Employees want to have a comprehensive benefits program for their employees. Benefits that complement each other are more cost-effective and people are more likely to take advantage of what their managers offer. Millennials and those just graduating from college need help with their college debt. Furthermore, they need to find ways to prevent college costs from overwhelming their financial wellness.
There Is a Need to Stretch Educational Assistance
Management understands that employees in school need a helping hand with their college expenses. It is why educational assistance programs were developed in the first place. Such assistance is appreciated but it doesn’t go as far as it could.
The cost of higher education has skyrocketed in recent years. The cost of tuition is often more than what companies can provide as education assistance. Employers can still provide needed support and it doesn’t mean increasing the educational assistance budget.
Employees welcome any advice or guidance in managing their college debt. Furthermore, they are glad to get directions on how to reduce the amount of the obligations they have already. Countrywide Pre- Paid Legal Services wants to assist folks in maintaining healthy financial wellness. We have a program that suggests ways to keep college debt under control.
Great Financial Wellness Advice
Countrywide has a national network of certified counselors who are experts. These are professionals who provide the guidance necessary to manage those tuition bills, and how to pay off the existing balances.
A big problem for those with outstanding college debt is not knowing how to budget for the payments successfully. Our counselors will do a budget analysis to help a plan member better understand where the money is coming from and where it is going. Counselors can suggest means to reallocate money so that there is enough cash to pay what is required.
It is possible to renegotiate outstanding student loans. Our counselors will show a plan member how to approach the lending institution and what information is necessary to get a lower interest rate. The counselor will advise how to fill out the required paperwork. Counselors also have information on debt reducing programs that not many people know exist. These are brought to the attention of the plan member.
The objective is to be of service to an employee who is facing college payments. Counselors will show a person how to best use the educational assistance provided by the employer. Our counselors can also give a little more insight into how educational assistance can best help a person. We have been able to help many employees maintain financial wellness and meet the required student loan payments.
The Employer Crafts the Plan
Countrywide is committed to giving great service. We want the employers to help us develop the best plan for their employees. Help with college debt is one of the benefit options and we have others, as well. The employers can look at what we offer and decide those options which will best suit the needs of their employees.
This is a very efficient way of crafting an employee benefit program. Employers know what their workforce needs, and they will tell Countrywide what needs to be in the final plan document. We will respect those wishes and include the options in the financial wellness plan.
We suggest that employers look at our benefits with the idea of how these can best complement existing benefits. Help with college debt will certainly be a benefit for those who are also taking educational assistance. It is a comprehensive approach to a benefit concept that better meets the needs of hard-working employees.
If you have any questions about our financial wellness benefit program, please feel free to contact us at your convenience. We think what we offer will be advantageous to your employees and we welcome the opportunity to explain what we can do for them.