New partnership provides Guild members tools and resources to accelerate debt reduction and unlock economic opportunity
Guild, the leader in opportunity creation for America’s workforce, announced its new partnership with Candidly, an AI-driven student debt and savings optimization platform. By design, Guild prevents the rise of new student debt through access to tuition-free education and learning programs, and now through its partnership with Candidly, the company is helping to reduce debt incurred prior to utilizing Guild.
Through the partnership, Guild expands the wraparound support services it provides to its members to now include student loan benefits. This is particularly impactful for those who may be hesitant to complete their degree or take on additional learning opportunities given the burden of existing debt, as the student loan benefit services are paid for by employers.
U.S. student debt has reached a staggering $1.7 trillion, impacting tens of millions of Americans. This includes millions of employees who work at Guild partner companies across the country. When Guild surveyed its members employed at these companies, nearly two-thirds expressed that their prior loans have impeded their career advancement. Additionally, with the Supreme Court’s recent decision to strike down President Biden’s loan forgiveness program, and student loan repayments set to resume in the fall after a three-year pause, the need for student debt solutions is even more pressing. Guild is addressing this debt burden by removing critical barriers American employees face on their career advancement pathways and helping to enable their financial wellness and progression into in-demand jobs.
Among Guild members with student loans, a notable 80% expressed their intention to stay longer with employers who offer student loan benefits. By offering quality education and skilling benefits, career mobility, and comprehensive support services, these employers create a conducive environment for their employees to thrive and advance in their careers.
“Guild’s collaboration with Candidly represents a critical milestone in our pursuit to unlock opportunity for America’s workforce, especially for frontline employees and those who historically had limited access to education and career development,” said Guild CEO Rachel Romer. “Employees have the freedom to choose their workplace, and they are increasingly drawn to employers who prioritize their long-term growth and financial well-being. Guild is proud to partner with employers who share this forward-thinking approach and who are dedicated to eliminating barriers such as student loan debt and the high costs associated with education and skills development.”
The partnership between Candidly and Guild enables employees at Guild’s participating employer partners to access a range of tools to optimize their student loan repayments and accelerate debt reduction at no cost to the employees. Services include access to coaches who are Certified Student Loan Professionals to help employees understand the options available to optimize their current loans, structured ways to save and automate savings, assistance with income driven repayment plans and Public Service Loan Forgiveness, and employer contributions to student loan repayments. Employers cover the expenses for these services, mirroring the employer-paid model that Guild employs for its tuition assistance offering.
“At Candidly, it is our mission to reach and serve hard-working Americans at scale, providing peace of mind and student debt savings for those who have pursued education to propel themselves and their families forward. We are grateful for the opportunity to join hands with Rachel and her mission-driven team at Guild to unlock economic opportunity and financial resiliency for all,” said Laurel Taylor, Founder and CEO of Candidly.
