Maximizing impact with student loan coaching benefits

Teachers face one of the highest student debt-to-income ratios of any profession. So when administrators at Cedar Tree Academy — an early childhood public charter school in Washington, DC — surveyed their staff to learn how they could better support their wellbeing, it was no surprise that student loan repayment was one of the most commonly reported concerns.

“Now that we knew that there was this demand, we wanted to find a provider that could administer repayment contributions while also offering additional tools and services — and that’s what led us to Candidly,” says Dr. Robinette Lewis, the school’s Director of Operations.

But despite the clear demand for student loan benefits, adoption was initially slower than anticipated. “We surveyed and found that in many cases, there was hesitation to sign up because the staff member didn’t want us to know that they were in default or hadn’t been making their payments,” says Dr. Lewis. “We realized we needed to do more to help staff understand that we’re offering this benefit because we want to help, and that they don’t have to feel ashamed or alone because of their debt situation.”

To accomplish this goal, the Cedar Tree team turned to word-of-mouth referrals. Dr. Lewis shares that adoption has skyrocketed since dedicating time in monthly team meetings to share staff members’ Candidly success stories — and that many of these stories shine a spotlight on coaching.

“Peer-to-peer, personal testimonial has been huge in our success with Candidly. Coaching is consistently the feature that gets the most praise. Being able to have that one-on-one guidance is something our staff really values. The stories they share make that really clear — and really inspire others to use the service, too.”

Dr. Lewis has first-hand experience with the impact coaching can deliver. “I had $250,000 in student debt, and with the help of Candidly’s coaches, I was able to get that all forgiven,” she shares.

When Cedar Tree Academy first introduced Candidly in 2022, Crystal Knox-Smith was among the first employees to sign up. Earning her undergraduate and Master’s degrees had left Crystal strapped with significant student debt, so taking advantage of the school’s repayment contribution offering was a no-brainer.

But it wasn’t until she heard a first-hand success story from a colleague that Crystal took the plunge with Candidly’s coaching service.

“I’d noticed coaching in the Candidly platform and HR had discussed it in staff meetings, but what ultimately inspired me to sign up for my first coaching session was hearing a co-worker share their experience with the service.”

In that first session, Crystal’s coach helped her understand how to make the most of programs for federal student loan borrowers, and explained the potential benefits to refinancing her private loans.

“At the end of our first call, my coach encouraged me to schedule another session to dive deeper into refinancing. Having an expert take the time to walk me through the process and give me pointers for choosing the best offer gave me the confidence to actually take action, and because of that, I’m now saving over $500 a month.”

A champion for coaching

“When it came to my student debt, I used to feel stuck. I didn’t like talking about it,” Crystal shared. “My coach has given me the confidence of knowing that I’m moving in the right direction, and that’s very empowering.”

Crystal is eager to pay her newfound financial confidence forward — much like the colleague whose experience inspired Crystal to sign up for her first coaching session. “Now, I love sharing my story and encouraging my co-workers to try out coaching, too.”