Trending...
- Gretchen Cook-Anderson Named Associate Vice President, Assistant to the President for Diversity, Equity, Inclusion and Antiracism at IES Abroad - 465
- Star Peak Energy Transition Corp. Reaffirms Timing of Special Meeting to Approve Business Combination - 362
- MCAP Acquisition Corporation Announces the Separate Trading of Its Class A Common Stock and Warrants Commencing on or About April 19, 2021 - 358
SPRINGFIELD, Ill.--(BUSINESS WIRE)--Horace Mann Educators Corporation (NYSE:HMN) announced today that its Student Loan Solutions (SLS) program identified more than $100 million in Public Service Loan Forgiveness (PSLF) opportunities for educators in 2020, bringing the program's lifetime total to more than $350 million.1
The Horace Mann SLS program provides webinar education, online resources and expert loan coaches to help all public school educators get the loan forgiveness they deserve under PSLF and Teacher Loan Forgiveness. PSLF forgives the remaining balance on Direct Loans after 120 monthly payments under a qualifying repayment plan. Since launching its Teacher Appreciation initiative in the fall, Horace Mann has offered all public school educators and school districts nationwide complimentary access to the SLS program — and is now extending that access through the 2021-2022 school year.
"Horace Mann is on a mission to reduce the burden of student loan debt for educators. Since announcing our Teacher Appreciation initiative, school districts in more than 21 states have adopted our SLS program as a benefit for their employees, creating a meaningful opportunity for over 86,000 public school employees to have all or some of their student loan debt forgiven," said Erin Clark, Vice President of Horace Mann's Student Loan Solutions program. "Some of the largest school districts in the country recognize the value of the Horace Mann Student Loan Solutions program. They know it helps to keep their current employees in the education profession, and also attracts new talent."
More on illi News
A June 2020 Horace Mann survey showed more than 60% of educators have student loan debt,and that debt weighs heavily on their decision to stay in the profession.For a career that generally requires a college degree or greater, educator job compensation is often not commensurate with the investment it took to get there. Notably, 85% of educators said student loan debt has prevented them from achieving life goals, such as saving, buying a house or starting a family. Others have taken on additional jobs to support their families. Addressing student loan debt can help.2
"It is important to pursue PSLF now, even during the CARES Act student loan forbearance," added Clark. "Educators who are in the right repayment plan now receive credit toward their qualifying loan payments, even if their payment is $0. But most educators are in the wrong payment plan today, and are missing this valuable opportunity to move closer to forgiveness."
The SLS program is complimentary to both the school district and employees in appreciation of everything our schools and teachers are doing during the pandemic. School districts interested in learning more about the SLS program for employees and new hires can request information at horacemann.com/student-loan-debt-help/schools. Educators can sign up directly at horacemann.com/student-loan-debt-help/signup/teacher-appreciation.
More on illi News
(1) Potential savings of educators assisted by Horace Mann with Public Service Loan Forgiveness from October 2016 through 2020 based on assumptions established by the U.S. Office of Federal Student Aid. Monthly and annual savings are based on 2020 only.
(2) The Student Loan Debt Effect: Good Teachers are Leaving Education, Insights from the Horace Mann Educators Student Loan Debt Study
About Horace Mann
Horace Mann Educators Corporation (NYSE: HMN) is the largest financial services company focused on providing America's educators and school employees with insurance and retirement solutions. Founded by Educators for Educators® in 1945, the company is headquartered in Springfield, Illinois. For more information, visit horacemann.com, or follow us @HoraceMann on Twitter and LinkedIn, and @HoraceMannInsurance on Facebook.
The Horace Mann SLS program provides webinar education, online resources and expert loan coaches to help all public school educators get the loan forgiveness they deserve under PSLF and Teacher Loan Forgiveness. PSLF forgives the remaining balance on Direct Loans after 120 monthly payments under a qualifying repayment plan. Since launching its Teacher Appreciation initiative in the fall, Horace Mann has offered all public school educators and school districts nationwide complimentary access to the SLS program — and is now extending that access through the 2021-2022 school year.
- Of the educators taking advantage of the SLS program, over 85% find they can be better off, either qualifying for loan forgiveness or obtaining lower monthly payments, and for a majority of people, both
- On average educators using the program save $330 per month, equivalent to more than $4,000 per year in student loan payment savings
- Of those that could qualify for PSLF the estimated student loan forgiveness is $75,000+ on average
"Horace Mann is on a mission to reduce the burden of student loan debt for educators. Since announcing our Teacher Appreciation initiative, school districts in more than 21 states have adopted our SLS program as a benefit for their employees, creating a meaningful opportunity for over 86,000 public school employees to have all or some of their student loan debt forgiven," said Erin Clark, Vice President of Horace Mann's Student Loan Solutions program. "Some of the largest school districts in the country recognize the value of the Horace Mann Student Loan Solutions program. They know it helps to keep their current employees in the education profession, and also attracts new talent."
