The flurry of recent activity surrounding student debt repayment, including government policies, like the SECURE ACT 2.0, passed by Congress in December, created provisions for employers to match student loan payments for those with debt while also adding to retirement accounts. This could provide relief to those struggling with repayments as it would give them additional resources to cover costs while also contributing towards their long-term financial stability.
This week’s news suggests that the Supreme Court may rule against President Biden’s debt relief program, which could end up costing taxpayers billions of dollars. The program is currently under attack by a lawsuit, and if it is ultimately unsuccessful, it could mean that more Americans are plunged into poverty.
The combination of technology and other innovations has made it easier for fintech startups to offer relief options for both employers and employees. Goodly, Highway Benefits, Candidly and Summer have all stepped up to provide this relief as well as increasing recruitment and retention in the industry. With these innovative solutions, businesses can save money while also providing employment opportunities to those in need.
The investments suggest that the B Corp movement has reached a tipping point, with a growing number of businesses looking to improve their environmental, social and governance (ESG) practices. This expanded presence will only strengthen the B Corp movement as it seeks to provide top-quality products and services while upholding important values.
Summer is a young company that created an app that helps people save money on their summer vacation. The app has a variety of features such as letting users plan their trips, track expenses, and receive discounts from participating businesses. Sealy and his team are hoping to make
According to Will Sealy, co-founder and CEO of Summer, when the global pandemic hit in 2020, many student loan borrowers were caught unaware and now owe a lot of money. The federal government put a pause on federal student loan payments three years ago, but with today’s economy still struggling, many borrowers are finding it difficult to repay their loans.
Borrowers who were using private student loans to pay for school in the past year have had a difficult time as there have been numerous changes to these loans in recent months. These changes, which vary based on the type of loan, make it difficult for students to understand how their current payments compare to previous ones. Additionally, borrowers who took out federal student loans may find themselves with higher interest rates as the government has started making more expensive loans available.
Though the moratorium on payments has helped, it is still nerve-racking for millions of people not knowing when payments will resume–meaning the payments are likely to hit them all at once. With this in mind, it might be a good idea for lenders to come up with a plan in case of a payment moratorium so that as few people as possible are impacted.
Summer is an important time for the development of progressive policies. Sealy and Joo will be putting their expertise to work as COO, ensuring that movements like Black Lives Matter are heard and taken seriously.
Since 2019, TechGround has strived to provide borrowers with an encompassing view of their current student loan situation and options for repaying it in the most financially efficient way possible. With the recent infusion of capital into the company, Summer is poised to continue its generosity and enter new markets as well as refine its offerings for borrowers.
Since she first started working with clients four years ago, Summer’s advice has helped many people reduce the educational debt burden and save for retirement. She educates her clients about various financial options and helps them choose the one that best suits their needs. By helping employees plan for college, learn ways to reduce the student loan debt burden and optimize retirement savings through employer matches, Summer is making a real difference in their lives.
Incorporating innovative business models and cutting-edge technology, Summer can help borrowers save money on their student loans. By partnering with companies like Intuit and Fidelity Investments, the company has become one of the most widely used resources for helping borrowers repay their debts. With over $1 billion in projected savings to date, it is clear that Summer is making a real impact on the way borrowers interact with their student loans.
Summer is a company that provides data-driven marketing insights to businesses. Their new funding will enable them to expand their services and products, as well as hire Leigh Gross as their chief revenue officer. Gross is charged with leading Summer’s initiatives around sales, business development, and revenue stream growth.
Employees are benefiting from debt relief programs offered by their employers in a number of ways. Not only are those taking advantage of the services reducing their own personal debt load, but they may also see that debt paid off faster through employer contributions to retirement plans. This new legislation makes it even easier for employees to maximize their retirement savings while paying off student loans or other debts.
