The past year has been one for the record books when it comes to stress. The pandemic has put a strain on our members in many ways, but most especially their physical, mental, and financial health. More specifically, student loan debts continue to skyrocket. In our region alone, about 1.8 million people owe approximately $60.2 billion in student loans.
To help alleviate some of the stress that comes from student loan debt, Independence Blue Cross (Independence) now offers access to the Philadelphia-based GradFin Student Loan Services. GradFin, an independent company, helps members find the best strategies to save for college while reducing student loan debt. In other words, it’s a service that specifically helps your financial well-being.
Let’s take a closer look at the programs GradFin offers.
Student Loan Financial Education
The foundation of GradFin’s student loan benefit program has three components. They include free personalized one-on-one student loan consultations, webinars, and on-location “Town Hall” presentations. The program generates more efficient solutions to pay off members’ loans, while also focusing on saving money for the future.
Student Loan Solutions
GradFin’s consultants will analyze loans and work with over ten lenders to provide a comprehensive solution. This will reduce student loan debt by refinancing and consolidating student loans. Ultimately, GradFin provides a faster and more efficient path for members to become debt-free while saving thousands of dollars over the term of their loan(s).
Public Service Loan Forgiveness (PSLF) Membership
GradFin helps members comply with the PSLF program by enrolling their loans in the PSLF program, verifying their employment, annually certifying their income-based repayment plan, and auditing their “qualified payments.”
GradFin is for Everyone
GradFin is available at no cost to Independence consumer plan members and commercial group customers. It is great for anyone who has children currently in college or for anyone with student loans.
But what makes this offering so unique that these services can be used by anyone in the Independence member’s household, even if those who aren’t enrolled in the insurer’s medical benefits. Similarly, if a company offers medical benefits from Independence, even employees who opt out of medical benefits through Independence still have access to GradFin services.
We’re offering this financial well-being program because we’re committed to offering benefits that encompass a member’s whole health.
If you’re interested in learning more about GradFin, visit goto.gradfin.com/independence or call 844-GRADFIN (844-472-3346).