Learn more about the partnerships that bring you the best support.
Overcoming Budget Challenges to Deliver Valuable Student Loan Benefit to Employees
To recruit and retain top talent, employers must offer innovative employee benefits. But doing so can often be costly. Concurrently, employees with student loan debt have their own financial burden to overcome. In an era marked by financial challenges for employers and employees alike, PTO Exchange and Ascendium offer a unique solution.
Providing a PTO conversion policy allows employees to tap into the value of their unused PTO. This strategy gives them access to funds already included in your benefits package yet gives them access to funds beyond their typical take-home pay. Employees can use the funds to pay down their student loans and lessen that financial burden.
It is a great low-cost way to introduce student loan benefits without investing in a company-paid student loan paydown contribution. It’s a win-win for employers and all employees, with or without student loans. Employees without student loans can direct their unused PTO funds toward retirement contributions, charitable donations and more.
This partnership allows employers to offer a flexible and modern benefits package that aligns with the diverse needs of their multigenerational workforce, particularly younger employees and parents who may have significant student loan debt. Our shared capabilities make use of the best and most innovative aspects of both organizations — always with the customer in mind. We help employers and employees realize the full potential of their PTO and pay down student loan debt.
Offering Clear Solutions for Navigating the Complexity of Student Loans
The burden of student loan debt can be crushing and confusing. It’s challenging to stay up-to-date on the repayment options available. That’s why the partnership between Ascendium and Savi is such a perfect solution.
Savi brings the innovative tool — that remains current with legislative changes — and Ascendium brings expert, personalized counseling. This marriage of technology and people resources helps borrowers more easily navigate the complexities of student loan repayment. The goal is to save student loan borrowers time, money, and headaches, while also benefiting the employer. When employees are unburdened by student loan debt and confusion, they are more productive at work, feel supported, and have a strong reason to remain at a company that cares about them.
Together, our comprehensive solutions for employers and institutes of higher learning will help tackle the burden of student loan debt.
