage. The Paidly Team encourages customer ideas and feedback." \*Edited for brevity ### HR Team People Operations [](https://www.gwlisk.com/?utm_source=meetpaidly.com&utm_medium=referral&utm_campaign=home_testimonials) ## Have questions? Our support team is ready to help. Email us at [happiness@meetpaidly.com](mailto:happiness@meetpaidly.com) or call toll-free: [(888) 384-6010](tel:888-384-6010) [See all FAQs](/faqs) --- # Privacy Policy & Data Protection URL: https://meetpaidly.com/privacy-policy Description: Review Paidly's privacy policy. Learn how we securely handle, protect, and use your personal information when using our benefit platform. # Privacy Policy. Last Update: March 26, 2025 ### Privacy Policy This Privacy Policy describes how Paidly Inc ("MeetPaidly") collects and uses the Personal Information (defined below) you provide on any site owned and operated by MeetPaidly and including, but not limited to, any websites serving from the MeetPaidly.com domain (the "Website"). This privacy policy describes the choices available to you regarding our use of your Personal Information and how you can access and update your information. MeetPaidly follows common industry practices in automatically gathering information about your computer such as your IP address, browser type, referring/exit pages, and operating system. This Privacy Policy is in addition to other terms and conditions contained in the agreements, rules, and policies of this Website for use of the Website and MeetPaidly's services. ### Personal Information In this Privacy Policy, we use the term "Personal Information" to describe information that can be associated with an individual and can be used to identify that individual. We do not consider Personal Information to include information that has been anonymized or aggregated so that it does not identify an individual. You represent that if you give us Personal Information on behalf of someone else, the person providing the Personal Information to you gave you consent to provide their Personal Information to MeetPaidly. If someone else gives us Personal Information on your behalf, you represent that you gave that person consent to provide your Personal Information to MeetPaidly. This Privacy Policy applies when you: - Visit or utilize a Website on which this Privacy Policy is posted; - Subscribe to MeetPaidly services; or - Interact with MeetPaidly off-line or online. ### Collection and Use of Personal Information In order to provide services through our Website we may collect the following Personal Information from you: - Contact information such as name, email address, mailing address, and phone number - If applicable, student Loan information such as loan servicers and account numbers - Financial information such as bank or brokerage account numbers, and types of investments - Unique identifiers such as user name, account number, and password - Geolocation information, depending on the specific MeetPaidly services you use - Other information that may be required under federal or certain state laws We may also collect the following information from you: - Demographic information such as education, gender, communication choices, and user preferences - Employer information - Adjusted gross income information - Credit score - self-reported - Interest in and use of advertising and marketing in conjunction with use of the services We use this information to: - Provide services through our Website - Send you requested product updates or service information - Respond to customer service requests - Respond to your questions and concerns - Improve our Website - Support direct marketing efforts for our services - Conduct research and analysis - Display content based upon your interests - Support your ability to Opt-Out We communicate with you through email and notices posted on our Website. Examples of these communications include but are not limited to: account and relationship details; communications payment history for payments made to your designated payees; and marketing emails. You may choose to stop receiving our newsletter or marketing emails by following the "unsubscribe" instructions included in these emails, or you can contact us at [happiness@meetpaidly.com](mailto:happiness@meetpaidly.com). Please note that you may not opt out of transactional messages or other mandatory service communications. If you provide us personal information about another person (e.g., your spouse or child), or if another person provides us your personal information, we will only use that information for the specific reason for which it was provided to us. ### Information Sharing We do not sell your Personal Information or share your individual student loan account number, balance, or due date with your employer or any third party. We may share your Personal Information with third parties only in the ways that are described in this Privacy Policy. We may provide your Personal Information to third parties that provide services to help us with our business. These third parties are authorized to use your Personal Information only as necessary to provide these services to us and have access to the Personal Information only as necessary to perform their functions and to the extent permitted by law. However, in some cases, you may choose an optional service provided by a third party, in which case such optional services shall be governed by that third party provider's separate privacy policy and any applicable terms of use for such optional services. We may also disclose your Personal Information as required by law such as to comply with a subpoena or similar legal process when we believe in good faith that disclosure is necessary to protect our rights, protect your safety or the safety of others, investigate fraud, or respond to a government request. We may share or sell your Personal Information in connection with a merger, financing, acquisition, dissolution transaction, bankruptcy or proceeding involving sale, transfer, divestiture of all or a portion of our business or assets. If another entity acquires our business or assets, that entity will have the Personal Information collected by us and will assume the rights and obligations regarding your information as allowed by this privacy policy. ### Personal Information Security The security of your Personal Information is important to us. When you enter personal or sensitive information on our Website, we encrypt the transmission of that information using secure socket layer technology (SSL). We follow generally accepted best practices to protect the information submitted to us, both during transmission and once we receive it. No method of transmission over the Internet, or method of electronic storage, is 100% secure, however. Therefore, we cannot guarantee its absolute security. We will retain your information for as long as your account is active or as needed to provide you services. If you wish to cancel your account or request that we no longer use your information to provide you services, contact us at [happiness@meetpaidly.com](mailto:happiness@meetpaidly.com). We will retain and use your information as necessary to comply with our legal obligations, resolve disputes, and enforce our agreements. ### Cookies and Other Tracking Technologies We may use cookies, for example, to keep track of your preferences and profile information. Cookies are also used to collect general usage and volume statistical information that does not include Personal Information. We use another company to place cookies on your computer to collect non-personally identifiable information to compile aggregated statistics for us about visitors to our Website. We do not respond to web browser "do not track" signals at this time. We await the result of work by the policy community and industry to determine when such a response is appropriate and what form it should take. ### Links to Other Websites Our Website may include links to other websites whose privacy practices may differ from those of MeetPaidly. If you submit Personal Information to any of those other websites, your information is governed by the separate privacy statements of such other websites. We encourage you to carefully read the privacy statement of any website you visit. ### Security We have taken security measures, consistent with international information practices, to protect your Personal Information. These measures include technical and procedural steps to protect your data from misuse, unauthorized access or disclosure, loss, alteration, or destruction. ### California Residents California law permits residents of California to request certain details about how their information is shared with third parties for direct marketing purposes. We do not share your Personal Information with third parties for such third parties' direct marketing purposes. ### Children's Online Privacy MeetPaidly is not intended to be used by anyone under the age of 18 and, as such, MeetPaidly does not knowingly collect Personal Information from anyone under the age of 18. If you are under the age of 18, please refrain from using the Website and do not submit any Personal Information to MeetPaidly or use