Even during times of significant financial pressure, YNHHS remains committed to investing in its employees, and that includes supporting employees with the cost of education. Leaders recently announced an expanded partnership with EdAssist to help eligible employees get relief from their student loans.
“We have heard you. Student loans can present a heavy financial burden on many of our employees, so we are pleased to announce opportunities to help offset those loans,” said Melissa Turner, chief human resources officer, YNHHS. “Our long-time partner, EdAssist, will provide individualized guidance to help employees determine their eligibility for a federal loan forgiveness program or a new YNHHS tuition loan repayment assistance program and provide coaching through each step of the process.”
EdAssist also continues to guide employees through the YNHHS Tuition Assistance Program.
EdAssist will help eligible employees with the following programs:
Federal Public Service Loan Forgiveness Program (PSLF)
PSLF forgives the remaining balance on certain federal direct loans after 120 qualifying monthly payments have been made under a qualifying repayment plan while working full-time for a qualifying employer (such as YNHHS). EdAssist has experience helping employees successfully navigate PSLF with personalized coaching on eligibility and determining the best path to future eligibility. Additionally, it can help employees eligible for both PSLF and the new YNHHS Student Loan Repayment Assistance Program understand how those programs can work together. EdAssist can also work with eligible employees to determine whether a previously denied PSLF application is eligible for reconsideration during a special waiver period through Oct. 31, 2022. If you have a federal direct loan that may qualify for PSLF, call EdAssist today (844-266-1531).
YNHHS Student Loan Repayment Assistance Program
This new program provides a flat amount of repayment assistance to offset regular monthly student loan payments. Eligible employees in eligible positions can receive assistance of up to $4,000 per year (full-time) or $2,000 per year (part-time), for up to five years. Employees can determine if their position is eligible to participate in this program by looking at their Infor work assignment profile (scroll down to “loan repayment eligible”).
YNHHS Tuition Assistance Program
This long-standing YNHHS program provides financial assistance to eligible employees who are actively pursuing advanced education to support their job/career advancement goals. Eligible employees can receive up to $5,200 per year (full-time) or $3,500 per year (part-time).
“Most employees will be able to take advantage of one or more of these programs,” added Turner. “These programs and the partnership with EdAssist are an important investment in you. In addition to supporting current employees and helping retain critical talent, these programs are a key part of our strategy to attract candidates and differentiate YNHHS in the ultra-competitive labor market.”
To confirm eligibility and/or initiate participating in any of these programs, call EdAssist at 844-266-1531. For general information on these programs, including a chart with eligibility requirements, visit HRConnect or the employee intranet.