More on illi News
- Gold Rush Gaming Vindicated By Dismissal Of Disciplinary Complaint By Illinois Gaming Board
- Uncommon Investment Advisors Introduces First ETF
- Cleanroom Wipe Dispenser Improves Process in Labs and Cleanrooms
- SiteOne Services Named Best Home Building Customer Support Software by BUILD Magazine
- Concept Reply partners with IOTech to enhance its Industry 4.0 edge computing portfolio
A June 2020 Horace Mann survey showed more than 60% of educators have student loan debt,and that debt weighs heavily on their decision to stay in the profession.For a career that generally requires a college degree or greater, educator job compensation is often not commensurate with the investment it took to get there. Notably, 85% of educators said student loan debt has prevented them from achieving life goals, such as saving, buying a house or starting a family. Others have taken on additional jobs to support their families. Addressing student loan debt can help.2
"It is important to pursue PSLF now, even during the CARES Act student loan forbearance," added Clark. "Educators who are in the right repayment plan now receive credit toward their qualifying loan payments, even if their payment is $0. But most educators are in the wrong payment plan today, and are missing this valuable opportunity to move closer to forgiveness."
The SLS program is complimentary to both the school district and employees in appreciation of everything our schools and teachers are doing during the pandemic. School districts interested in learning more about the SLS program for employees and new hires can request information at horacemann.com/student-loan-debt-help/schools. Educators can sign up directly at horacemann.com/student-loan-debt-help/signup/teacher-appreciation.
More on illi News
- Star Peak Energy Transition Corp. Reminds Stockholders to Vote in Favor of Business Combination with Stem, Inc.
- Thiel College launches innovative Communication and Leadership Master's degree program
- Pappas reminds taxpayers: Pay First Installment Cook County property taxes through May 3 with no late fee
- JFK honored as "First Irish-Catholic President" in New Bill
- Naperville: Immediate Closure of Middle and Top Levels of Central Parking Facility
(1) Potential savings of educators assisted by Horace Mann with Public Service Loan Forgiveness from October 2016 through 2020 based on assumptions established by the U.S. Office of Federal Student Aid. Monthly and annual savings are based on 2020 only.
(2) The Student Loan Debt Effect: Good Teachers are Leaving Education, Insights from the Horace Mann Educators Student Loan Debt Study
About Horace Mann
Horace Mann Educators Corporation (NYSE: HMN) is the largest financial services company focused on providing America's educators and school employees with insurance and retirement solutions. Founded by Educators for Educators® in 1945, the company is headquartered in Springfield, Illinois. For more information, visit horacemann.com, or follow us @HoraceMann on Twitter and LinkedIn, and @HoraceMannInsurance on Facebook.
Filed Under: Business
0 Comments
Latest on illi News
- Celebrity Master Fitness Trainer Solomon Pratt Demos Booty Bands LIVE o nEntrepreneurs for Mothers Day on Entrepreneurship Live Show
- Resolution Introduced in New York City Council Calls on the United States to Endorse United Nations Convention on Biological Diversity
- The AZEK® Company Inc. Announces Fiscal Second Quarter 2021 Earnings Release and Investor Conference Call on May 13, 2021
- Absortech breaks new sustainable ground
- Inframark Acquires Environmental Development Partners
- Allscripts to Release First-Quarter 2021 Financial Results April 29
- Naperville: Structure Fire 1700 Block of Roberts Lane
- ShoppingGives Launches In-store Charitable Giving Option for Shopify Merchants Through Shopify POS
- ResortNet Completes Installation Of Fiber-To-The-Home (FTTH) to Rural Colorado Residential Community
- Womxn of Color Summit's The Art of Authentic Living Brought Over 350 Women of Color and Non-Binary People of Color Together to Heal in Community
- A Timeless $14 Million, Mediterranean Villa is one of the Highest-Priced Listings In Tampa
- National Association of Tax Professionals announces sessions in virtual education event
- WHO-Compliant, FDA-approve Quantum-ION® Long-lasting, Contactless, Antimicrobial Protection
- Sandline Welcomes Trusted Forensic Expert & Advisor Robert B. Fried
- Children's author releases first book in the Nick series
- HomeCentris Healthcare Announces Expansion into Pennsylvania
- Camping World Announces Strategic Appointments to Leadership Team to Enhance Its Growth and Expansion Plans
- SRW Expands Offering by Welcoming First Executive Creative Director
- Signature introduces Quicklink Studio for connecting remote presenters into virtual events
- Debut Novel "EO-N" Wins Reader Views Best Historical Fiction Award