Financial Wellness Benefits
Meaningful Benefits for All Employees
We didn't forget about the other 70% of employees
StuLo® is a package of financial wellness benefits designed to provide coverage options for all your employees--not just those with student loan debt. For an employer with a workforce of professionals whose average age is under 50, just under 30% of your employees are likely to hold student loan debt.
StuLo Benefit Component Highlights
Federal Student Loan Concierge
Average of $343/mo savings and $31,000 federal loan forgiveness
Private Student Loan Refinancing
Up to 40% loan payment reduction with average savings of $15,270
Financial
Coaching
Unlimited telephonic counseling
Credit Repair
Concierge
Credit scores can start seeing improvement within 30-45 days
Identity Theft
Protection
Monitoring, resolution, and $1 million insurance*
Concierge-Level Service from StuLo Program Partners
- Certified/Accredited Financial Counselors
- Credit Restoration Technicians
- Federal Student Loan Specialists
- Private Student Loan Refinancing Team
Employee benefits can be complicated. We offer live agent telephonic support because that's what employees want.
71% of employees indicate a preference to speak to someone on the phone to help make informed benefit decisions.
StuLo Detailed Benefits Description
44 million Americans are saddled with an average of $37,000 of student loan debt and 29.5 million are under the age of 39.
Federal Student Loan Concierge
StuLo helps employees navigate the confusing process of federal loan debt.
- Accredited Student Loan Specialists
- Expertise in federal loan types, income-based payment plans, and loan forgiveness including PSLF
- Consultative approach for qualification, enrollment, and approval in federal assistance programs
- Full service, end-to-end, and streamlined document preparation and processing on behalf of the employee
- Cuts 90+ day processing time down to 6-8 weeks
- Referral to private loan refinancing marketplace for private loan debt and scenarios where federal assistance programs may not be the best fit
- Free initial consultation for personal review of loans and finances to determine federal program eligibility on the first call
- Creditworthiness is not a factor in federal consolidation, repayment programs, and forgiveness
- Savings average $343 per month and 79% reduction in payment with Income Based Repayment Plans
- 70% of customers qualified for potential debt Forgiveness averaging $31,000 including PSLF
- Member decides whether or not to make loan payments during 6-8 week consolidation application process
- One-time service fee paid by employee in convenient installments or as an employer-paid benefit
Private Student Loan Refinancing
A marketplace approach means employees can be matched with the right lender.
- Access to a platform of over 300 non-profit, local, and community banks
- Broad range of underwriting risk tolerance for income, credit, and debt ratios
- Quick and easy 3 minute online application to determine interest rate qualification
- High level of customer satisfaction
- Variety of loan types to meet employee objective of lower payments or accelerated payoff
- Monthly payment reductions of up to 40% with average savings of $15,270
- Fixed, variable, and interest-only repayment options available for up to first four years loan
- Largest unemployment protection in the industry with up to 18 months
- Access to private student loans for employees or dependent still in college
- No cost to employee. No loan origination fees or prepayment penalties
$1.3 trillion of debt can be attributed to student loans and 25% of individuals are either delinquent or in default.
70% of American workers report that financial stress is their most common form of stress
Financial Coaching
Employees are not alone in financial stress. StuLo is here to help.
- Immediate, unbiased, and confidential guidance
- Certified/Accredited, experienced, and compassionate Financial Counselors
- No cost to employees with unlimited number of calls
- Library of resources, calculators, and planners
- Interactive tools and worksheets for ongoing tracking with Financial Counselors
- Credit, debt and collections
- Cash flow and budgeting
- Large expense planning for education, mortgage, car, etc.
- Life change events, like: birth, death, divorce, etc.
- Elder Care
Credit Repair Concierge
StuLo can help employees to improve credit ratings for future financial goals.
- Accredited Credit Repair Technicians
- End-to-end document preparation and processing on behalf of employee
- See improvements on credit reports within 30-45 days
- Secured credit cards available if needed to re-build credit score
- Proprietary software that allows us to efficiently and accurately update, review and process client files
- 24/7 online account access to monitor progress
- Free initial consultation for evaluation of credit report and plan development
- Remove inaccurate, outdated and erroneous derogatory items
- Improve the accuracy of credit reports with all 3 major credit bureaus
- One-time service fee paid by employee in installments or as an employer-paid benefit
89% of Americans have incorrect information on their credit report, lowering their credit scores.
700 million identity records were breached in 2016 alone.
Identity Theft Protection
Monitoring and resolution services for identity theft.
- Social Security Number Monitoring
- Online “dark web” Monitoring
- Identity Verification Alerts
- Account Takeover Alerts
- Identity Theft Victim Assistance
- Lost Wallet Protection
- $1 Million Insurance* for covered losses and stolen funds
- ID Vault® Password Protection
- Services provided by Identity Guard®
- A dedicated case manager in the US to help fix identity theft
- Online portal for secure account management
- Coverage for individual with family options available
- Plans start at $6/mo. as a voluntary option and discounted if employer-paid
* Identity Theft Insurance underwritten by insurance company subsidiaries or affiliates of American International Group‚ Inc. The description herein is a summary and intended for informational purposes only and does not include all terms‚ conditions and exclusions of the policies described. Please refer to the actual policies for terms‚ conditions‚ and exclusions of coverage. Coverage may not be available in all jurisdictions.
StuLo is available to Employers, Alumni and Trade Associations, and
can be embedded with other Financial and Insurance programs.
The vendor companies presented as part of the StuLo benefit offering are contracted to provide their services to individual StuLo members as independently owned and operated entities. The vendor companies are neither affiliated with, nor are they responsible for the services provided by Student Markets Group, Inc. or any other vendor company, in any way. Each independent vendor company represents and warrants only the services specific to their individual company’s offering as provided in the terms and conditions of their member services agreement.
About StuLo®
StuLo is an employee benefit and association-member benefit program focused on: financial wellness, student loan debt relief, and credit repair services. The benefit program takes a wholistic approach to providing a financial wellness benefit for all employees and members—not just a benefit to help student loan holders only. The aggregation of financial related benefits include: general financial coaching and online tools, concierge services to help with federal student loan forgiveness and repayment assistance plans, private student loan refinancing marketplace, concierge services to help with credit repair, and identity theft protection. As an alternative to an employer-funded student loan repayment assistance benefit, StuLo provides significantly more benefit value at little to no cost to the employer or association.
Links
Contact
Student Markets Group, Inc.
4835 E. Cactus Rd., #240
Scottsdale, AZ 85254
Tel | 602-888-8144 Clients
Tel | 844-609-5937 Member
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The vendor companies presented as part of the StuLo benefit offering are contracted to provide their services to individual StuLo members as independently owned and operated entities. The vendor companies are neither affiliated with, nor are they responsible for the services provided by Student Markets Group, Inc. or any other vendor company, in any way. Each independent vendor company represents and warrants only the services specific to their individual company’s offering as provided in the terms and conditions of their member services agreement.
StuLo and its vendor partner companies are private companies that are not a branch of or affiliated with the Department of Education nor is it endorsed by any Federal, State, or Local government agency. Similar to filing a tax return, individuals can file a student loan consolidation application directly with the Department of Education, without professional assistance, and without charge.
Copyright 2019 Student Markets Group, Inc. All rights reserved.