The power of Ascendium’s Student Loan Repayment Assistance Program
Ascendium has always believed in the power of postsecondary education to help individuals rise to their highest potential, which is why we started providing federal Student Loan Repayment Assistance (SLRA), as allowed under the federal tax guidelines through the CARES act.
In combination with tuition reimbursement, Ascendium pays up to $5,250 per calendar year in educational assistance to eligible full-time employees. A reduced benefit amount is available for part-time employees. This allows employees to develop their job skills and abilities for other positions, including external career paths, or providing financial assistance for student loan debt already incurred.
Kirstin Yeado, a program officer on the Education Grantmaking team, was eager to take advantage of this employee benefit. “This support is helping me to pay off my student loans entirely, and it’s incredibly exciting! I’ve been able to direct more funds to other financial goals, including a college fund for my son,” Kirstin said. She said the onboarding process was super easy.
As for Kirstin’s contributions at Ascendium, she feels like she’s in a partnership with her employer. The SLRA benefit not only underscores Ascendium’s mission, but is a very important way to positively, and immediately, impact employees’ quality of life.
Anyone who's ever borrowed a student loan knows the burden the debt creates. Balancing student loan payments with other bills and financial goals is challenging. SLRA programs are increasing in popularity, and Ascendium has been on the cutting edge of offering this valuable benefit.
In 2021, Ascendium leveraged its knowledge of education finance and launched an SLRA administration service named Co-Pay Partners®, available at attigo.com.