In This Post:
Presenters:
Roger Eldridge
National Sales Director
John Hansen
Director of Strategic Partnerships
Last week, we had the pleasure of hosting Roger Eldridge, National Sales Director, and John Hansen, Director of Strategic Partnerships at Ascendium, for our latest Meet a Vendor webinar.
Roger and John provided valuable insights into the benefits of student loan assistance programs, discussing their profound impact on both employees and employers. They also shared key strategies and considerations for successfully implementing these programs to drive engagement and retention.
About Ascendium EG
With 57 years of experience, Ascendium has built a strong reputation for trust and expertise in federal student loan policy, programs, and servicing. As a mission-driven nonprofit, Ascendium invests over $100 million annually to make postsecondary education and training accessible to more learners. Their focus is on driving academic success, promoting long-term financial well-being, and supporting student loan repayment—all guided by their values, not profits.
Ascendium offers the Attigo® suite of solutions, which includes comprehensive student loan repayment support. With over 1,100 clients, including the U.S. Department of Education, colleges, universities, and employers nationwide, Ascendium continues to be a trusted partner in helping individuals achieve financial wellness and educational success.
State of student loan debt in America today
- 1 in 4 employees are carrying student loan debt.
- While there has been significant discussion around student loan forgiveness, large-scale forgiveness has yet to materialize.
- The SAVE Plan, which aimed to reduce payments by 50%, was blocked by the courts.
- Nearly 50% of borrowers have not resumed payments since the pandemic pause ended on September 30, 2023.
- The Student Loan “On-Ramp” ended on September 30, 2024, meaning delinquent borrowers are now being reported to credit bureaus.
- Over 60% of borrowers report that student loan debt has had a negative impact on their mental health.
- Traditional support from Federal student loan servicers remains insufficient for many borrowers.
Ascendium offers a comprehensive suite of solutions
Ascendium provides a range of solutions designed to ease the burden of student loan debt and support financial wellness:
- Student Loan Repayment Assistance: A platform that enables employers to contribute directly to their employees’ student loans or retirement accounts, helping reduce debt or bolster savings.
- Student Loan Repayment Support: Personalized counseling from trusted experts, offering tailored guidance to help individuals navigate the complexities of student loan management.
- Online Financial Education: A wide array of financial education resources, along with the Savi tool, which helps users identify eligibility for and enroll in the best repayment and forgiveness programs available.
How student loan benefits help employers
Student loan repayment assistance is rapidly becoming one of the fastest growing employee benefits.It’s a powerful tool for attracting and retaining top talent by addressing the significant financial burden student debt places on employees. By offering this benefit, employers can:
- Attract Talent: 80% of millennials say they would strongly consider a job offering student loan repayment assistance over one that doesn’t.
- Enhance Retention: 86% of employees with student loans would commit to staying with a company for five years if their employer helped repay their loans.
- Boost Engagement: Financially stressed employees are three times more likely to be disengaged, highlighting the importance of financial wellness for workplace morale.
- Increase Productivity: 70% of employees with student loan debt report that having student loan benefits would improve their job performance.
Why choose Ascendium?
- Mission-Driven Nonprofit: Focused on making education and financial wellness accessible to all, not driven by profit.
- Leader in Education Philanthropy: A trusted partner in supporting educational success and long-term financial health.
- 57 Years of Expertise: Decades of experience in student loan policy and management, offering unmatched knowledge and insight.
- Comprehensive Approach: Providing holistic solutions that address the full spectrum of student loan repayment and financial education.
- Compliant, Transparent, Trusted: A reputation for integrity, transparency, and full compliance with industry regulations.
Get in touch with the Ascendium team today!
Ascendium’s commitment to improving financial wellness through student loan repayment solutions is clear. Whether you’re looking to attract and retain top talent or support your employees in achieving long-term financial stability, their comprehensive approach offers the expertise and tools needed to make a meaningful impact. Don’t wait—reach out to Ascendium’s dedicated team today to learn how their solutions can help your organization and your workforce thrive.
Roger Eldridge – Reldridge@ascendiumeducation.org
John Hansen – jhansen@ascendiumeducation.org
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