our services. If a parent or guardian becomes aware that his or her child under the age of 18 has provided us with Personal Information without the parent or guardian's consent, he or she should contact us at [happiness@meetpaidly.com](mailto:happiness@meetpaidly.com) and we will delete such information from our files. ### Modifications We may update this Privacy Policy to reflect changes to our information collection and use practices. If we make any material changes we will notify you by email (sent to the e-mail address specified in your MeetPaidly account) or by means of a notice on this Website prior to the change becoming effective. We encourage you to periodically review this page for the latest information on our privacy practices. ### Accessing and Updating Personal Information; MeetPaidly Contact Information When you use one or more of our services, we make good faith efforts to provide you with access to your Personal Information and either to correct this data if it is inaccurate, or to delete such data at your request if it is not otherwise required to be retained by law or for legitimate business purposes. We ask individual subscribers / users to identify themselves and the information requested to be accessed, corrected or removed before processing such requests, and we may decline to process requests that are unreasonably repetitive or systematic, require disproportionate technical effort, jeopardize the privacy of others, or would be extremely impractical (for instance, requests concerning information residing on backup drives), or for which access is not otherwise required. Before we provide access to any data, including Personal Information, or make any changes to it we will ask you to verify your identity or provide other details before we are able to provide you with any information, correct any inaccuracies, or delete any information. We may keep a copy of information for our records. In any case where we provide information access and correction, we perform this service free of charge, except if doing so would require a disproportionate effort. Your right to review, update, correct, and delete your Personal Information may be limited, subject to the law of your jurisdiction of residence: (i) if your requests are abusive or unreasonably excessive; (ii) where the rights or safety of another person or persons would be encroached upon; or (iii) if the information or material you request relates to existing or anticipated legal proceedings between you and us, or providing access to you would prejudice negotiations between us or an investigation of possible unlawful activity. Your right to review, update, correct and delete your information is also subject to our records retention policies and applicable law, including any statutory retention requirements. ### Contact Information You can contact MeetPaidly about this Privacy Policy in writing or email us at the addresses below: Email: [happiness@meetpaidly.com](mailto:happiness@meetpaidly.com) Mail Address: Paidly Inc, 6 N. Main Street Suite 205 Fairport, New York 14450 --- # Find 529 Plans by State URL: https://meetpaidly.com/resources/529-by-state-information Description: Locate your state's 529 plan and enjoy both federal and potential state tax benefits. Select your state to learn more! # Find Your State's 529 Plan ## Explore State-Specific 529 Education Savings Plans Find the best 529 plan for your state and secure your child's educational future. Access detailed information and direct links to state benefits. ## Find Your State's 529 Plan Select your state from the dropdown menu below to view detailed information on available 529 plans. Discover the best options to maximize your educational savings. All statesAlabamaAlaskaArizonaArkansasCaliforniaColoradoConnecticutDelawareDistrict of ColumbiaFloridaGeorgiaHawaiiIdahoIllinoisIndianaIowaKansasKentuckyLouisianaMaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew HampshireNew JerseyNew MexicoNew YorkNorth CarolinaNorth DakotaOhioOklahomaOregonPennsylvaniaRhode IslandSouth CarolinaSouth DakotaTennesseeTexasUtahVermontVirginiaWashingtonWest VirginiaWisconsinWyoming State Plan Name Tax benefit for in-state contributors? In-State Tax Benefit? Min. Contribution Min. Contribution Alabama [CollegeCounts](https://www.collegecounts529.com/) $0 Alaska [Alaska 529](https://www.alaska529plan.com/) No $25 Arizona [AZ529](https://az529.gov/) $15 or less Arkansas [Arkansas Brighter Future 529](https://brighterfuturedirect529.com/) $25 California [ScholarShare 529](https://www.scholarshare529.com/) No $0 Colorado [CollegeInvest](https://www.collegeinvest.org/529-savings-plans/direct-portfolio/) $0-$25 depending on plan Connecticut [Connecticut Higher Education Trust (CHET)](https://www.aboutchet.com/) $0 Delaware [DE529](https://www.fidelity.com/delaware-529/index.shtml) $0 District of Columbia [DC College Savings Plan](https://www.dccollegesavings.com/) $25 Florida [Florida 529 Savings Plan](https://www.myfloridaprepaid.com/savings-plan/) No $0 12...6Next --- # 5 Reasons You Should Consider Student Loan Benefits URL: https://meetpaidly.com/resources/beyond-traditional-benefits Description: Discover 5 essential resources for offering student loan benefits to your employees and enhance your workplace's competitive edge. Download our infographic. # Beyond Traditional Benefits ## 5 Reasons You Should Consider Student Loan Benefits 45% of employees consider repayment assistance the most critical employee benefit, and 31% of businesses plan to offer student loan benefits in the coming years. In a highly competitive labor market, student loan repayment benefits could be a way to help you stand out. Here are 5 resources you should consider if you're thinking about offering this type of assistance to your employees. ## Stay Ahead of The Trends First name \* Last name \* Job title \* Company name \* Company email \* I agree to receive marketing communications, newsletters and promotional offers from Paidly. \* Get Infographic ## About Paidly Paidly is an easy-to-use platform that allows employers to set up a student loan benefit program in just minutes. Our platform enables employers to create a competitive advantage, enrich their employees through better engagement and productivity, and increase loyalty. ## Set Your Business Apart ### Employee Loyalty Create a reason why your firm is a great place to work ### Financial Wellness Prioritize employee preparedness for retirement ### Quality of Life Improve beyond standard employee benefits [Discover How Paidly Helps](/) ## Partner with Paidly ### Who We Work With - Affiliate and referral partners - Benefit Professionals - Accounting professionals - Financial advisors ### The Benefits of Working with Paidly - Repayment plans that employees and employer love - On-demand payments for bonuses - Dedicated client happiness [Become a Partner](/partner) ## Real results. Real impact. Hear how Paidly is helping companies offer life-changing benefits and empowering individuals to crush their student debt. "We have been extremely pleased with Paidly as our partner in implementing and administering our Student Loan Repayment Benefit. The setup was seamless, with exceptionally easy implementation and employee enrollment. Most importantly, employee satisfaction has been outstanding, with participants consistently praising the impact of the program." \*Edited for brevity ### Brian Vanderberg HR Leader [](https://www.homewardhealth.com/?utm_source=meetpaidly.com&utm_medium=referral&utm_campaign=home_testimonials) "We asked Paidly for a custom report and had it right away. The data made the decision easy - we're increasing our contribution so our team can pay off their student loans faster. They've been a great partner." \*Edited for brevity ### Brooke Brault Head of People Operations [](https://perpay.com/?utm_source=meetpaidly.com&utm_medium=referral&utm_campaign=home_testimonials) "The student loan benefit through Paidly is a welcome addition to our benefit offerings. The implementation process was effortless and their website is easy to manage. The Paidly Team encourages customer ideas and feedback." \*Edited for brevity ### HR Team People Operations [](https://www.gwlisk.com/?utm_source=meetpaidly.com&utm_medium=referral&utm_campaign=home_testimonials) ## Let's Talk Repayment Benefits Create a competitive advantage with a Paidly Student Loan Benefit (SLB) plan in minutes to attract top talent, enrich your employees, improve engagement and productivity, and increase loyalty. [Get Started Today](/contact-sales) --- # Start Student Loan Benefits with Employer's Cheat Sheet Guide URL: https://meetpaidly.com/resources/cheat-sheet-getting-started-with-student-loan-benefits Description: Get started with our cheat sheet on Employee Student Loan Repayment Benefits to enhance your benefits package and attract top talent effectively. # Getting Started with Employee Student Loan Repayment Benefits ## A Quick Overview of Where to Begin Student loan debt is on the rise, and it impacts all aspects of employees' lives, from mental well-being to financial stability. Offering student loan repayment benefits is a great way to help retain employees and