An Education in Loan Management Countrywide Shares the Knowledge

stockfresh_7102501_college-debt_sizeS-300x300Employees are starting to get back to work. Quarantines are gradually being lifted as business establishments are allowed to reopen. It is a great relief for many people, but there are still some issues to be addressed. Financial wellness is still resting on unstable grounds.


The College Debt Is Not Going Away


Many young employees financed their college years through substantial loans. They are now faced with monthly bills that must be paid eventually. Some will use forbearance but that only delays things. The size of many college loan debts is equal to a home mortgage. It is tough for many young people.


The new normal includes remote working and being at home more than in the office. It is a great benefit, but it is not all wine and roses. A young employee working from home loses contact with the informal communication networks at work. The advice he or she may get from a colleague is no longer easily assessable. Moreover, being at home alone can mean obsessing over problems the person thinks cannot be solved. It can lead to the kind of stress that reduces productivity.


Those burdened with college debt do need good advice. An employer can help if the right benefits are provided. Countrywide Pre-Paid Legal Services has a financial wellness benefit that can bring a lot of relief to a very anxious employee.


Seasoned Experts Provide Advice


The core of the Countrywide benefit is a national network of certified counselors. This is a money team that offers sound advice and sensible guidance to people as they resolve their financial problems. There is a Countrywide counselor in the community of a Countrywide client, and it is easy to get in touch with this professional.


People are understandably worried about social distancing but that is not a significant problem for us. The Countrywide counselor can use whatever means such as Zoom or Skype to establish contact with a plan member. Our counselors use other means of keeping a safe distance. No one needs to worry about safety.


Financial Wellness Advice at a Sensible Distance


Our counselors work with everyday financial problems and college loan management is one of them. Counselors know of various programs that are unknown to young employees; it is possible to get some loan forgiveness and even renegotiate the standing balances.


There remains the business of paying the monthly invoices on time. A Countrywide counselor can help make that easy. We will do a budget analysis for financial wellness plan members and determine where the cash flow is going. Our counselor can make some suggestions on how to readjust a budget so that money is freed up to pay the college bill. Once again, strategies that are not known by the plan member are explained, and a person is shown how to create a budget that meets all the responsibilities and handle any sudden emergencies.


The Employers Are Involved


Countrywide has a sincere commitment to helping. We think that having decision-makers choose options that will be part of the financial wellness benefit is the best way to serve all employees. We explain what we have to offer and then ask the employer to make the choices. We back up all the options with a streamlined administration and some of the industry’s best member services. Every plan member is treated with respect regardless of the job title.


Working from home creates some challenges that are not ordinary in the workplace. Employees can feel isolated and the human resource department is not around the corner. It helps to have the kind of benefits that provide excellent service and quick response to any questions. That is the crux of the Countrywide financial wellness benefit. We offer exceptional service and we do it promptly.


Please feel free to contact us with any questions about our benefits. We believe that we can offer the services your employees need as they begin to adjust to the new normal.