Student loan debt has increased significantly over the past decade and has climbed to more than $1.7 trillion. Penn understands that many staff and faculty have been burdened with repayment, creating strains on your mental and financial health. That’s why the University has partnered with PeopleJoy, a financial wellness benefits organization that specializes in student loan repayment and forgiveness, to help you take charge of your student loan debt and get the support you need.
At this time, Penn is offering employees a free service administered by PeopleJoy. They will help you determine your eligibility for the Public Service Loan Forgiveness (PSLF) program, assist you with navigating the application process, and advocate on your behalf with student loan providers. Participating employees will receive:
- Program assessments: Get help to identify the best federal repayment programs based on your individual financial situation.
- Program enrollment: PeopleJoy will enroll you in the repayment programs, removing confusing paperwork and worries of missing enrollment or annual recertification deadlines.
- Goals-based coaching: Receive repayment planning advice and coaching based on your short- and long-term budget, income projections, and financial health. Regular check-in calls are also available.
- College financial planning: This includes one-on-one time with an advisor, evaluation of best college financing options, and other resources.
PeopleJoy has assisted thousands of employees with qualifying for PSLF and helped borrowers receive nearly $3 million in loan forgiveness in 2022.
If you have outstanding student loans and would like to use this free service, please visit the PeopleJoy platform at upenn.peoplejoy.com.You will need your work email address, Penn ID, and information about your student loans. Once you’ve filled in the required information, a member of the PeopleJoy support team will contact you via email to request additional information if needed, activate the service and identify next steps, or notify you if they are unable to assist you.
For more information, you can register for one of the following webinars:
- Student Loan 101, October 6, 12 p.m. to 1 p.m.
- Student Loan 101, October 20, 12 p.m. to 1 p.m.
- Student Loan 101, November 16, 12 p.m. to 1 p.m.
- Student Loan 101, December 15, 12 p.m. to 1 p.m.
After registering, you will receive a confirmation email containing information about joining the session.
If you have more questions about Public Student Loan Forgiveness, please review the PSLF FAQs. You can also visit the PeopleJoy webpage on the HR website.