recruit talent. Interested in student loan repayment benefits but don't know where to start? Here's a cheat sheet that can help you identify the best places to begin working through how to add them to your current benefits package. ## Discover Where to Start with Student Loan Repayment Benefits First name \* Last name \* Job title \* Company name \* Company email \* I agree to receive marketing communications, newsletters and promotional offers from Paidly. \* Get Cheat Sheet ## About Paidly Paidly is an easy-to-use platform that allows employers to set up a student loan benefit program in just minutes. Our platform enables employers to create a competitive advantage, enrich their employees through better engagement and productivity, and increase loyalty. ## Set Your Business Apart ### Employee Loyalty Create a reason why your firm is a great place to work ### Financial Wellness Prioritize employee preparedness for retirement ### Quality of Life Improve beyond standard employee benefits [Discover How Paidly Helps](/) ## Partner with Paidly ### Who We Work With - Affiliate and referral partners - Benefit Professionals - Accounting professionals - Financial advisors ### The Benefits of Working with Paidly - Repayment plans that employees and employer love - On-demand payments for bonuses - Dedicated client happiness [Become a Partner](/partner) ## Real results. Real impact. Hear how Paidly is helping companies offer life-changing benefits and empowering individuals to crush their student debt. "We have been extremely pleased with Paidly as our partner in implementing and administering our Student Loan Repayment Benefit. The setup was seamless, with exceptionally easy implementation and employee enrollment. Most importantly, employee satisfaction has been outstanding, with participants consistently praising the impact of the program." \*Edited for brevity ### Brian Vanderberg HR Leader [](https://www.homewardhealth.com/?utm_source=meetpaidly.com&utm_medium=referral&utm_campaign=home_testimonials) "We asked Paidly for a custom report and had it right away. The data made the decision easy - we're increasing our contribution so our team can pay off their student loans faster. They've been a great partner." \*Edited for brevity ### Brooke Brault Head of People Operations [](https://perpay.com/?utm_source=meetpaidly.com&utm_medium=referral&utm_campaign=home_testimonials) "The student loan benefit through Paidly is a welcome addition to our benefit offerings. The implementation process was effortless and their website is easy to manage. The Paidly Team encourages customer ideas and feedback." \*Edited for brevity ### HR Team People Operations [](https://www.gwlisk.com/?utm_source=meetpaidly.com&utm_medium=referral&utm_campaign=home_testimonials) ## Let's Talk Repayment Benefits Create a competitive advantage with a Paidly Student Loan Benefit (SLB) plan in minutes to attract top talent, enrich your employees, improve engagement and productivity, and increase loyalty. [Get Started Today](/contact-sales) --- # HRs Secret Weapon URL: https://meetpaidly.com/resources/hr-secret-weapon Description: Discover how student loan repayment benefits can boost your talent acquisition. Download our eBook to supercharge your HR strategy and outpace competitors. # HR's Secret Weapon ## Recruit more Talent with Student Loan Repayment Benefits Trouble finding talent? You're not alone. Talent acquisition is competitive but there is a way to squeeze out your competition. Student loan repayment benefits are becoming more and more common. For good reason. They are an excellent way to attract potential candidates and retain your current employees. Download this eBook to find out how offering student loan benefits can supercharge your recruitment efforts. ## Discover the Benefits of Student Loan Benefits. First name \* Last name \* Job title \* Company name \* Company email \* I agree to receive marketing communications, newsletters and promotional offers from Paidly. \* Get eBook ## About Paidly Paidly is an easy-to-use platform that allows employers to set up a student loan benefit program in just minutes. Our platform enables employers to create a competitive advantage, enrich their employees through better engagement and productivity, and increase loyalty. ## Set Your Business Apart ### Employee Loyalty Create a reason why your firm is a great place to work ### Financial Wellness Prioritize employee preparedness for retirement ### Quality of Life Improve beyond standard employee benefits [Discover How Paidly Helps](/) ## Partner with Paidly ### Who We Work With - Affiliate and referral partners - Benefit Professionals - Accounting professionals - Financial advisors ### The Benefits of Working with Paidly - Repayment plans that employees and employer love - On-demand payments for bonuses - Dedicated client happiness [Become a Partner](/partner) ## Real results. Real impact. Hear how Paidly is helping companies offer life-changing benefits and empowering individuals to crush their student debt. "We have been extremely pleased with Paidly as our partner in implementing and administering our Student Loan Repayment Benefit. The setup was seamless, with exceptionally easy implementation and employee enrollment. Most importantly, employee satisfaction has been outstanding, with participants consistently praising the impact of the program." \*Edited for brevity ### Brian Vanderberg HR Leader [](https://www.homewardhealth.com/?utm_source=meetpaidly.com&utm_medium=referral&utm_campaign=home_testimonials) "We asked Paidly for a custom report and had it right away. The data made the decision easy - we're increasing our contribution so our team can pay off their student loans faster. They've been a great partner." \*Edited for brevity ### Brooke Brault Head of People Operations [](https://perpay.com/?utm_source=meetpaidly.com&utm_medium=referral&utm_campaign=home_testimonials) "The student loan benefit through Paidly is a welcome addition to our benefit offerings. The implementation process was effortless and their website is easy to manage. The Paidly Team encourages customer ideas and feedback." \*Edited for brevity ### HR Team People Operations [](https://www.gwlisk.com/?utm_source=meetpaidly.com&utm_medium=referral&utm_campaign=home_testimonials) ## Let's Talk Repayment Benefits Create a competitive advantage with a Paidly Student Loan Benefit (SLB) plan in minutes to attract top talent, enrich your employees, improve engagement and productivity, and increase loyalty. [Get Started Today](/contact-sales) --- # Public Service Loan Forgiveness (PSLF) Guide URL: https://meetpaidly.com/resources/pslf Description: The ultimate free guide to Public Service Loan Forgiveness (PSLF). Learn to verify employment, check loans, and submit forms to get loans forgiven. # The Insider's Guide to PSLF Stop paying for PSLF help. Others charge up to $600 a year for this information. We provide it for free because the path to loan forgiveness is costly enough—you shouldn't have to pay to understand it. [Get the Free Guide ](https://cdn.meetpaidly.com/assets/pdf/Paidly-PSLF-cheatsheet.pdf) ## PSLF is Easier Than You Think Don't pay a service to fill out the free government form. The Department of Education's PSLF Help Tool is fully digital, allows e-signatures, and takes about 20 minutes to complete. [Go to StudentAid.gov/pslf](https://studentaid.gov/pslf/) Link goes directly to the .gov website Free Official Gov Tool Process ## The 3-Step Cheatsheet We’ve simplified the process into three easy steps. 1 ### Verify Your Employment You must work full-time for a government organization or 501(c)(3) non-profit. Pro Tip It's not about your job title (e.g., “Nurse”) it's about who pays you (e.g., “Non-Profit Hospital” vs. “Private Practice”). Action Use the [PSLF employer search](https://studentaid.gov/pslf/employer-search) to find out if your employer is qualified. 