“I can’t express how helpful your workshop was to get me on track to have my student loans forgiven. There is so much confusing information out there, every organization NEEDS to share this with their team.”
Help your employees understand the detailed requirements of Public Service Loan Forgiveness and get them on track to obtain student debt relief this year. Clarity Consulting provides the education your team needs to confidently pursue student loan forgiveness. Learn more ➝
Clarity Consulting teaches your organization to integrate student loan forgiveness support into your employee benefits package. Student loan forgiveness is a legally defined employment benefit for nonprofit and public workers. It’s time for your organization to treat it that way. Learn more ➝
Today’s nonprofit employees struggle with student debt.
The Public Service Loan Forgiveness (PSLF) program is designed to relieve nonprofit and public sector workers of their student debt. Nonprofit work often requires graduate level education and offers lower pay than the private sector. It’s not unusual for a nonprofit employee with a graduate degree to face a student loan payment of roughly $800 per month. Clarity consulting coaches nonprofit organizations and their teams to navigate PSLF to minimize student loan payments and obtain loan forgiveness.
Student loan debt is an equity issue for nonprofit organizations.
People of color and low-income Americans carry a disproportionate share of the nation’s $1.5 trillion student debt. Nonprofit organizations that value inclusion of diverse community members must address loan forgiveness as a part of an equitable compensation package.
Learn more about how loan forgiveness supports equity and inclusion ➝
Student loan repayment assistance is becoming a common employment benefit.
Leading private sector employers now offer student loan repayment assistance of up to $10,000 as a recruitment incentive. Recruiting and retaining skilled employees remains a challenge for nonprofit organizations. But nonprofits have the advantage: total student loan debt forgiveness (tax-free!) through PSLF. There’s no better deal out there.
Understand how to leverage PSLF to recruit passionate, talented employees ➝
Public Service Loan Forgiveness (PSLF) was enacted by Congress in 2007. It allows student loan borrowers who work at most nonprofit organizations and government agencies to have their remaining federal student debt forgiven after 10 years of making income-based monthly payments, as long as they understand and follow the detailed program requirements.*
*That’s where Clarity Loan Forgiveness Consulting can help.
Besides providing a path for nonprofit employees to be free of student debt after ten years, PSLF allows borrowers to make substantially reduced monthly student loan payments based on their income. This is especially beneficial to public and nonprofit sector employees who earn low wages relative to their counterparts in the private sector.
Reduced student loan payments allow lower-income workers burdened with student debt to save for their first home, support their family, and are especially critical to supporting equity for people of color. Many young people and members of historically underrepresented and excluded communities want their career to make a difference. Student loan forgiveness allows nonprofit employees who have student debt to achieve major financial goals and other personal milestones while doing meaningful, impactful work in their community.
Student loan forgiveness is a defined employment benefit for workers in the nonprofit and public sectors, yet very few organizations treat it as such. Supporting your employees’ student loan forgiveness goals demonstrates keen understanding of their financial challenges and sends a message to your team that you are their partner in their mission to be free of student debt.*
Employers are invested in and support their team members’ well-being through retirement contributions, healthcare, insurance contributions, and other initiatives. Providing clear information about loan forgiveness has a powerful positive impact on employee’s financial health by helping with future financial planning, goal setting, and debt alleviation.
Most nonprofit employers cannot compete with private sector wages and rely solely on mission-drive and good will to recruit and retain talented employees. Student loan forgiveness is an unparalleled benefit that private sector employers cannot provide and represents an incredible competitive advantage in the context of ever-rising higher education costs.
*Clarity Consulting will help you with this, too.
