Tag - Candidly

Financial footprint of student loan debt

Surveys show student loans are a massive financial impediment for many. A recent Biden administration proposal to reduce or forgive some debt would help a small portion of borrowers. Surveys leading up to the payment resumption showed that many, especially those who had never budgeted for payments, had little to no idea how they would be able to begin making payments. Many people are confused, and others are angry that their loans are unlikely to be canceled, said Laurel...
Read more...

Candidly and intellicents Announce Partnership to Help Workers Tackle Student Loan Debt

Candidly, the leading AI-driven student debt and savings optimization platform, announced today a partnership with intellicents to bring Candidly’s student debt solutions to intellicents’ customers who include plan sponsors and their plan participants. This collaboration serves to support intellicents on its mission to help the typical American worker - “the underserved” - get their financial house in order by helping them plan and pay for college, repay student debt, and build savings via access to Candidly. Read more >>
Read more...

This startup helps student debtors move from payments to planning

Most companies help their employees save for retirement. But for a generation burdened with student loan debt, paying off those balances is often a higher priority. Candidly, a New York-based startup which started working on this problem in 2016, helps employees optimize their debt through loan consolidation and income-based repayment plans, among other mechanisms. Candidly, which announced $20.5 million in Series B financing in March 2023, saw its revenue increase tenfold last year and notched a 3,600% increase in dollars...
Read more...

Student Loan Platform Projects $1 Billion Impact for Users

Candidly, a platform that helps employees reduce their student debt and increase their savings, surpassed $1 billion in projected dollar impact in 2023, according to its annual report. The number represents the total amount of dollar impact Candidly users should receive as a result of actions taken on the platform. Users—most of whom have access to Candidly through their employer—can use the AI-powered platform to help tackle their student debt as well as plan and pay for college. The platform...
Read more...

Candidly Releases Inaugural Impact Report

Candidly, the leading AI-driven student debt and savings optimization platform, released today its 2023 Impact Report, which highlights customer profiles and shares key milestones met by the company in 2023. Achievements featured in the report include surpassing $1 billion in projected impact over the life of the loans of its end users, the vast majority of whom are offered Candidly as a workplace benefit from their employer. This number represents the total dollar impact that Candidly users are on track...
Read more...

401(k) Real Chat: Laurel Taylor

Retirement industry thought leaders answer three probing questions on critical issues, providing an open, honest and candid dialogue. This week, we host Laurel Taylor, founder & CEO at Candidly, which helps DC plan sponsors help their employees better manage their student loans. Read more >>
Read more...

Employers have short window to help workers ‘crush student debt’ through retirement plan match

Through 2025, employer-sponsored retirement plans are able to help workers “crush student debt” by offering a retirement plan match based on a qualified student loan payment, Candidly Founder and CEO Laurel Taylor said Tuesday at a conference. The retirement symposium was sponsored by the Employee Benefit Research Institute and the Milken Institute. The potential benefit comes from the Consolidated Appropriations Act, which was signed into law in 2020 as part of pandemic relief efforts. Read more >>
Read more...

Your employer may soon give you a 401(k) match for your student loan payments

In the new year, some employers will begin making matching 401(k) contributions into a retirement account for their employees’ student loan payments, a change that could be “transformational” for borrowers who may have trouble saving for retirement while paying down their debt. Different provisions in the legislation have different implementation dates: 401(k) matches for student loan payments will begin after Jan. 1. That comes just a few months after federal student loan payments resumed after a three and a half...
Read more...

Nudge Money Announces Partnership with Candidly to Empower Users to Tackle Student Debt

Nudge Money, the preeminent full-spectrum AI Financial Wellness Solution, announced today a partnership with Candidly, the leading AI-driven student debt and savings optimization platform. This collaboration aims to empower employer and financial institution customers of Nudge to support their workforce and customers with tools that help with planning and paying for college, repaying student debt, and building savings via access to Candidly. Read more >>
Read more...