2 ### Check Your Loans You must have a federal Direct loan on an IDR or 10-year Standard plan. Warning! If you are on the Standard repayment plan, you might be wasting months of payments. Action Put your federal Direct loans on an eligible IDR plan. 3 ### Submit the Form You'll need to gather employer info and get their signature. Pro Tip Check your W-2 for employer EIN, official name, and address. New Way: E-sign. Action Use the [PSLF Help Tool](https://studentaid.gov/pslf/) to send the form directly to your HR department. ## PSLF requires 120 payments. You don't have to pay them yourself. PSLF takes 10 years of repayment. Even on an income-driven plan, that monthly bill eats into your paycheck. Did you know your employer can make those payments for you? #### IRS Section 127 Under the tax code, employers can contribute up to $5,250 tax-free toward your student loans. ### The Standard Way $200 Monthly Payment - Counts toward 120 payments - Paid by you - Money lost to student loans Recommended ### The Paidly Way $0 Cost to You - Counts toward 120 payments - Paid by your employer - Money saved for whatever you want Paidly manages the entire payment process for your company. ## Want your employer to cover your PSLF payments? We'll send them an info package on how offering student loan benefits helps both their workforce and their bottom line. [Encourage Employer](https://r3x33.share.hsforms.com/2f7Df81WfTkalEEOXE_T4Ag) 100% Anonymous. We never share your info. --- # Offer Tax-Free Employee Benefits with Section 127 Plans URL: https://meetpaidly.com/resources/section-127-plan-template Description: Provide tax-free educational benefits to employees with a Section 127 plan. Our experts help you create a compliant program tailored to your needs. Learn more today. # Maximize Your Employee Benefits with Section 127 Plans ## Get Expert Guidance to Create a Tailored Solution Enhance your employee benefits package by implementing a Section 127 educational assistance plan. Our team of experts will guide you through the process, helping you: - Attract and retain top talent - Boost employee satisfaction - Promote a culture of continuous learning - Maximize tax benefits ## Talk to our experts and create your plan today First name \* Last name \* Job title \* Company name \* Company email \* I agree to receive marketing communications, newsletters and promotional offers from Paidly. \* Talk to an Expert $5,250 Tax-free per employee annually As long as the program meets certain requirements.1 ## Provide Tax-Free Student Loan Repayment Benefits A Section 127 educational assistance program can provide [tax-free student loan repayment benefits of up to $5,250 per employee annually](/tax-free), as long as the program meets certain requirements such as being documented in writing and not discriminating in favor of highly compensated employees. [Learn more →](/blog/understanding-section-127-plan) ## Perfect Pairing with Employer 529 Contribution Plans Pairing 529 plans with student loan benefits creates a powerful package supporting employees' past and future education costs. Show your commitment to their financial well-being and growth with this innovative solution. [Learn more →](/529-college-savings) ## Set Your Business Apart ### Employee Loyalty Create a reason why your firm is a great place to work ### Financial Wellness Prioritize employee preparedness for retirement ### Quality of Life Improve beyond standard employee benefits [Discover How Paidly Helps](/employer) ## Partner with Paidly ### Who We Work With - Employers - Affiliate and referral partners - Benefit Professionals - Accounting professionals - Financial advisors ### The Benefits of Working with Paidly - Repayment plans that employees and employer love - On-demand payments for bonuses - Dedicated client happiness - Seamless integration - Direct Payments [Become a Partner](/partner) ## Real results. Real impact. Hear how Paidly is helping companies offer life-changing benefits and empowering individuals to crush their student debt. "We have been extremely pleased with Paidly as our partner in implementing and administering our Student Loan Repayment Benefit. The setup was seamless, with exceptionally easy implementation and employee enrollment. Most importantly, employee satisfaction has been outstanding, with participants consistently praising the impact of the program." \*Edited for brevity ### Brian Vanderberg HR Leader [](https://www.homewardhealth.com/?utm_source=meetpaidly.com&utm_medium=referral&utm_campaign=home_testimonials) "We asked Paidly for a custom report and had it right away. The data made the decision easy - we're increasing our contribution so our team can pay off their student loans faster. They've been a great partner." \*Edited for brevity ### Brooke Brault Head of People Operations [](https://perpay.com/?utm_source=meetpaidly.com&utm_medium=referral&utm_campaign=home_testimonials) "The student loan benefit through Paidly is a welcome addition to our benefit offerings. The implementation process was effortless and their website is easy to manage. The Paidly Team encourages customer ideas and feedback." \*Edited for brevity ### HR Team People Operations [](https://www.gwlisk.com/?utm_source=meetpaidly.com&utm_medium=referral&utm_campaign=home_testimonials) ## Let's Talk Repayment Benefits Create a competitive advantage with a Paidly Student Loan Benefit (SLB) plan in minutes to attract top talent, enrich your employees, improve engagement and productivity, and increase loyalty. [Get Started Today](/contact-sales) 1. Internal Revenue Service. (2024, June). $5,250 per calendar year [https://www.irs.gov/newsroom/frequently-asked-questions-about-educational-assistance-programs](https://www.irs.gov/newsroom/frequently-asked-questions-about-educational-assistance-programs) --- # Security URL: https://meetpaidly.com/security Description: Paidly protects you and your employees with state-of-the-art security measures. All sensitive personal information is fully encrypted and securely stored. # We're Serious About Security At Paidly, information security is a top priority for us. We use numerous forms of security to protect your data and personal information. ## SSL Encryption Our SSL Encryption establishes a secure connection between your browser and our website. All data in transit are SSL/TLS encrypted. SSL secures and prevents third parties from intercepting and reading your personal information; only we can decode the encryption. This technology requires a modern web browser. ## Database Encryption Data at rest is encrypted using AES\_256. All Data in transit are SSL/TLS encrypted. Very high granularity is available to protect more specific information: user accounts, specific identifiable data, and even values of specific fields can be encrypted separately. ## Internal Security Measures No Paidly employee will ever see your customer data unless required to do so for support reasons. We maintain an audit trail of admin access to customer data to prevent misuse. ## Industry-Leading Infrastructure Paidly is built on the same cloud infrastructure that is relied upon by other leading technology companies, government organizations, and financial institutions. ## SOC 2 Compliance All of Paidly's vendors are SOC 2 compliant. SOC 2 is an auditing procedure that ensures your service providers securely manage your data to protect the interests of your organization and the privacy of its clients for security-conscious businesses. ## Additional Questions About Our Security? [security@meetpaidly.com](mailto:security@meetpaidly.com) ## Are you ready to use Paidly to pay down student loan debt? Whether you're an employer building a modern benefits package or an individual ready to crowdfund your payoff, Paidly is your platform. [Get Started for Free](https://app.meetpaidly.com/get-started)[Talk to an Expert](/contact-sales) --- # Subscriber Terms & Conditions URL: https://meetpaidly.com/subscriber-terms-and-conditions Description: Read the full Subscriber Terms and Conditions for the Paidly platform. This document outlines the legally binding contract for our services. # Subscriber Terms and Conditions Last Update: March 26, 2025 ## Subscriber Terms and Conditions ### Legal Agreement DO NOT ACCEPT THESE SUBSCRIBER TERMS AND CONDITIONS, WHICH CONSTITUTE A LEGALLY BINDING CONTRACT, BEFORE YOU READ THE ENTIRE DOCUMENT. ### Services Paidly Inc ("MeetPaidly") provides administrative services ("Services") through our website at meetpaidly.com ("Website") including facilitating and processing payment contributions ("Benefits") by employers ("Sponsors") that offer such Benefits to its employees. Employees choosing to enroll in Benefits offered by a Sponsor may access and use MeetPaidly's information and Services. To access MeetPaidly information and Services, the individual employee must become a subscriber ("Subscriber") by creating a MeetPaidly Subscriber Account ("Subscriber Account") and providing the minimum required information including an active email address for communications with MeetPaidly and, if applicable, the most recent statement for the loan to which MeetPaidly will apply your Sponsor's payments. MeetPaidly's Sponsors may offer payment contribution benefits ("Benefits Plan") to its employees at its sole discretion. Subscribers can only receive contributions if they are sponsored by a Sponsor through a Benefits Plan. MEETPAIDLY HAS NO RESPONSIBILITY OR LIABILITY TO SUBSCRIBERS FOR ANY BENEFITS PLAN PROVIDED BY SPONSORS. SPONSORS MAY MODIFY OR CEASE OFFERING PROGRAMS IN EACH SPONSOR'S SOLE DISCRETION. ### Benefits Program Eligibility & Enrollment By enrolling in a Benefits Plan offered by your Sponsor, you represent and warrant to MeetPaidly that: - You are an active Subscriber, approved and eligible to participate in your Sponsor's Benefits Plan; - You are an individual person at least 18 years of age and able to form legally binding contracts under applicable law; - All information provided by you to MeetPaidly is correct and current, and you will update such information with MeetPaidly as soon as it changes; - You will comply with applicable laws and regulations; - You will not use the Services in connection with any fraudulent or illegal activity or in any manner which interferes with the operation of MeetPaidly; and - You will use the Services in compliance with these Subscriber Terms and Conditions You may only use the Services for yourself or, if applicable, anyone permitted