PNC Offers Student Debt Solution Program
PITTSBURGH, Pa. – PNC Bank recently announced the expansion of its financial wellness offerings for clients through the introduction of PNC Student Debt Solution.
Powered by Candidly, the PNC Student Debt Solution is a debt and savings optimization platform, offering client company workforces access to a holistic platform to help them reduce and manage the impact of their student loans.
PNC Student Debt Solution is a customizable option providing employees with decision tools and actionable tasks for debt reduction plans, identifying forgiveness opportunities, setting repayment schedules and comparing refinancing options.
With the Federal Reserve estimating that 50% of employees age 22 to 44 carry some amount of student debt, employers in a competitive job market are looking for benefit offerings to help them attract and retain talent.
“When it comes to attracting and retaining a talented workforce, our business clients of all sizes are looking for new and innovative ways to set themselves apart to prospective employees,” said Matthew Evans, executive vice president at PNC Bank, overseeing Organizational Financial Wellness. “At PNC, we understand the labor market has changed greatly in the past few years and continues to evolve at a rapid pace. It is our goal to introduce products and services to our clients that help them and their employees reach their financial goals.”
The PNC Student Debt Solution is designed to help employees create informed plans for covering student debt; leverage a network of lenders to find competitive rates; find guidance to lower monthly bills and identify eligibility for debt forgiveness; and then better utilize their resources toward other benefits like Health Savings Accounts or 401(k) programs.
“The PNC Student Debt Solution, powered by Candidly, will enable Americans, across all ages and wages, to make meaningful progress on their journey from debt to wellness to wealth,” said Laurel Taylor, founder and CEO of Candidly. “It is an honor to work with PNC in service of our shared mission of financial wellness for all.”
Published by The Business Journal, Youngstown, Ohio.