Two Ways we put our benefit experience to work for you
Student Loan financial planning
This is where it Begins for all of our benefits
What it is
Technology is great, but when it comes to financial services products, we know that employees need more. That’s why our service combines a proprietary technology platform with real people who are financial experts. Working together with our MyFiducius portal, our Advisors provide the support employees need to address their unique situation, become fully educated and then take action. STARTING POINT
Why it Matters
For employees, our Student Loan Financial Planning service ensures we have no bias and always act in the best interest of the individual borrower by recommending the right loan restructuring solution. Through this service, we also develop relationships with borrowers which extend over years, providing on-going financial guidance and supporting retention goals.
Income affects eligibility for programs like PSLF and setting income driven repayments (IDRs)
Borrowers often have 8-10 loans, with each impacting options to restructure
Tax Filing Status
The timing and type of filing (single vs. joint) can make a big difference with an IDR
Our process increases new and additional participation in these plans by 45%
Contributions to pre-tax benefits will lower an IDR by reducing income
Family size also affects the amount of an IDR, including children on the way
This common expense for working parents can also impact income
Whether in school or thinking about going back, it matters for benefit eligibility
And Much More...
Don't be overwhelmed! The experts at Fiducius understand all the factors which can impact loan restructuring options.
Engage with Fiducius
As a benefits company, we know the importance of setting goals and using effective communication to drive utilization. That’s why we created our Engage with Fiducius approach. Our team of engagement specialists have the knowledge and tools to create benefit awareness and understanding across your organization, while handling all the heavy lifting for you! Our approach includes three components:
Thorough planning to create alignment and accountability between Fiducius and employer.
Engagement Activity Checklist:
Identifies all supporting elements for the Plan, including internal resources and vendor partners.
A living document that defines success by setting goals and establishes approach to engage all stakeholders.
The nitty-gritty details that ensures the project team can coordinate delivery of all plan elements.
Creating awareness and understanding of the benefit across candidates, new hires, existing employees and management.
Our standard approach includes use of our marketing automation platform to pull your employees into the benefit. It provides the following critical value:
- Moves employees through the enrollment process with the most relevant messaging and actions
- Ensures we don’t overcommunicate with employees because all interaction is part of a controlled journey
- Enables detailed metrics on where all employees are in the process (feedback loop for effective planning)
- Reduces time and workload for the Benefits team
Campaign Journey Example:
Drive employee utilization with relevant messaging and outreach. Create benefit awareness and understanding.
Monitor performance, learn and adapt as needed.
Results are evaluated during quarterly reviews, and the Engagement Plan is updated to reflect learnings and new approaches to engage employees.
Reports are central to monitoring performance against established goals. With Loan Relief benefit, we typically monitor three categories of engagement:
Evaluate: Establish whether an employee has student loans
Educate: Move employee through Student Loan Financial Planning Process to a plan
Execute: Employee acted on the Student Loan Financial Wellness Plan