by your Sponsor's Benefits Plan. MeetPaidly reserves the right to impose additional eligibility requirements in the future and/or to refuse to provide our Services to anyone. ### Payee Information Subscribers are responsible for ensuring the accuracy of the information provided to MeetPaidly via the Website about each designated recipient of the Sponsor contribution payments ("Payee"). Specific information you must provide includes Payee name, payment address, account number, and any other applicable payment information necessary to enable MeetPaidly to perform its Services. Changes to Payee information must be provided at least thirty (30) days in advance in order to take effect for any subsequent payments. MeetPaidly is not responsible for fees, penalties, or other charges associated with rejected or delayed processing of payments arising from changes to Payee's information. To designate a Payee, you may be asked to provide your online credentials for the Payee. ### Change in Eligibility for Payments In the event of a change in your Benefits Plan eligibility, as determined by your Sponsor (e.g., Subscriber's employment is terminated, or transferred to a role not eligible for the Benefits Plan), Services will cancel automatically on the date identified by your Sponsor. If your Benefits Plan eligibility changes, regardless of reason, your MeetPaidly Subscriber Account will remain active and available to you for potential future use. Your personal information will remain private and confidential per our Privacy Policy. MeetPaidly will remit any and all remaining funds collected to Payee. Any final payment amount will be communicated via email and should be reconciled with your Payee statement. ### Payments We do not send a statement listing transactions made using the Services. We will send an electronic notification to the email provided by you on your Subscriber Account when a payment has been made to a Payee. Subscribers should confirm all of the transactions with statements provided by the Payees. ### Delays with Processing a Payment Please note that some transactions may take longer to be credited to your account with the applicable Payee due to circumstances beyond our control, such as delays in handling and posting payments by the Payee or their financial institution. Some Payees may delay processing your payment. We are not responsible for any delays in processing payments resulting from action or inaction of any third party, including Payees. ### Rejected Payments Please note that a Payee is not required to accept payments through our Services. We are not responsible or liable for a Payee's decision to not accept a payment made through the Services. If we are notified that a payment sent through our Services was rejected, we will attempt to resubmit the payment to your Payee, if appropriate. If we are unable to process the payment or the payment is rejected, we will void the payment, credit the payment back to your Sponsor, and notify you within thirty (30) days of us being notified of the rejection or unprocessed payment. ### Fees MeetPaidly charges Sponsors a fee to use and offer our Services. MeetPaidly may also be compensated by third-party vendors for their services provided and used on the Website. ### Questions Regarding Payments All Subscriber questions about a payment or the transactions made through our Services should be directed to us, MeetPaidly, and not to your Sponsor. We can respond to questions regarding the operation of the Services and can address any errors in transactions made through the Services. Upon notification, we will use commercially reasonable efforts to work with you and, if appropriate, your Payee to resolve any errors or questions about any payments made with our Services. ### Unauthorized Transactions By agreeing to these Terms and Conditions, you agree to notify us as soon as you discover an unauthorized payment made through the Services and not more than thirty (30) days after either the issuance of the statement from the Payee's reflecting the payment or the payment is posted to your Subscriber Account, whichever is earlier. It is the Subscriber's responsibility to monitor payments and statements from the Payee for accuracy. You may request documentation or information regarding a payment transaction to determine whether an unauthorized transfer occurred by contacting us using the contact methods specified in these Terms and Conditions. Failure to notify MeetPaidly of unauthorized transactions constitutes a waiver of any claim against MeetPaidly related to the unauthorized transactions. ### Notification Requirements and Procedures You agree to alert us immediately if you believe your username and password has been lost or stolen, or if you believe that a fund transfer has been made without your permission. For unauthorized payments or any other errors regarding payments, you must contact us no more than thirty (30) days after either the issuance of your Payee's statement reflecting or omitting the subject payment or the payment posting to your Subscriber Account, whichever is earlier, in order for MeetPaidly to be able to assist in addressing the issue. All communications related to this Agreement, including to report unauthorized or erroneous payments or questions about any payments, must be sent by Certified Mail with Return Receipt and by email to the contact information below: **Paidly Inc** Mail Address: Paidly Inc 6 N. Main Street, Suite 205 Fairport, New York 14450 Email: [happiness@meetpaidly.com](mailto:happiness@meetpaidly.com) In all communications, please provide the following information: - Your name and email address associated with your Subscriber Account. - The name and contact information of your Sponsor. - Describe the purpose of the communication (e.g. seeking information or assistance related to an error, unauthorized payment, or question regarding the Services). - Any identifying information regarding the subject transaction, if applicable, including the date the payment was posted, amount of the payment, Payee information, account number, etc. All communications from MeetPaidly to you are through electronic communication via the email registered and associated with your Subscriber Account. We aim to acknowledge all communications within ten (10) business days of receipt. However, we may, as determined in our sole discretion, take up to sixty (60) days to investigate, address, or rectify, if applicable, your complaint or question. Upon request, we are happy to provide a written explanation related to a determination made by us regarding unauthorized transactions, errors, or other issues arising from use of our Services as well as provide copies of any documents used in making those determinations. For purposes of these disclosures and contacting MeetPaidly, our business days are Monday through Friday from 9:00 am to 4:30 p.m. EST. Holidays are not included. ### Confidentiality/Privacy We believe strongly in protecting individual user confidentiality and privacy and providing you notice of our collection and use of data, including personally identifying information, collected from you. Therefore, by agreeing to these Terms and Conditions and by using our Services and Website, you represent that you have read and agree to our Privacy Policy. Our Privacy Policy is also available at: [https://meetpaidly.com/privacy-policy](https://meetpaidly.com/privacy-policy) ### Disclaimer of Representations and Warranties; Limitations on Liability WE MAKE NO REPRESENTATIONS AS TO THE ACCURACY, RELIABILITY, QUALITY, TIMELINESS, AVAILABILITY, OR COMPLETENESS OF THE SERVICES OR THE INFORMATION, CONTENT, SOFTWARE, PRODUCTS, OR OTHER MATERIALS AVAILABLE THROUGH THE SERVICES. EXCEPT AS REQUIRED UNDER APPLICABLE LAW, WE PROVIDE THE SERVICES ON AN "AS IS, AS AVAILABLE" BASIS AND WILL NOT BE LIABLE FOR ANY DAMAGES OR INJURY CAUSED BY YOUR USE OF THE SERVICES. YOU USE THE SERVICES (AND PARTICIPATE IN ANY BENEFITS PLAN FROM YOUR SPONSOR) AT YOUR OWN RISK. EXCEPT AS REQUIRED UNDER APPLICABLE LAW, WE ARE NOT LIABLE FOR ANY FORM OF LOSS OR DAMAGE (INCLUDING WITHOUT LIMITATION DIRECT, INDIRECT, COMPENSATORY, CONSEQUENTIAL, INCIDENTAL, SPECIAL, PUNITIVE OR EXEMPLARY DAMAGES, EVEN IF KNOWN TO US) THAT MAY RESULT FROM YOUR USE OF THE SERVICES (OR PARTICIPATION IN ANY BENEFITS PLAN FROM YOUR SPONSOR). WE EXPRESSLY DISCLAIM ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT. ANY WARRANTY NOT SET FORTH IN THESE TERMS AND CONDITIONS WILL NOT BE VALID. IF ANY OF THE ABOVE PROVISIONS ARE VOID UNDER GOVERNING LAW, OUR LIABILITY SHALL BE LIMITED TO THE EXTENT PERMITTED BY LAW. ### Force Majeure Without limiting the applicability of the terms of the Section labelled "Disclaimer of Representations and Warranties; Limitations on Liability" MeetPaidly shall have no liability for any failure or delay resulting from conditions beyond the reasonable control of such party, including but not limited to any industrial dispute, acts of war, governmental action, acts of terrorism, acts of God, labor conditions, power failures and Internet or mobile network disturbances. ### Indemnification You agree to indemnify, defend and hold harmless MeetPaidly, its