New ‘Post-COVID College Planning’ Solutions
Protect Employees’ Financial Future
College threatens the retirement security of millions
The Wall Street Journal warns Americans that College is one of the greatest threats to retirement security, yet millions of employees make costly college mistakes every year, are unaware how COVID has dramatically changed the College Planning process, or blindly commit to tens of thousands in student loan debt which may be nearly impossible to repay.
Now, there’s a better way! The LFE Institute’s new digital CAP SystemTM helps employees save thousands on college, borrow less, avoid the latest college traps, and protects the financial resources of students, as well as the parents and grandparents who support them.
The Missing Component in Financial Wellness Programs
SHRM reports that nearly 50% of employers now offer Tuition Assistance programs, yet current Financial Wellness Programs fail to offer education to prevent the following costly mistakes:
- Students training for jobs that no longer exist – NBC News
- COVID-related college closings will leave students with worthless credits and degrees, and their parents buried in debt – MarketWatch
- Students with no College Plan spend up to 3.5 times more for college – Sallie Mae
- 40% of college freshmen drop out – EducationData.org
- 41% of recent college grads work in jobs that don’t require a degree – Federal Reserve
- 4.6 million college families walk away from free money every year – Forbes
- 64% of students run out of money every semester – Edvisors
- Parents are now on the hook for ALL new private student loans – Forbes
- 50 & Older: One of the fastest growing age groups for student loan debt – Department of Education
THE BENEFITS of College Planning to Employers
The LFE Institute’s scalable, digital Post-COVID CAP SystemTM is available for employees anywhere, anytime. It was designed to prevent the problems noted above, while helping employees maximize every dollar invested in higher education. Providing this service not only helps employees, but also helps employers reduce:
- Retirement Plan withdrawals
- Personal and Retirement Plan loans
- The high cost of Presenteeism – Employees spend hundreds of hours on college research
- Future student loan liens & garnishments
- Accidents due to distractions over COVID-related college decisions
- The Human Resource department’s time dealing with college-related problems
- Stress-related healthcare costs as employees struggle to meet upcoming college deadlines!
Just in time for Open Enrollment!
We’re here to help you reach your goals, as we change the financial lives of thousands of college-bound families in communities throughout the U.S. To learn more about these unique new College Planning tools for your employees, contact us today.
New: ‘Post-COVID College planning’ Webinar
This fast-paced Post-COVID Webinar was designed to help college-bound families learn the following:
- What colleges aren’t telling them after the shutdown
- Why 4.6 million students walk away from free money every year
- How grads can be better prepared for the ‘new’ job market
- Critical Post-COVID questions to ask
- Specific strategies to slash college costs
- The latest college traps to avoid
Click here to learn more about this life-changing new Webinar.