College graduates are getting a well-appreciated reprieve from college loan payments. The government is permitting a payment holiday for federal college loans, which reduces the stress on personal finances. This holiday, unfortunately, is short-term. Financial obligations will return later.
A Heavy Load
College loans are a dark cloud hanging over a person’s head. The balances can take 20 or more years to pay, and many life decisions are postponed or never realized. It is frustrating for any young employee to have a school debt the size of a mortgage.
The challenge to financial wellness is considerable. Young employees accept responsibility for paying the education bill but do not always know how to finance the debt. It happens too often that a college graduate relies on forbearance or even files for bankruptcy. These young employees clearly need help.
Employers can assist not only with grants of money but also financial wellness counseling. Their employees make decent wages but know little about debt management. Countrywide Pre-Paid Legal Services has a benefits plan that shows a person the way out of money troubles.
The Best Financial Wellness Counselors
Countrywide has an extensive national network of certified counselors who offer advice and coaching. These professionals work in the communities of Countrywide clients, and all counselors have social distancing practices.
There are programs to help college loan debtors and our counselors are familiar with them. A Countrywide counselor can direct a plan member to where such assistance can be found. Domestic finances can be a mystery even to well-paid, well-educated people. A cornerstone of the Countrywide financial wellness program is budget analysis.
Countrywide counselors will do a budget analysis to investigate cash flow. The information helps in creating a reasonable budget that permits that person to afford the loan repayments. If anyone is facing bankruptcy, Countrywide can show that individual how to file for bankruptcy and the services we have can help a person get out of that situation.
With a Client’s Help
Countrywide has several financial wellness options that can be part of the overall benefit plan. We work with all sorts of organizations, but we have little idea of what a prospective client has regarding employees. Demographics are going to vary from place to place.
We ask a client to tell us what options will be part of their unique plan. We will explain all our benefits to a decision-maker and then ask that the selection is made. Whatever the client decides will be part of the plan is in the final document. We provide the administration that guarantees quick service.
We enjoy working with people and something we genuinely like is when a plan member sees a solution to a problem. That person then starts to think of the financial future. They want to make significant purchases and Countrywide can help. We have a self-study program that educates a person about buying a house. If someone wants to sell assets, our financial wellness options include an asset inventory. Plan members end up with a better idea of what their financial worth is because of our efforts.
Practice Emotional Intelligence
Our counselors are chosen for their people skills as well as their financial acumen. We want a person to feel comfortable with a Countrywide counselor and those experts will treat any plan member with respect. It is part of our overall goal of providing solutions to everyday financial problems.
If you have any questions about our services, please feel free to contact us at your convenience. We will explain what we do in full detail and will answer all your questions. We are ready to be of help to you and your employees.