parents, subsidiaries and affiliates, and its and their directors, officers, owners, employees, agents, consultants, contractors and other representatives from and against any and all claims, demands, causes of action, debts, losses, liabilities, damages, judgments, settlements, tax assessments, penalties, interest, and expenses, including reasonable attorney's fees, arising out of, related to, or which may arise from: 1. Your use of the Services; 2. Your actual or alleged breach of or non-compliance with any term of these Subscriber Terms and Conditions; 3. Your violation of any right of a third party in connection with your use of the Services, including but not limited to any right of privacy, publicity rights, or intellectual property rights of such third party; 4. Your negligence or violation or alleged violation of any federal or state law, rule or regulation; or 5. Any other party's access and/or use of the Services with your login credentials used on the Website. UNDER NO CIRCUMSTANCES WILL MEETPAIDLY BE LIABLE FOR ANY LOST PROFITS, LOST OPPORTUNITY OR ANY DIRECT, INDIRECT, COMPENSATORY, CONSEQUENTIAL, INCIDENTAL, SPECIAL, PUNITIVE OR EXEMPLARY DAMAGES ARISING OUT OF ANY USE OR INABILITY TO USE THE SERVICES, WEBSITE, OR ANY PORTION THEREOF, REGARDLESS OF WHETHER MEETPAIDLY HAS BEEN APPRISED OF THE LIKELIHOOD OF SUCH DAMAGES OCCURING AND REGARDLESS OF THE FORM OF ACTION, WHETHER IN CONTRACT, WARRANTY, TORT, STRICT LIABILITY OR OTHERWISE. Your sole remedy for dissatisfaction or dispute with MeetPaidly, the Website, or MeetPaidly's Services is to stop using the Website and MeetPaidly Services. In no event shall the cumulative liability of MeetPaidly, its employees, partners, and affiliated companies exceed the amount paid to MeetPaidly for subscription or service fees by you during the prior twelve months before such dissatisfaction or dispute arises. ### Intellectual Property Rights MeetPaidly either owns, or has licensed, all U.S. legal right, title and interest in and to the Services, including but not limited to, any trademark, copyright, patent, trade secret, trade dress, service marks and other worldwide intellectual property rights as they relate to the Services (the "Intellectual Property"). These Subscriber Terms and Conditions do not grant you any rights with respect to the Intellectual Property. MeetPaidly reserves the right to terminate your access to the Services in the event you infringe on any copyright rights of MeetPaidly or any third party. MeetPaidly also reserves the right to remove any material posted by an individual that is alleged to infringe the copyrights of others. ### Termination You may terminate these Subscriber Terms and Conditions and your use of the Services at any time by emailing us at: [happiness@meetpaidly.com](mailto:happiness@meetpaidly.com). You must notify MeetPaidly at least thirty (30) days prior to any scheduled payments to cancel or modify the scheduled payment. MeetPaidly may terminate these Subscriber Terms and Conditions by terminating your access to the Services by deactivating or closing your MeetPaidly Subscriber Account at any time and for any reason, in its sole and absolute discretion without liability. MeetPaidly may also suspend the Services or your MeetPaidly Subscriber Account if MeetPaidly determines, in its sole discretion, that you (a) have violated these Terms and Conditions, (b) pose a fraud or other legal risk to MeetPaidly, or (c) have provided false, incomplete, inaccurate or misleading information or have otherwise engaged in fraudulent or illegal conduct. Upon termination of these Subscriber Terms and Conditions and your use of the Services, the license granted to you under these Subscriber Terms and Conditions will immediately end and you must immediately stop using the Services. MeetPaidly will have the right to close your MeetPaidly Subscriber Account if you have not already done so to prevent your access to MeetPaidly and MeetPaidly's Services. MeetPaidly will not be liable to you or any third party for compensation, reimbursement, or damages arising in connection with your use of the Services or in connection with the termination or suspension of your use of the Services. ### No Tax or Financial Advice MeetPaidly does not provide tax or financial advice or services. You understand and agree that you alone are responsible for determining and understanding the tax and financial consequences of your participation in your Sponsor's Benefits Plan and the payments and transactions described above. Your Sponsor may elect to withhold income taxes and apply employment taxes (such as FICA taxes) with respect to the Benefits you receive as part of your Sponsor's normal payroll and compensation reporting processes and procedures. Nevertheless, you are still responsible for any tax consequences. Please check with your Sponsor as to its policies on taxes. ### Governing Law/Exclusive Jurisdiction These Terms and Conditions will be interpreted, governed, and enforced under the laws of the State of New York as well as any claim, cause of action or dispute that might arise between you and MeetPaidly, without regard to conflict of law provisions. For any claim brought by either party, you agree to submit and consent to the personal and exclusive jurisdiction in, and the exclusive venue of, the state and federal courts located within Monroe County, New York. In the event of a dispute or claim brought to enforce the rights under these Terms and Conditions, MeetPaidly shall be entitled to recover its costs and expenses, including but not limited to reasonable attorneys' fees incurred in the defense or enforcement of these Terms and Conditions. Use of MeetPaidly's Services is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to local law or regulation. In the event there is deemed to be any information regarding Services and MeetPaidly products then such use and information is applicable only in jurisdictions where such services and products may lawfully be offered for sale and is void where prohibited by law. If you access MeetPaidly's Services from outside of the United States, you are responsible for compliance with local, national and international laws. ### Assignment These Subscriber Terms and Conditions and any rights and licenses granted hereunder may not be transferred or assigned by you and any attempted assignment will be deemed void. MeetPaidly reserves the right to assign these Subscriber Terms and Conditions to any third party without notice to you. These Subscriber Terms and Conditions will be binding and inure to the benefit of the parties hereto and their successors and permitted assigns. ### Entire Agreement These Subscriber Terms and Conditions represent the entire understanding of you and MeetPaidly with respect to the subject matter contained herein and supersede and cancel all prior written or oral contracts, agreements and understandings of you and MeetPaidly with respect to the subject matter of these Subscriber Terms and Conditions unless otherwise explicitly stated in these Terms and Conditions. ### Amendments and Modifications MeetPaidly may modify or revise these Subscriber Terms and Conditions from time to time, and will attempt to provide at least thirty (30) days' notice prior to any new terms taking effect. By continuing to access or use the Services after those revisions become effective, you agree to be bound by any future revised Subscriber Terms and Conditions. ### Survival These Subscriber Terms and Conditions, where their terms call for performance subsequent to termination or expiration of these Terms and Conditions or your use of MeetPaidly's Services, shall so survive such termination or expiration. The respective rights and obligations of the parties under these Terms and Conditions shall survive the termination or expiration of the Terms and Conditions to the extent necessary to preserve and enforce such rights and obligations. ### No Waiver; Severability The failure of MeetPaidly to exercise or enforce any right or provision of these Subscriber Terms and Conditions shall not constitute a waiver of such right or provision. All waivers must be expressly in writing and signed by an authorized representative of MeetPaidly. If any provision of these Subscriber Terms and Conditions shall be adjudged by a court of competent jurisdiction to be unenforceable or invalid, that provision shall be removed to the minimum extent necessary and the remainder of these Subscriber Terms and Conditions shall remain in full force and effect. ### Conflicts and Other Agreements In the event of a conflict between these Subscriber Terms and Conditions and any other policies of MeetPaidly, these Subscriber Terms and Conditions shall prevail as to the subject matter contained herein with respect to MeetPaidly. These Terms and Conditions do not nullify, and are in addition to, any other terms and conditions contained in other agreement(s) between you and MeetPaidly, including without limitation, any agreement regarding your use of the Services or any webpages, Websites or social media Websites maintained by us. Certain portions or pages of the Website, or other webpages, websites or social media