This was a slam dunk for our organization. With how reasonable the cost was, it was a quick decision for us to offer this benefit. We wish we would have done it years ago.

Hurley Medical Center: Supporting Financial Wellness through Student Loan Assistance

Hurley Medical Center, a prominent healthcare provider, partnered with Summer to tackle the financial burden of student debt impacting its employees. With a workforce heavily engaged in public service, Hurley recognized the value of Summer’s tools, including guidance for Public Service Loan Forgiveness (PSLF) and Income-Driven Repayment (IDR) plans, to enhance recruitment, retention, and employee well-being.

The Challenge

Hurley Medical Center's employees face significant student loan debt, which has been shown to contribute to financial stress and impact retention in healthcare settings. Despite available federal benefits like PSLF, many employees struggle to access them due to the program’s complex requirements, including employment certification and income-driven repayment stipulations. Hurley sought a comprehensive solution to help employees navigate these challenges and realize substantial financial savings.

Solution

Through Summer, Hurley Medical Center implemented a dedicated benefits program for student loan management and financial wellness, including:

• PSLF Eligibility Assistance: End-to-end PSLF support, simplifying the process for employees to qualify for tax-free loan forgiveness.
• Customized Repayment Recommendations: Tailored guidance on IDR plans, federal consolidation options, and more, based on individual loan data.
• Ongoing Education & Support: Regular webinars, an intranet info sheet, and direct access to certified loan experts for employees.
• College Cost Planning: Identifies tuition expenses, estimated savings needed over time, and expected federal aid support. Plus, education around 529 plans, the FAFSA, scholarships, and more.