Most companies help their employees save for retirement. But for a generation burdened with student loan debt, paying off those balances is often a higher priority. Candidly, a New York-based startup which started working on this problem in 2016, helps employees optimize their debt through loan consolidation and income-based repayment plans, among other mechanisms.
The startup also makes it easy for companies to match employees’ student-loan payments with tax-free retirement plan contributions, as outlined in the Secure 2.0 legislation that President Biden signed into law in late 2022. Candidly, which announced $20.5 million in Series B financing in March 2023, saw its revenue increase tenfold last year and notched a 3,600% increase in dollars flowing through its platform toward student loans. Most importantly, Candidly helps borrowers pay off their debt faster, allocating more of their income to planning for the future instead of drowning in the past. Seventy-five percent of the company’s end users are women or people of color.
Explore the full 2024 list of Fast Company’s Most Innovative Companies, 606 organizations that are reshaping industries and culture. We’ve selected the firms making the biggest impact across 58 categories, including advertising, artificial intelligence, design, sustainability, and more.
Ak chcete pridať komentár, prihláste sa
Ostatné príspevky v tejto skupine
In recent years, people have welcomed AI into their lives with open arms: as personal
Cybersecurity and
A “click-to-cancel” rule, which would have required busines
Yesterday, Apple unexpectedly announced the most radical shakeup to its C-suite in years. The company revealed that Jeff Williams, its current chief operating officer (COO), will be departing the
As Congress moves to make massive cuts to public broadcasting this week, Paula Kerger, president and CEO of the Public Broadcasting Service (PBS), gives an unflinching look at the organization’s f