websites are subject to additional disclosures and disclaimers. In the event of conflict between those disclosures and disclaimers and these Terms and Conditions, the additional disclosures and disclaimers will govern those portions, pages or websites. Termination or modification of these Terms and Conditions will not affect, or result in the termination or modification of, any such other agreements or disclaimers. ### Headings and Subheadings The headings inserted in these Terms and Conditions are inserted for convenience and identification only and are not intended to describe, interpret, define or limit the scope or intent of this agreement or any clause hereof. ### Third-Party Beneficiary The provisions of these Subscriber Terms and Conditions are entered into for the benefit of MeetPaidly and MeetPaidly's third-party licensors and designees and each of them shall have the right to enforce such provisions of these Subscriber Terms and Conditions directly against you to protect their interests. Except as stated in this section, there shall be no other third-party beneficiaries to these Subscriber Terms and Conditions. ### Contact Information You can contact MeetPaidly about these Subscriber Terms and Conditions by phone, writing or email us at the addresses below: Email: [happiness@meetpaidly.com](mailto:happiness@meetpaidly.com) Toll Free Phone: [(888) 384-6010](tel:888-384-6010) \[kindly leave a message if attendant is servicing another callers\] Mail Address: Paidly Inc, 6 N. Main Street Suite 205 Fairport, New York 14450 --- # Tax-Free Student Loan Repayment Benefits URL: https://meetpaidly.com/tax-free Description: Maximize employee retention with tax-free employer student loan repayment benefits. Learn how to leverage IRS Section 127 to provide up to $5,250 annually without tax penalties. Financial Advantages # Tax-Free Student Loan Repayment Benefits Take advantage of IRS Section 127 to provide up to $5,250 in annual contributions toward your employees' student loans—completely tax-free for both your business and your team. [Get Started for Free](https://app.meetpaidly.com/get-started)[Talk to an Expert](/contact-sales) ### Accelerate Payoff Employer contributions go directly toward the principal balance, reducing total interest paid and shortening the life of the loan. ### Tax-Free Status Under the CARES Act, these payments are non-taxable for employees and tax-deductible for employers up to $5,250 per year. ### Permanent Legislation Initially a temporary measure, tax-free student loan repayment assistance was made permanent through the One Big Beautiful Bill Act. ### Program Benefits - $5,250 maximum annual contribution - Tax-deductible for your business - Excluded from employee gross income - Enhances recruitment and loyalty ### Eligibility Rules - Must be a legitimate employee of LLC or S Corp - Must not own more than 5% of company equity - Only qualifying federal or private loans eligible - Requires a formal Section 127 Plan document ## The History of Section 127 The IRS tax code 127 was created in 1978 to allow employers to provide tax-free assistance to employees pursuing education. While initially temporary, it became a permanent fixture in 2012. In response to the 2020 pandemic, the CARES Act expanded this provision to include student loan debt relief. Paidly helps you navigate these regulations to maximize retention and recruitment. ### IRS Publication 15-B For deep-dives into compliance, eligibility, and the formal Section 127 Plan requirements, consult the official IRS documentation. [View IRS Publication](https://www.irs.gov/publications/p15b) ROI Snapshot ## Calculate Your Potential Savings. Our ROI calculator helps you visualize the impact of a tax-free repayment benefit on your recruitment savings and turnover reduction. [Explore Full Calculator](/calculators/employer-student-loan-repayment-roi-calculator) Total Employees500 Average Annual Salary$68,000 Current Turnover Rate24% Estimated Paidly Adoption24% Annual Savings 40% improvement $258,509 From reduced turnover and hiring costs The information provided is of a general nature and an educational resource. It is not intended to provide advice or address the situation of any particular individual or entity. Any recipient shall be responsible for the use to which it puts this document. Paidly shall have no liability for the information provided. While care has been taken to produce this document, Paidly does not warrant, represent or guarantee the completeness, accuracy, adequacy, or fitness with respect to the information contained in this document. The information provided does not reflect new circumstances, or additional regulatory and legal changes. ## Ready to Eliminate Student Debt? Whether you're an employer building a modern benefits package or an individual ready to crowdfund your payoff, Paidly is your platform. [Get Started for Free](https://app.meetpaidly.com/get-started)[Talk to an Expert](/contact-sales) --- # Terms of Service & Use URL: https://meetpaidly.com/terms-of-use Description: Read Paidly's Terms of Service for using our website and Student Loan Repayment Benefit platform. Understand your rights and responsibilities. # Website Terms of Use Last Update: March 15, 2024 Website Terms of Use Welcome to the MeetPaidly website. These constitute the terms of use (the "Terms of Use") for users of this MeetPaidly Website ("Website" and "WEBSITE"). As used in these Terms of Use, "MeetPaidly," "MEETPAIDLY," "we," "us" and "our" refer to Paidly Inc ("MeetPaidly"). PLEASE READ THESE TERMS OF USE CAREFULLY. THESE TERMS OF USE ARE A LEGAL AGREEMENT. BY ACCESSING THE Website, YOU ACKNOWLEDGE, AGREE AND ACCEPT TO BE BOUND BY THE TERMS OF USE. IF YOU DO NOT AGREE TO THE TERMS OF USE, OR IF YOU ARE UNDER 18 YEARS OF AGE, YOU MUST NOT ACCESS THE Website. ### Privacy Your privacy is important to us. For information regarding our use of information collected or provided through the Website, including information regarding non-public information we collect through use of the Website, please take the time to review our [Privacy Policy.](/privacy-policy) ### Rules of Conduct In using the Website, you agree to comply with these Terms of Use, MeetPaidly rules and policies, including our [Privacy Policy](/privacy-policy), and all applicable laws, rules and regulations. You further agree that you will not: - Interrupt or attempt to interrupt the operation of the Website or the servers or networks used to make the Website available; - Transmit or otherwise make available in connection with the Website: any virus, worm, Trojan horse, Easter egg, time bomb, spyware, or other computer code, file or program that is harmful or invasive or may or is intended to damage or hijack the operation of, or to monitor the use of, any hardware, software or equipment; - Restrict or inhibit any other person from using the Website (including without limitation by hacking or defacing any portion of the Website); - Attempt to gain unauthorized access to any accounts, computer systems or networks through hacking, phishing, password mining or any other means; - Impersonate any person or entity, falsely state or otherwise misrepresent your affiliation with a person or entity; - Reverse engineer, reverse assemble, decompile, create derivative works, modify, or otherwise attempt to derive the source code of the Website; - Use any material or information in a manner that infringes any copyright, trademark, patent, trade secret or other proprietary right of any party; or - Collect information about others, including but not limited to Personal Information as defined in our [Privacy Policy](/privacy-policy), or other information related to anyone but yourself. ### No Tax or Financial Advice Nothing contained on the Website is intended to constitute tax or financial advice. The information and materials on the Website are not intended as an offer or solicitation for the purchase of stock, any other security or any financial instrument of MeetPaidly, its affiliates, or any other issuer or company. No content or comments made by MeetPaidly, its employees, agents or any other user should be understood or used as the basis for any investment or financial decision, nor should they be construed as advice, endorsements or recommendations. In no event shall any reference to any third party or third-party product or service be construed as an approval, guarantee or endorsement by us of that third party or of any product or service offered by that third party. ### Links Links from this Website to an external website, unaffiliated with MeetPaidly, may be provided for users' convenience only. We do not control or review these websites nor does the provision of any link imply an endorsement or association of such non-MeetPaidly websites. We are not responsible for and make no representation or warranty regarding the contents, completeness or accuracy or security of any materials or information on such websites. If you decide to access such websites, you do so at your own risks. ### Copyright and Trademark Notices and Intellectual Property Rights of MeetPaidly We and our licensors and suppliers own the information and materials made available through the Website. Such information and materials may be protected by copyright, trademark, patent and/or other proprietary rights and laws. 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UNDER NO CIRCUMSTANCES WILL MEETPAIDLY BE LIABLE FOR ANY LOST PROFITS, LOST OPPORTUNITY OR ANY INDIRECT, CONSEQUENTIAL, INCIDENTAL, SPECIAL, PUNITIVE OR EXEMPLARY DAMAGES ARISING OUT OF ANY USE OR INABILITY TO USE THE WEBSITE OR ANY PORTION THEREOF, REGARDLESS OF WHETHER MEETPAIDLY HAS BEEN APPRISED OF THE LIKELIHOOD OF SUCH DAMAGES OCCURING AND REGARDLESS OF THE FORM OF ACTION, WHETHER IN CONTRACT, WARRANTY, TORT, STRICT LIABILITY OR OTHERWISE. Your sole remedy for dissatisfaction or dispute with MeetPaidly, the Website, or MeetPaidly's services is to stop using the Website and MeetPaidly services. In no event shall the cumulative liability of MeetPaidly, its employees, partners, and affiliated companies exceed the amount paid to MeetPaidly for subscription or service fees by you during the prior twelve months before such dissatisfaction or dispute arises. The information and materials contained in the Website are subject to change without notice. We may discontinue or make changes in the information, materials, services or products which may be described or provided for on the Website at any time without prior notice to you and without any liability to you. Any dated information is published as of its date only, and we do not undertake any obligation or responsibility to update or amend any such information. ### Limitation of Access We may shut down this Website, or limit or deny access to all or part of the Website, or the Website may from time to time be unavailable, delayed or slowed at any time, for any reason, without notice, and without liability to you. ### Other Agreements These Terms of Use do not nullify, and are in addition to, any other terms and conditions contained in other agreement(s) between you and MeetPaidly, including without limitation, any agreement regarding your use of any webpages, Websites or social media Websites maintained by us. In the event of a conflict, the additional terms and conditions will govern those sections or pages. In addition, certain portions or pages of the Website, or other webpages, websites or social media websites are subject to additional disclosures and disclaimers. In the event of conflict between those disclosures and disclaimers and these Terms of Use, the additional disclosures and disclaimers will govern those portions, pages or websites. Termination or modification of these Terms of Use will not affect, or result in the termination or modification of, any such other agreements or disclaimers. ### Governing Law These Terms of Use will be interpreted, governed and enforced under the laws of the State of New York as well as any claim, cause of action or dispute that might arise between you and MeetPaidly, without regard to conflict of law provisions. For any claim brought by either party, you agree to submit and consent to the personal and exclusive jurisdiction in, and the exclusive venue of, the state and federal courts located within Monroe County, New York. In the event of a dispute or claim brought to enforce the rights under these Terms of Use, MeetPaidly shall be entitled to recover its costs and expenses, including but not limited to reasonable attorneys' fees incurred in the defense or enforcement of these Terms. The Website is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to local law or regulation. In the event there is deemed to be any information on the Website regarding services and products then such information is applicable only in jurisdictions where such services and products may lawfully be offered for sale and is void where prohibited by law. If you access the Website from outside of the United States, you are responsible for compliance with local, national and international laws. ### Severability If any term or provision of these Terms of Use is held unenforceable, the validity or enforceability of the remaining terms and provisions will not be affected, and the unenforceable provision will be replaced with an enforceable provision that comes closest to the intention underlying the unenforceable term or provision. ### Headings The headings inserted in these Terms of Use are inserted for convenience and identification only and are not intended to describe, interpret, define or limit the scope or intent of this agreement or any clause hereof. ### Amendments We reserve the right to change these Terms of Use at any time and without prior notice, by posting revisions on this Website. You are bound by any such revisions as of the time of such posting and you should therefore periodically visit this page to review the current Terms of Use. Your simultaneous or subsequent use of the Website constitutes your agreement to be bound by the revised Terms of Use. ### Questions & Complaints If you have questions, would like to report unethical behavior, or if you would like to make a complaint, please contact us at the following addresses: **Paidly Inc** 6 N Main St Suite #205 Fairport, NY 14450 Email: [happiness@meetpaidly.com](mailto:happiness@meetpaidly.com) --- # University Student Financial Aid & Crowdfunding URL: https://meetpaidly.com/university Description: Empower students with peer-to-peer crowdfunding and 529 college savings. Paidly helps universities transform student financial stress into success. # Paidly for UniversitiesTransform Student Financial Stress into Student Success Empower your students with a safe, community-driven platform to build 529 college savings and conquer existing loans. It is a secure, valuable addition to your financial aid toolkit, powered by the people who care about your students most. [Schedule a Partnership Demo](/contact-sales) ## The Student Debt Crisis Demands a New Approach. Rising tuition costs leave families struggling to save proactively, while graduates enter the workforce burdened by crippling loans. Financial stress is now the leading cause of student anxiety and a primary driver of dropout rates. $37,850 Average Debt Average student loan debt at graduation. 70% High Anxiety Students report financial stress as their top anxiety source. 33% Dropout Rate 1 in 3 students drop out due to financial hardship. ### Help Jordan Crush Debt! New York University (NYU) '25 Contribute directly $25$50$100 Donate Securely Funds sent directly to loan servicer ## Empower Your Students with Peer-to-Peer Crowdfunding Provide your students with a secure, institutional-grade way to receive financial support from their personal networks. Paidly routes contributions directly to 529 plans or student loans to help them stay enrolled and focused on their education. ### Direct-to-Servicer Routing Funds are routed directly to the student's 529 savings account or loan servicer, ensuring the money is used strictly for educational purposes. ### Zero Administrative Overhead Paidly handles all compliance, secure fund routing, and transaction processing. Your financial aid staff doesn't have to lift a finger to manage student campaigns. ### Transparent Pricing & Promotion Standard transactions carry a transparent 2.75% usage fee, which covers secure payment processing and direct-to-servicer fund routing. [Explore all Friends Helping Friends features](/friends-helping-friends) ## How Friends Helping Friends Works Four simple steps to turn birthdays, graduations, and holidays into powerful moments of financial support. ### Create a Profile Students link their 529 savings plan or student loan account securely in seconds. ### Share Your Link A personalized link or QR code goes out on graduation announcements, birthdays, holidays, and social media. ### Loved Ones Contribute Friends and family donate with a credit or debit card—no donor account needed. ### Funds Go Direct Contributions route securely to the student's 529 plan for future costs or to their loan servicer. ## Why Universities Should Partner with Paidly Offering Paidly signals a genuine institutional commitment to student success beyond the classroom. ### Student Financial Wellness Foster financial wellness and reduce mental-health burdens from day one of enrollment. ### Boost Retention Rates Ensure students have the funds for future years to reduce dropout rates caused by financial hardship. ### Stronger Alumni Relations Graduates without crushing debt are significantly more likely to donate back to the university. ### Institutional Differentiation Position your university as a forward-thinking institution that genuinely cares about students' financial futures. Institutional-Grade Security ## 100% Secure & Transparent. Built for Trust. Funds route directly to verified 529 providers or loan servicers instead of personal bank accounts. Protect your students while ensuring every dollar goes toward their education. Account balances and private financial details are never shared with donors. [Partner With Us](/contact-sales) ## Empower Your Students' Financial Future Give all incoming and current students a powerful, community-driven way to fund their education and graduate with less debt. [Bring Paidly to Your Campus Today](/contact-sales)